Vodafone Idea: On June 13, Vodafone Idea announced that its board has approved the issuance of about 166 crore shares at ₹14.80 per share to raise funds up to ₹2,458 crore on a preferential basis. The shares will be allotted to Nokia Solutions and Networks India Private Limited and Ericsson India Private Limited. Post this issuance, the shareholding of Nokia and Ericsson in Vodafone Idea will be 1.5% and 0.9%, respectively.
Tata Consumer Products: TCPL plans to double its capital expenditure (capex) this fiscal year, with a significant portion of the investment going towards setting up a new plant in Vietnam. The company’s capex for the last fiscal year was around ₹308 crore, but it is expected to increase to more than double that amount, approximately ₹785 crore, this fiscal year. The company is making a significant investment of about ₹400 crore in a new plant in Vietnam.
LIC: Life Insurance Corporation of India is planning to acquire one of India’s five private standalone health insurance companies. LIC, with assets worth over ₹51 trillion and a market share of over 61.5% in life insurance, is keen to secure a composite licence that will allow an insurer to sell both life and non-life policies.
Wipro: The IT firm is partnering with Hewlett Packard Enterprise to launch a GenAI solution at Wipro Cloud Studio’s Kodathi office to enhance operational efficiency and customer experience globally.
Suzlon Energy: The company has appointed Khaitan & Co., a prominent Indian law firm, to review its corporate governance practices following the resignation of independent director Marc Desaedeeler over corporate governance issues.
Zee Media: The company’s board has approved the creation of a wholly-owned subsidiary to launch digital and alternative media properties in the infotainment space.
RITES: The company has signed an MOU with Delhi Metro Rail Corporation for collaboration in metro railway system projects, including rolling stock, depot management, station management, and maintenance of railway infrastructure.
Havells: The company plans to expand AC manufacturing capacities at Ghiloth and Sricity locations to 15 lakh units per year each, with an investment of ₹50-60 crore, funded through internal accruals.
NALCO: The company has signed a lease deed with the Odisha government for bauxite mining in Pottangi, with an annual production capacity of 3.5 million tonnes and estimated reserves of 111 million tonnes.
Dr. Reddy’s Laboratories: Life Insurance Corporation of India has increased its shareholding in Dr. Reddy’s Laboratories from 4.95% to 5.01%.
Sterlite Technologies: The company is facing a claim of $2,748,225 in damages from Data Management Center due to delays and unfulfilled obligations related to a turnkey solution agreement.
L&T Finance: Morgan Stanley Asia picked up a major chunk of L&T Finance shares, which were offloaded by Bain Capital’s affiliates and BNP Paribas Financial Markets. The three entities together offloaded 8.82 crore shares, or 3.5% of equity, on Thursday through multiple block deals.
Brigade Enterprises: The company expects the average pricing of its residential launches for FY25 to be ₹10,000/sq. ft. The company has launched its premium-luxury mixed-use project, Brigade Icon, on Chennai’s iconic Mount Road. The 38-storey structure is expected to be among the tallest buildings in Chennai upon completion.
Suven Pharmaceuticals: The company announced on Thursday that it will acquire a 67.5% stake in Hyderabad-based Sapala Organics for ₹229.5 crore. The company has entered into a definitive agreement for the investment.
Dixon Technologies India: The company has lined up ₹1,500-1,800 crore investment over the next three years to expand production capacity and component manufacturing. The company will generate the funds from internal accruals based on cash flow.
Cupid: The company has received its first order from Cipla Health to produce a variety of male condoms under the Cipla brand.
Puravankara: The board of the Bengaluru-based real estate firm on June 13 approved raising funds up to ₹1,000 crore through Qualified Institutional Placement (QIP).
Senco Gold: Hong Kong-based SAIF Partners pared a 5.8% stake in jewellery retailer Senco Gold for ₹432.72 crore through an open market transaction on June 13.
NALCO: The company has signed a mining lease deed with the Odisha Government for bauxite mining, with the mines having a yearly production capacity of 3.5 million tonnes.
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