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BUSINESS

AXISCADES Engineering opens ‘Digital Centre of Excellence’ in Pune

AXISCADES Engineering Technologies has opened a Digital- Centre of Excellence (D-COE) in Pune, Maharashtra, India. The Digital – COE will house some of the key technology stacks that the company has been investing on including Industrial IOT, Augmented Reality, Artificial Intelligence /Machine Learning, Product Lifecycle Management (PLM) and Manufacturing Execution ... Read More »

Strides Pharma gets nod to invest $15 million in its biotech arm

Strides Pharma Science has received an approval from its Board of Directors to invest $15 million in its biotech arm Stelis Biopharma. The company will participate in the Series B fundraiser of Stelis Biopharma with a commitment of $15 million. The company currently own 36.25% stake in Stelis, the former ... Read More »

Welspun’s arm enters into partnership with Yes Bank

Yes Bank has entered into partnership with Welspun Global Brands (WGBL) –a subsidiary of Welspun India to facilitate Industry-first Electronic Presentation of Export Documents. WGBL has yearly export flows of $700 MM. With this transaction, Yes Bank becomes 1st Indian Bank to facilitate Electronic Presentation of Export Documents. The electronic ... Read More »

Indiabulls Housing Finance raises Rs 1000 crore via NCDs

Indiabulls Housing Finance has raised funds aggregating to Rs 1000 crore via private placement. The Board of Directors of the company at their meeting held on November 22, 2018 has allotted 10,000 Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 1,000 crore. These ... Read More »

IIFL Holdings’ arm acquires 100% stake in Wealth Advisors India

IIFL Holdings’ subsidiary– IIFL Wealth Management (IIFLW) has acquired 5,34,33,822 equity shares constituting 100% paid up share capital of Wealth Advisors India (WAI) at the total consideration of Rs 253.02 crore. Upon the said acquisition, WAI has become a wholly owned subsidiary of IIFLW and its employees have become part ... Read More »

Pennar Group bags orders worth Rs 317 crore

Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth Rs 317 crore across its various business verticals and the subsidiary, PEBS Pennar. The Group’s flagship company Pennar Industries (PIL) received multiple orders aggregating Rs 190 crore across its business verticals such as railways, tubes and ... Read More »

Dynamatic Technologies executes agreement with Hi-Tech Arai

Dynamatic Technologies has executed definitive sale agreement with Hi-Tech Arai, along with substantial advance payment. The Business Transfer is expected to be executed during December 2018. Dynamatic Technologies is the largest producer of Hydraulic Gear Pumps in Asia and one of the top five worldwide. The company designs and builds ... Read More »

USFDA completes inspection at Indoco Remedies’ Goa facility

US Food and Drug Administration (USFDA) has inspected Indoco Remedies’ Sterile facility (Plant II) and Solid Dosages facility (Plant III) situated at Goa from November 14 to 21, 2018. The inspection concluded with Indoco receiving 2 minor observations, none of which are repeat in nature. Indoco Remedies is engaged in ... Read More »

JSW Steel implements TQM at Vijayanagar Works unit

JSW Steel has implemented Total Quality Management (TQM) at its Vijayanagar Works steel-making unit as part of its journey towards quality excellence. TQM implementation has enabled the company, over the past five years, to drive operational efficiencies and strengthen its customer service orientation. In October 2018, the company’s Vijayanagar Works ... Read More »

Shree Surgovind Tradelink planning to raise funds via QIP

Shree Surgovind Tradelink is planning to raise funds by issuing securities through Qualified Institutional Placement (QIP). The meeting of the Board of Directors of the company is scheduled to be held on November 24, 2018, to consider the same. Shree Surgovind Tradelink deals mainly in cereals, pulses and onion export. Read More »

Piramal Enterprises raises Rs 1000 crore through NCDs

Piramal Enterprises has raised funds aggregating to Rs 1000 crore on private placement basis. The Administrative Committee of the Board of Directors of the company, at its meeting held on November 22, 2018 has allotted 1,000 Secured Redeemable Non-Convertible Debentures (NCD’s), aggregating up to Rs 100 crore having a term ... Read More »

IL&FS Transportation Networks misses Rs 7.24 crore interest repayments on NCDs

IL&FS Transportation Networks has defaulted in payment of the interest amount of Rs 7,24,65,753 on non-convertible debentures (NCDs), due between May 21, 2018 and November 20, 2018 (184 days), because of insufficient funds. IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and ... Read More »