The Indian government has successfully raised INR 4,185 crore through a stake sale of three percent in the state-owned company, Coal India. According to a filing on the stock exchange by Coal India Limited (CIL), the government’s ownership in the coal producer has decreased to 63.13 percent following the offer-for-sale (OFS).
Maruti Suzuki India, a prominent automobile manufacturer, has recently embarked on the development of two cutting-edge solar power plants within its facilities, affirming its steadfast commitment to achieving carbon neutrality.
Gaurs Group, a renowned realty firm based in Delhi-NCR, has recently completed the construction of a 15 MW solar power plant near Gwalior, Madhya Pradesh. With an investment of Rs 80 crore, this eco-friendly initiative aims to integrate clean energy into the central grid while supporting the company’s real estate projects.
Embassy Office Parks REIT, India’s first listed REIT, announced on Monday that it has successfully raised INR 1,050 crore through the issuance of non-convertible debentures (NCDs). The funds raised will be utilized to refinance existing bank loans, which are scheduled for an interest reset in the near future. This strategic move is expected to enable Embassy Office Parks to save a significant 138 basis points on interest costs, as stated by Ritwik Bhattacharjee, the company’s Chief Investment Officer.
Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, announced the successful completion of a 110-MW solar project in Bikaner, Rajasthan. The project, which took only 7 months to finish, will supply electricity to the Kerala State Electricity Board (KSEB). This remarkable feat was achieved despite the project facing numerous challenges, including tough land topography, extreme weather conditions, temperature extremes, sandstorms, and geopolitical obstacles.
June 5, 2023 – PVR INOX Ltd experienced a gain of over 2 percent in its shares following the announcement of a new 7-screen multiplex in Bengaluru. This move has strengthened PVR INOX’s presence in South India, bringing their total screen count to 530 across 95 properties.
SBI Cards and Payment Services
SBI Cards and Payment Services Ltd, a leading credit card services company in India, has announced its decision to raise funds through the issuance of non-convertible debentures (NCDs) amounting to Rs 3,000 crore. This move was approved during a board of directors meeting held on Monday. The company plans to carry out the fundraising in one or more tranches on a private placement basis.
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