Himadri Speciality Chemical Ltd Makes Strategic Acquisition, ASM Technologies Plans Fundraise, and More: A Roundup of Recent Corporate News
In a series of strategic moves, several Indian companies have made significant announcements that are set to shape the future of their businesses. From acquisitions to fundraise plans, here’s a roundup of the latest corporate news:
1. Himadri Speciality Chemical Ltd has acquired a 40 per cent stake in lithium-ion electrode materials firm Invati Creations for ₹45.16 crore. This move comes as Himadri Speciality gears up to build India’s first-ever commercial plant for lithium-iron-phosphate (LFP) cathode active material in Odisha, with an estimated cost of ₹1,125 crore.
2. ASM Technologies is set to raise ₹170.1 crore through preferential allotment of equity shares and warrants. The technology firm has already raised ₹70 crore, with the remaining ₹100.1 crore expected to be received over the next 18 months.
3. Larsen & Toubro Ltd, a major engineering and construction company, has purchased 1.20 crore units of National Highways Infra Trust for ₹149.65 crore through an open market transaction. The National Highways Infra Trust is an infrastructure investment trust sponsored by the National Highways Authority of India (NHAI).
4. PB Fintech, the promoter of Policy Bazaar, has approved the incorporation of a wholly-owned subsidiary to carry on the business of a payment aggregator.
5. Wilmington Trust SP Services, an aircraft lessor, has filed an appeal against an earlier order of NCLT, which dismissed its insolvency plea against low-cost carrier SpiceJet. The petition is set to be heard by the National Company Law Appellate Tribunal.
6. Zomato CEO Deepinder Goyal has announced the rollback of plans for separate green uniforms for a new vegetarian-only food delivery service, following a backlash from customers. All delivery persons will continue to wear the current red shirts/t-shirts.
7. LIC has terminated the services of Yogesh Garg in connection with a confirmatory order issued by SEBI in a front-running trades case.
8. Wipro has appointed Anne-Marie Rowland as the Chief Executive Officer of Capco, a global technology and management consultancy focused on financial services and energy industries.
9. NCLAT has directed 11 public sector lenders not to take coercive action against IL&FS and its group companies until its next hearing on May 14.
10. Kirloskar Electric Company Ltd has entered into an agreement for the proposed sale of its immovable property in Hubli.
These developments highlight the dynamic nature of the Indian corporate landscape, with companies making strategic moves to drive growth and innovation in their respective industries. Stay tuned for more updates on the latest corporate news.
