Manappuram Finance said that Bain Capital would pick up an 18 per cent stake in the gold loan provider for ₹4,385 crore through subscription of shares and warrants at ₹236 apiece, implying a 30 per cent premium over the six-month average trading price of Manappuram Finance. The deal will trigger a mandatory open offer for the purchase of an additional 26% stake in the company from existing shareholders, it said. Based on open offer subscription, Bain Capital’s stake post-investment will vary between 18 per cent and 41.7 per cent.
The board of Hero MotoCorp has considered and approved a strategic investment of up to ₹525 crore (in one or more tranches), in Euler Motors Private Limited to acquire 32.5% stake in electric three-wheeler company. The acquisition is expected to be completed by April 30.
Aditya Birla group chairman Kumar Mangalam Birla has said the group’s flagship Hindalco will invest ₹45,000 crore in copper and aluminium segments and entry into the electric mobility materials space by setting up the country’ first copper foil facility for electric vehicles. The investment will focus on upstream operations and advanced, high-precision engineered products.
Bajaj Finance on Thursday named Anup Kumar Saha as its managing director, replacing Rajeev Jain. The company said Jain will be re-designated as its vice chairman for three years, effective April 1. Saha, who currently serves as the deputy managing director, will also take on his new role starting April 1, until the end of his tenure on March 31, 2028
Shares of Bajaj Housing Finance Ltd will be in the spotlight, as it will be receiving inflows as part of the FTSE rebalancing adjustments, which will take place towards the close of the trading session on Friday.
Mundra I Transmission Ltd, a project specific special purpose vehicle (SPV) has been transferred to Adani Energy Solutions, an exchange filing said on Thursday. Mundra I Transmission was established for the development of transmission system for supply of power to green hydrogen/ammonia manufacturing potential in Mundra area of Gujarat. The asset which was a wholly owned subsidiary of PFC Consulting Ltd has been transferred to Adani Energy Solutions, the successful bidder on March 20, Power Finance Corporation (PFC) said in the filing.
Zomato Ltd has said the Ministry of Corporate Affairs (MCA) has approved the name change of the company to Eternal Limited, effective March 20, 2025. The company clarified that the name change applies only to the corporate entity and does not affect its brand or app identity. The change is part of a broader strategy to align with the company’s evolving business interests.
Hindustan Construction Company Ltd (HCC) and Tata Projects Ltd in a 50:50 Joint Venture have received a ₹2,470 crore contract by Tata Power Company for the construction of Bhivpuri Off-Stream OpenLoop Pumped Storage Project (PSP) 1000 MW (2×333 MW + 2×167 MW) at Karjat, Maharashtra
Sirca Paints India Limited has acquired the business undertaking of “Wembley Group” i.e. Wembley Paints and Chemicals, Indo Wembley Paints Pvt. Ltd. and Wembley Sales Corporation by entering into a Business transfer agreement, Further, the transaction has been executed on an itemised assets basis for an aggregate purchase consideration of ₹81.50 crore.
Post Accenture results, Indian IT stocks will be in focus. The global IT services giant raised the lower end of its full-year revenue forecast but narrowed its guidance range, citing an uncertain environment for discretionary spending following which ADRs of IT stocks will end in red.
Bengaluru-based Embassy Developments Limited, through its wholly owned subsidiary Embassy East Business Park, has signed a ₹1,125 crore land transaction deal with Lam Research (India), a leading global semiconductor equipment manufacturer, as per a company statement. The agreement includes the sub-leasing and eventual divestment of a 25-acre land parcel in Whitefield, Bengaluru. The transaction is subject to necessary regulatory approvals.
Unichem Laboratories has completed the capacity expansion (Phase I) of API plant at Pithampur. This will add 210 KL capacity to its existing capacity ₹259.5 KL with a ₹200 crore investment.
Ahead of its second round of fund infusion — of approximately ₹1,500 crore due in April — PSU steel-maker RINL (Rashtriya Ispat Nigam Ltd) has initiated a fresh round of discussions with an SBI-led consortium of banks to refinance its high-interest bearing long-term loans. The talks include a proposal for the Andhra Pradesh government to pick up stake in the company as equity infusion in lieu of power supply.
Glenmark Pharmaceuticals Inc., USA (Glenmark) has received final approval by the United States Food & Drug Administration (U.S. FDA) for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC), determined by the FDA to be bioequivalent1 to Pataday2 Once Daily Relief Ophthalmic Solution, 0.2% (OTC), of Alcon Laboratories, Inc. Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC), will be distributed in the US by Glenmark Therapeutics Inc., US.
RailTel Corporation of India has bagged a new work order worth Rs 16.89 crore from the Ministry of Defence for laying optical fiber cables (OFC).
