One 97 Communications (Paytm)
Reserve Bank of India (RBI) has banned One 97 Communications’ wholly-owned subsidiary — Paytm Payments Bank from onboarding new customers with immediate effect. The RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.
Jubilant FoodWorks
Pratik Rashmikant Pota has resigned as the CEO and whole-time director of the company.
ICICI Bank
The bank has raised Rs 8,000 crore through the allotment of 80,000 senior unsecured redeemable long-term bonds in the nature of debentures on a private placement basis.
Tech Mahindra
The company announced on March 12 that it will be acquiring 100% equity shares in Mumbai-based Thirdware Solutions in an all-cash deal for a total consideration of up to $42 million including earnouts. The transaction is expected to conclude by May 31, 2022.
Gail (India)
The board has approved the payment of the second interim dividend of Rs 5 a share for the financial year FY21-22. The record date for eligibility of shareholders for payment of a dividend has been fixed as March 22.
Hindalco Industries
ICICI Prudential Mutual Fund through its various schemes sold 11.81 lakh equity shares in the company via open market transactions on March 9. With this, its shareholding in the aluminium major stands at 3.01%, down from 3.07% earlier.
Punjab & Sind Bank
The bank has entered into an agreement to buy a 2% stake in the asset reconstruction company National Asset Reconstruction Company (NARCL) for Rs 55 crore.
Dhanvarsha Finvest
The board approved raising Rs 88.65 crore by issuing equity shares and warrants to non-promoters on a preferential basis.
Vikas Lifecare
The company is planning a capital expenditure of about Rs 120 crore to expand operations.
CESC
The firm said transactions for sale and transfer of 100% shareholding in Surya Vidyut to Torrent Power have been completed. The company and its six subsidiaries entered into a share purchase agreement with Torrent Power for the sale of 156 MW power plants operated by Surya Vidyut in Gujarat, Rajasthan and Madhya Pradesh, in September 2021. Surya Vidyut was a wholly-owned subsidiary of CESC.
IDBI Bank
The bank is planning to invest over Rs 272 crore in the government-promoted bad bank National Asset Reconstruction Company (NARCL).
Anupam Rasayan India
The company acquired a 24.96% stake in the company via off-market transactions on March 11. The stake was acquired by Anupam at Rs 595 a share from sellers. With this, Anupam Rasayan has become a promoter of Tanfac along with Tamil Nadu Industrial Development Corporation (TIDCO). Anupam had entered into a share purchase agreement with sellers—Birla Group Holdings, Pilani Investment & Industrial Corporation and Askaran Agarwala in February.
Lupin
The pharma major has received approval from the US FDA for the abbreviated new drug application Vigabatrin for oral solution USP. This drug is a generic equivalent of Sabril owned by Lundbeck Pharmaceuticals, LLC. Vigabatrin had estimated annual sales of $275 million in the US as per IQVIA MAT data of December 2021.
