Buzzing stocks: IIFL Finance Limited, Dr Reddy’s Laboratories, Welspun Enterprises, HFCL, Bajaj Auto, Shriram Transport Finance Company, KPI Green Energy
IIFL Finance Limited has announced that its wholly-owned subsidiary IIFL Home Finance Limited has entered into definitive agreements for raising ₹2,200 crore of primary capital for a 20 per cent stake from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The deal completion is subject to regulatory approvals.
Dr Reddy’s Laboratories on Thursday said its subsidiary has inked a pact with the US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of an undisclosed oncology target. Olema and Aurigene Discovery Technologies, a wholly-owned unit of Dr Reddy’s Laboratories have inked an exclusive global licence agreement in this regard.
The Board of Welspun Enterprises has executed agreements to exit its portfolio of operating road concessions to Actis Highway Infra Limited for an aggregate Enterprise Value of approximately ₹6,000 crore. The Highway Portfolio comprises of five completed HAM assets (Welspun Delhi Meerut Expressway Private Limited, Welspun Road Infra Private Limited, MBL (CGRG) Road Limited, MBL (GSY) Road Limited, Chikhali Tarsod Highways Private Limited) and one operating BOT-Toll asset (Welspun Infrafacility Private Limited).
HFCL has received orders aggregating to ₹73.39 crore, consisting of purchase orders worth ₹51.09 crore from Private Telecom Operators for supply of UBRs (Unlicensed Band Radio) along with Accessories and of ₹22.30 crore, from one of the leading EPC player for supply of Optical Fibre Cables.
Bajaj Auto informed the exchanges that its board will meet on June 14 to consider and approve proposal for buyback of fully paid-up equity shares of the company.
Shriram Transport Finance Company (STFC) on Thursday said it has secured a long-term funding of $250 million from the US International Development Finance Corporation (DFC). The external commercial borrowing (ECB) is a fixed-rate 10-year loan under STFC’s social finance framework, as per a release.
KPI Green Energy has said that it has received Commissioning Certificate from Gujarat Energy Development Agency for capacity of 5.20 MWdc solar power project for Devika Fibers Pvt. Ltd under ‘Captive Power Producer (CPP)‘ segment.