Jio Financial Services: Jio Financial Services and BlackRock Advisors Singapore Pte. Ltd. have formed a joint venture to launch Jio BlackRock Investment Advisers Private Limited. According to a Bombay Stock Exchange (BSE) filing on September 8, the company will focus on investment advisory services in India. Jio Financial Services stated that it will invest Rs. 3 crore for an initial subscription of 3,000,000 equity shares at Rs. 10 each.
SpiceJet: SpiceJet Ltd’s Chairman and Managing Director, Ajay Singh, is expected to sell more than a 10 percent stake in the airline as part of its latest funding round, which is likely to conclude by the end of September. According to a PTI report on September 8, SpiceJet is facing financial difficulties, legal issues, and the grounding of aircraft. The company is aiming to raise funds to meet its financial obligations and stabilize operations.
Vedanta: Vedanta is set to undergo a demerger of its various business verticals, which span over 15 commodities. Chairman Anil Agarwal announced that the demerger will transition the company from asset managers to asset owners. The split will create independent companies focused on aluminium, oil and gas, power, steel, and base metals, while Vedanta Ltd. will continue to oversee its zinc and newly incubated businesses.
Punjab National Bank, Bank of Maharashtra: Both banks have received approval to raise up to ₹5,000 crore each through qualified institutional placements (QIP) in FY25. This capital will help them meet public shareholding norms.
Ola Electric Mobility: The one-month lock-in period for Ola Electric’s shares ends on September 9, allowing 18.18 crore shares to become eligible for trading.
PNB Housing Finance: The company plans to raise up to $125 million through External Commercial Borrowing (ECB) in Q3FY25. With an existing ECB sanction of $125 million, PNB Housing is considering securing an additional $100 to $125 million. The company aims to grow its retail loan book to ₹1 trillion by FY27, up from its current ₹65,000 crore, with a target growth of 17 percent in FY25.
Deep Industries: The company has secured a ₹1,402 crore order from Oil and Natural Gas Corporation (ONGC) to boost production operations at ONGC's Rajahmundry facility. As of June 30, 2024, Deep Industries had an order book of ₹1,246 crore.
Suven Pharma: Suven Pharma’s subsidiary, Casper Pharma, has received a Voluntary Action Indicated (VAI) classification from the US FDA for its Hyderabad facility, successfully closing the inspection.
Suzlon Energy: Suzlon Energy has acquired a 51 percent stake in Renom for ₹400 crore, making Renom a subsidiary of the company.
Mazagon Dock Shipbuilders: The company has received a ₹1,486 crore order from Oil and Natural Gas Corporation (ONGC) for a subsea pipeline replacement project.
