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has acquired a minority stake in JSW Cement Ltd at an investment of ₹100 crore. SBI has acquired compulsorily convertible preference shares that will be converted to equity shares on terms linked to JSW Cement’s future business performance. The valuation will be fixed at the time of the proposed initial public offering (IPO) of the company.
HCL Technologies, a leading global technology company, signed a five-year agreement with CEMEX, a global construction materials company, to deliver the next generation of employee services enabled by digital transformation, increased automation and near real-time analytics as part of the CEMEX ‘Working Smarter Program’. This multi-year managed services agreement comes as HCL has made a strategic commitment to expand its services and customer base across Mexico. HCL recently appointed Pablo Gallegos as its Mexico country head to lead HCL’s strategy in the region.
The dispute between MCX and PESB Limited, a UK based vendor engaged for developing spot platform, pending before Singapore International Arbitration Centre since January 2021, has been amicably settled and closed on the payment of amount equivalent to outstanding invoices.
The board of NCL Research and Financial Services Ltd has approved proposal to raise further capital up to ₹49 crore by way of Rights Issue and to increase authorised capital from ₹60 crore to ₹109 crore.
The board of XTGlobal Infotech will be held on December 29 to consider and approve the proposal to authorise a director to execute share transfer deed and to perform other formalities for acquiring shares of Network Objects Inc. The board will also consider and approve allotment of 1.30 crore equity shares of ₹1 at ₹25.20 a share on preferential basis for consideration other than cash against acquisition of 44.33 per cent stake in Network Objects Inc.
Windlas Biotech, one of the top five players in the domestic pharmaceutical formulations contract development and manufacturing organisation industry in India, has further strengthened the senior management capability with appointment of Shailendra Rastogi as a Chief Business Officer. He will be responsible for handling CDMO, Export, API & CRAMS business development for the company.
IndiaMART InterMESH has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited, agreed to acquire 4,784 Compulsorily Convertible Series A Preference Shares and 100 Equity Shares aggregating to 26.01 per cent of Edgewise Technologies Private Limited on fully diluted basis. The investment should be in line with the company’s long term objective of offering various Software-as-a-Service (SaaS) based solutions for businesses.
