Ambuja Cements (Adani Group) has announced the amalgamation of its subsidiaries, Sanghi Industries Ltd (SIL)and Penna Cement Industries Ltd (PCIL), into the parent company. The move, aimed at streamlining operations, will see Ambuja issue 12 equity shares for every 100 shares of SIL, as per the valuation report accepted by the board.
Aurobindo Pharma reported that the U.S. FDA concluded an inspection of its Unit-V API manufacturing facility in Telangana, which lasted from December 9-17, 2024. The FDA identified two procedural observations, marking the inspection’s closure without significant compliance issues.
LTIMindtree, an IT solutions provider, secured an interim stay from the Karnataka High Court regarding a legal dispute over a denied zero-rated supply benefit. The company filed a writ petition contesting the recovery of input tax credits, which it claims were granted erroneously.
Aditya Birla Real Estate announced the acquisition of a 70.92-acre land parcel in Boisar, Maharashtra, for ₹104.3 crore. This acquisition by Birla Estates Pvt Ltd, a wholly-owned subsidiary, further expands the company’s real estate footprint.
Exide Industries has committed ₹100 crore to its subsidiary, Exide Energy Solutions Ltd (EESL), through a rights issue. This capital infusion supports EESL’s lithium-ion battery manufacturing project in Bengaluru, boosting India’s electric vehicle market.
Piramal Enterprises plans to hold a meeting on December 20, 2024, to discuss a public issuance of non-convertible debentures (NCDs) as part of its funding strategy.
The RBI lifted business restrictions on ECL Finance Ltd and Edelweiss ARC, two Edelweiss Group entities, after they successfully implemented remedial measures to address earlier regulatory concerns.
