Three companies -- Cyient DLM, Healthvista India and Zaggle Prepaid Ocean Services -- have received Sebi's go- ahead to raise funds through initial public offering (IPO). The three companies, which filed their preliminary IPO papers with the regulator between July 2022 and January 2023, obtained its observation during March 29-31, an update with the Securities and [...]
Smartr Logistics is expecting to raise USD 30 million in Series A funding round by August this year to drive its aggressive expansion plans which include adding pin codes and services offering among others, a top company executive has said. The city-based company is also eying a more-than-two-fold growth in its topline at Rs 200-250 [...]
Amp Energy India on Wednesday said it has bagged 1 GW capacity for integrating cell and module manufacturing under the government's performance-linked incentive (PLI) scheme. Solar Energy Corporation of India Limited (SECI) is a nodal agency of the central government for auctioning renewable energy projects. In a statement, Amp Energy India said subsidiary company AMPIN [...]
Japanese auto major Honda Motor Co Ltd on Wednesday announced top management changes in its Indian two-wheeler arm with the appointment of Tsutsumu Otani as the President, CEO & Managing Director of Honda Motorcycle & Scooter India. Otani, also a Vice President at Honda Motor Co., Japan, will succeed Atsushi Ogata, who returns to Shanghai, [...]
The Bombay High Court on Wednesday continued till further orders an interim stay on show-cause notice and penalty demand issued to industrialist Anil Ambani by the Income Tax department under the Black Money Act. A division bench of Justices Gautam Patel and Neela Gokhale posted Ambani's petition challenging the notice and penalty demand for hearing [...]
Billionaire Gautam Adani's Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported 9 per cent growth in cargo handling at seaports it operates for fiscal year ended March 31. At 339 million tonne, this is the largest port cargo ever, APSEZ said in a statement. The firm handled about 32 million tonne of [...]
The board of clean energy solution provider Suzlon Energy has appointed J P Chalasani as the company's Chief Executive Officer following the resignation of Ashwani Kumar from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. The Board of Directors, [...]
Construction major Larsen & Toubro (L&T) on Wednesday said it has bagged multiple contracts of worth more than Rs 7,000 crore in the Middle East region. The scope of work comprises engineering, procurement, construction and installation for various new offshore facilities and integration with existing installations, L&T said in a statement. L&T wins "mega" contracts [...]
Electric mobility solutions provider Magenta on Wednesday said it has closed a Series A1 funding round with USD 22 million equity investment from the UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund. The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in [...]
INOX Air Products on Tuesday said it has signed an agreement with TP Saurya Bandita Ltd to set up a 40 MW captive solar plant at Dhule in Maharashtra. TP Saurya Bandita is a special-purpose vehicle of Tata Power Renewable Energy Ltd (TPREL). In a statement, INOX Air Products (INOXAP) said, "The power project with [...]
