Bharti Airtel’s rights issue for over 1.13 billion shares has been oversubscribed as it has received bids for over 1.19 billion stocks. Airtel had floated a rights issue of up to 1,133,591,075 shares, aggregating over […]
Waste management and recycling start-up Recykal has raised $2 million (Rs 138 million at current exchange rates) in a pre-Series A funding round. Triton Investment Advisors and individual investors contributed to the round. The company […]
Edelweiss Infrastructure Yield Plus Fund (EIYPF) will acquire two road assets from the Navayuga Group for $150 million. Both the road assets under consideration are located in Assam. These were developed through the build-operate-transfer (BOT) […]
The National Company Law Tribunal (NCLT) has granted approval to VIL to hive off its fibre assets to its wholly owned subsidiary Vodafone Towers Limited. The operator had approached the NCLT Ahmedabad bench on April […]
The Chandigarh bench of the NCLT has approved the merger of Indus Towers with Bharti Infratel, forming one of the biggest telecom tower companies worldwide. The pan-India company, which will operate over 163,000 telecom towers […]
Aircel’s lenders have approved a proposal of UV Asset Reconstruction Company (UVARCL) to take over the bankrupt operator. The financial creditors are likely to recover only 15-20 per cent of loans they had extended to […]
Macquarie Infrastructure and Real Assets (MIRA) plans to exit the roads platform, Ashoka Concessions Limited. Macquarie, an Australian company, had acquired a 34 per cent stake in the platform in 2012, for Rs 8 billion. […]
Essel Infraprojects Limited has agreed to sell three of its road projects to Caisse de dépôt et placement du Québec, Canada’s second largest fund manager. The assets are expected to fetch a combined enterprise value […]
VIL’s board of directors has approved a scheme of amalgamation of its two wholly owned subsidiaries, Vodafone India Digital Limited (VIDL) and Idea Telesystems Limited (ITL), with the company. This will not result in any […]
Kalpataru Power Transmission Limited is likely to sell four of its energy transmission lines to Adani Transmission Limited. The deal is expected to be valued between Rs 14 billion ($200.4 million) and Rs 15 billion […]
Canadian firm Brookfield Asset Management is likely to acquire two wind farms from Axis Energy Ventures India Private Limited for Rs 5 billion. These wind farms have a total power generating capacity of 210 MW. […]
Puneet Chawla assumed charge as chairman and managing director (CMD) of RailTel in December 2018. RailTel is a Mini Ratna PSU working towards turning India into a modern, connected nation – its optic fibre network, […]
With almost 36 years of experience in the power sector, a large part of it in the hydro segment, H.L. Arora is passionate about improving the segment’s health. “Hydro can help the country achieve self-reliability,” he […]
Navayuga Engineering Company Limited (NECL) has commenced the development of Machilipatnam port in Andhra Pradesh. The foundation stone for the greenfield, all-weather, multi-purpose port was laid by the Andhra Pradesh government. Located on the Bay […]
The Dubai Municipality has inaugurated Phase II of the Jebel Ali sewage treatment plant (STP) in the United Arab Emirates (UAE). With a capacity of 375,000 cubic metres per day, it is the largest STP […]
thyssenkrupp will supply 155 elevators and 22 escalators to China Southern Airlines’ new airport base at Beijing Daxing airport, which is currently under construction. Located in the south of Beijing, the airport’s main terminal will […]
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