Gas, a Better Option
Energy is one of the most important commodities enhancing the growth of any country. And, India in the recent past has taken various steps in augmenting its resources with the aim of attaining energy security.
IndiGrid initial public issue of units to open on May 17
India Grid Trust (IndiGrid), proposes to open on May 17, 2017, an initial public issue of its units for cash at a price band per unit of Rs 98 to Rs 100, aggregating up to Rs 22,500 million. IndiGrid is an infrastructure investment trust (InvIT) established to own inter-state power transmission assets in India. Sterlite Power Grid Ventures Limited and Sterlite Investment Managers Limited are the Sponsor and Investment Manager. Axis Trustee Services Limited is the Trustee of IndiGrid.
Sharan Bansal is the Director of Skipper Limited, a BSE/NSE Listed $250 million revenue company and featured prominently amongst India's top 500 corporates. Skipper is one of the largest manufacturers of power transmission & distribution structure globally and amongst the fastest growing polymer pipe manufacturing companies in India.
WREPL raises Rs.1,200 cr through debentures
Tata Power's wholly owned subsidiary Welspun Renewables Energy Private Ltd (WREPL) has raised Rs.1,200 crore through issuance of non-convertible debentures of face value of Rs.10 lakh each, aggregating to Rs.1,200 crore on a private placement basis, the company has said in a BSE filing.
WREPL raises Rs 1,200 cr through debentures
Tata Power’s wholly owned subsidiary Welspun Renewables Energy Private Ltd (WREPL) has raised Rs 1,200 crore through issuance of non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 1,200 crore on a private placement basis, the company has said in a BSE filing
OIL winds up OIL International Ltd
Oil India Ltd (OIL) announced it is shutting down operations of overseas subsidiary Oil India International Ltd. ´The Board of Directors of the company in its meeting have inter-alia accorded approval for voluntary winding up of its wholly owned subsidiary-Oil India International Limited in accordance with the provisions of the applicable laws,´ the company said in a BSE filing.
The Board of Directors of the company at its meeting held on December 16, 2016, has approved the appointment of Sanjay Baweja as the Chief Financial Officer of the Company, with effect from December 19, 2016, Suzlon Energy informed BSE.
Tata Power to sell PT Arutmin stake for $247 mn
Tata Power will sell its 30 per cent stake in Indonesia-based coal company PT Arutmin for $246.64 million. ´The sale consideration for PT Arutmin is now revised to $246.64 million from the earlier value of $390 million, pursuant to closing adjustments relating to certain prior period liabilities, which includes settlement of past claims with mining contractor, pursuant to a court order (about $80 million as company´s share) and other statutory liabilities (about $50 million),´Tata Power said in
Bajaj Hindusthan to sell power biz
Bajaj Hindusthan Sugar Ltd plans to sell its co-generation power business to its group company Lalitpur Power Generation Company Ltd (LPGCL) for about Rs 1,800 crore.