Actions that will come into action on November 17, 2022

Japan-based Softbank has begun the process of selling a 4.5% stake in One97 Communications (Payment) for around $200 million (roughly Rs 1,627 crore) in a block deal, sources say. The development comes immediately after the lock-up period for Paytm investors ends. Softbank is the second largest shareholder, with a 17.5% stake in the company.

Financial Spandana Sphoorty will raise up to Rs 300 crore by issuing market-linked rated non-convertible debentures (NCDs) with a base issue size of Rs 200 crore and a green shoe option of Rs 100 crore, the company said in a filing regulatory. The bonds which will be allocated on November 22, 2022 have a duration of 18 months and an interest rate of 11.15% per annum.

clothing manufacturer Industry page on Wednesday it announced that it will invest ₹290 crore to set up two facilities in Telangana which will provide jobs for 7,000 local youths. It will manufacture apparel, including activewear and activewear, according to a statement.

Law firm Lakshmikumaran and Sridharan (LKS) said on Wednesday that it had advised IndiaMART Intermesh Ltd regarding the partial sale of its stake in Instant Procurement Services, which operates “ProcMart”, a B2B procurement portal for industrial buyers. The deal involves the sale of shares held by Tradezeal Online Pvt Ltd, a subsidiary of IndiaMART. LKS participated in the negotiation and finalization of the transaction documents.

The Electricity Board THOSE C approved an issue of 3,000 non-convertible debentures (NCD) worth ₹300 crore to Axis Bank.

Ircon International Ltd said he had become the lowest bidder for a ₹392.5 crore project launched by the Madhya Pradesh Water Resources Department.

Aurobindo Pharma Ltdreceived a Establishment Inspection Report (EIR) from the US health regulator for its manufacturing facility at Pydibhimavaram in Andhra Pradesh. Pydibhimavaram Unit XI, a non-antibiotic API manufacturing facility, was inspected by the United States Food and Drug Administration (USFDA) in February 2019 and issued a warning letter in June 2019.

India has raised the windfall tax on crude oil to ₹10,200 ($125.22) per ton from ₹9,500, a government decree announced on Wednesday. Export tax on diesel has also been reduced to ₹10.50 per liter from ₹13 per litre, according to the order. The focus will be on Addiction, CGSB and Oil India.

Timken Indiawill set up a new Rs 600 crore manufacturing plant in Bharuch, Gujarat to manufacture spherical and cylindrical roller bearings and their components. Its existing plant in Bharuch manufactures tapered roller bearings and their components.

Waaree ESS, promoter of Waaree Technologiesbought a 4.64% stake in the company via open market transactions on November 15. His stake in the company now stands at 60.42%, compared to 55.78% previously.

Tera Software received work orders worth ₹46.7 crore from Bharat Electronics for scanning and digitizing – E Mahabhoomi Polygons in 14 districts of Maharashtra. The period of execution of the work is 19 months.

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