Optiemus Unmanned Systems (OUS), a subsidiary of Optiemus Infracom Ltd, on Thursday said it will invest around Rs 140 crore next year to deploy 5,000 drones in agriculture and mapping. With this project, the company also targets a service revenue of around Rs 600-900 crore by the end of calendar year 2025, a senior company official said, adding that the prices of the drones start at around Rs 2.50 lakh apiece.
Go Digit Insurance informed the exchanges that a team of officials from the Directorate-General of GST Intelligence (DGGI) in Bengaluru had sought information regarding purchases made by the company from one of its suppliers. According to DGGI, the supplier was not present at its corporate headquarters as per discreet investigations by the department. “We would like to reiterate that the said transactions were carried out in the normal course of business. During the search, the company contacted the in-charge of the supplier in question, who assured that he would cooperate with the investigation. Assuming that the supplier is non-existent and without admitting the same, the company has also voluntarily cancelled an input tax deduction of Rs 7 crore.
Solar Industries India Ltd, a global company specialised in the design, development, manufacture and application of energetic materials for the mining, defence and aerospace industries, through its South African subsidiary Solar Mining Services (Pty) Ltd, has acquired a majority stake in Problast BS (Pty) Ltd, South Africa.
The US arm of Persistent Systems will acquire a 100% stake in New Jersey-based software company Starfish Associates for $20.7 million in cash. The acquisition is expected to close within 4 to 6 weeks, according to a company statement. “Persistent Systems Inc., USA (wholly owned subsidiary) has entered into a stock purchase agreement for the acquisition of Starfish Associates, LLC, USA.
Coforge on Thursday acquired an 11 per cent stake in IT firm Cigniti Technologies for Rs 426 crore in an open market transaction. According to large transaction data available with the NSE, Coforge bought 30,21,293 shares, representing an 11 per cent stake in Cigniti Technologies. The shares were acquired at an average price of Rs 1,412.25 crore, bringing the transaction value to Rs 426.68 crore.
HG Solar Projects, a wholly owned subsidiary of HG Infra Engineering, has set up a wholly owned subsidiary namely HG Dudu Solar Project, which will be engaged in the field of solar energy. Earlier, the company had set up subsidiaries named HG Dhingsari Solar Project, HG Ramsagar Solar Project and HG Moriya Solar Project, which are also engaged in the field of solar energy.
Ahluwalia Contracts (India) has been awarded a contract by the Airports Authority of India for the construction of a new terminal building, associated structures and external development works under Engineering Procurement and Construction (EPC) model. The total value or size of the contract is ₹572 crore (excluding GST). The contract is to be completed in 24 months.
RailTel Corporation of India has received a work order from Webel Technology for modernization and augmentation of existing IT and non-IT DC infrastructure at WBSDC Monibhandar. The contract value is ₹23.96 crore (including taxes) and is to be executed by September 25.
Share India Securities has incorporated a subsidiary – Silverleaf Securities Research – to carry on trading in securities and to provide stock broking services under the Securities Contracts (Regulation) Act, 1956. The company has subscribed for 730,900 equity shares of face value of Rs.10 each, aggregating to Rs.730,900 crore.
BGR Energy Systems intends to raise Rs 1,000 crore through a rights issue, the company said in a notification to the stock exchanges. However, the record date for determining the eligible shareholders and the subscription ratio of the issue are yet to be decided. The company has constituted a ‘Rights Issue Committee’ of the Board of Directors to push through the issue.
IDFC First Bank on Thursday said it has raised Rs 3,200 crore by selling equity shares to six insurance companies, including LIC and HDFC Life. In a regulatory filing, IDFC First Bank said an authorised committee of the board of directors has approved the allotment of over 39.68 crore equity shares at Rs 80.63 per share, “amounting to Rs 3,200 crore in total”. The names of the six companies allotted shares are Life Insurance Corporation of India, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company and SBI General Insurance Company.
Lloyds Metals and Energy has launched a QIP to raise capital and has set the reserve price at ₹732.08, a discount of 5.5 percent to Thursday’s closing price. The company can offer a discount of 5 percent to the reserve price.
RVNL has signed a MoU with Delhi Metro Rail Corporation to participate as a project service provider in upcoming projects in India and abroad.
IRCON has received an order worth ₹750.8 crore from RVNL.
