Tata Motors, RIL, Bajaj Finserv, IndusInd Bank in focus

IT majors Infosys and Wipro will release their quarterly earnings today, 13 October 2021.

Tata Motors and TPG Rise Climate entered into a binding agreement whereby TPG Rise Climate along with its co-investor ADQ, shall invest in a subsidiary of Tata Motors that will be newly incorporated. TPG Rise Climate along with co-investors shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11 % to 15 % stake in this company translating to an equity valuation of up to $9.1 billion.

Reliance New Energy Solar (RNESL), a wholly-owned subsidiary of Reliance Industries (RIL), has entered into an agreement with NexWafe GmbH (NexWafe) for acquiring 86,887 series C preferred shares of face value of EUR 1 each of NexWafe at a price of EUR 287.73 per share aggregating EUR 25 million. RNESL will also be issued 36,201 warrants which are exercisable for a consideration of EUR 1 per warrant subject to achievement of agreed milestones.

Bajaj Finserv said that trustee company under the name of Bajaj Finserv Mutual Fund Trustee has been incorporated as a wholly owned subsidiary of the company.

IndusInd Bank announced, that it has been authorised by the Reserve Bank of India (RBI) for collection of Direct and Indirect Taxes, on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).

Power Finance Corporation said that the Government of India has granted Maharatna Status to the company.

Karur Vysya Bank said that RBI has authorized the bank to collect Direct Taxes on behalf of Central Board of Direct Taxes (CBDT).

Centrum Capital said that the Reserve Bank of India (RBI) has issued a Small Finance Bank (SFB) license to the consortium of Centrum Financial Services and Resilient Innovations Private Limited (BharatPe).

Happiest Minds Technologies announced that it has entered into partnership with Tech4TH Solutions, a company incorporated in the USA.

Choice International said the company has acquired the mutual fund distribution business of Centcart Money Services by the company's step-down subsidiary Choice Wealth.

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