Page 3 - Companies

Occidental to sell OxyChem unit to Berkshire Hathaway for $9.7 billion

The company sunk deeper into debt after it closed its $12 billion acquisition of privately held US shale oil producer CrownRock last year, which strengthened its position in the Permian Basin

Lalbaba Engineering, CJ Darcl Logistics and Jerai Fitness file draft IPO

Engineering solutions company Lalbaba Engineering, CJ Darcl Logistics, the India arm of South Korea's logistics firm CJ Logistics, and fitness equipment maker Jerai Fitness and have filed draft papers with markets regulator Sebi to garner funds through initial share-sales. With these filings, the IPO pipeline remains strong. Over the past few days, nearly two dozen companies have submitted draft papers with Sebi, and so far, 77 main-board IPOs have been launched this year and several large issues are lined up for this month. The filing also comes at a time when the Indian market is experiencing a boom in primary market activity, despite a struggling broader equity market. The Kolkata-based Lalbaba Engineering's proposed IPO is a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 370 crore by promoters, according to the draft papers filed on September 29. Proceeds from its fresh issuance worth Rs 271 crore will be utilised for funding capital expenditure requirement for .

M&M to sell Finnish subsidiary Sampo Rosenlew to TERA for ₹52 crore

Mahindra & Mahindra will divest its Finnish arm Sampo Rosenlew Oy, maker of combine harvesters and forestry machines, to TERA for Rs 52 crore under a share purchase agreement

L&T, Standard Chartered tie up for $700 mn sustainability-linked facility

Larsen & Toubro (L&T) has secured a $700 million sustainability-linked trade facility with Standard Chartered, tied to carbon and water targets, reinforcing its commitment to green business practices

Amazon festival sale clocks record 380 million visits in 48 hours

Amazon's Great Indian Festival saw 380 million visits in 48 hours, led by tier 2-3 demand, GST savings, premium product sales and record participation from SMB sellers

Energy trading platform Prisma signs MoU with IGX for market cooperation

Prisma European Capacity Platform GmbH and Indian Gas Exchange Limited (IGX) on Tuesday signed a memorandum of understanding (MoU) on gas market cooperation to support transparent, efficient, and sustainable gas markets. "The MoU intends to build a basis for cooperation and development of modern, transparent and efficient gas markets, explore digital solutions for booking and trading gas and LNG, along with exchanging knowledge and best practices," IGX said in a statement. The MoU was signed during a delegation visit to Prisma's Leipzig headquarters. Under the MoU, Prisma and IGX will collaborate in areas such as knowledge sharing and training through joint workshops, training programmes, and capacity-building initiatives for regulators, operators, and market participants. The two would also explore best practices in digital solutions for booking and trading of natural gas and LNG infrastructure, as well as exchange insights on regulatory frameworks to support market transparency a

InCred, Analah consortium invests ₹50 cr in PRISM-backed Sunday PropTech

Sunday PropTech, backed by PRISM, raises Rs 50 crore from InCred and Analah-led consortium to expand premium and mid-premium hotels under brands such as Sunday and Townhouse

Kalyani Investment rebuts IIAS voting advice on Amit Kalyani at Hikal

Kalyani Investment has challenged IIAS's negative advice on Amit Kalyani's reappointment to Hikal's board, stressing his non-involvement in disputes and SES's support

HoABL invests ₹200 cr in affordable housing, plans 7 more sites in Mumbai

Realty firm House of Abhinandan Lodha is investing Rs 200 crore in an affordable housing project in suburban Naigaon, and looking at seven more sites to have similar developments in metropolitan Mumbai, a top company official said on Monday. HoABL chairman Abhinandan Lodha told reporters that it has started discussions on one of the sites, while the others are only identified ones. The seven sites include one near the upcoming Navi Mumbai International Airport, he added. "All these will be joint developments with people holding the land. We will look for over 20 lakh sq ft of development potential which will get delivered in about five years," the son of BJP leader Mangalprabhat Lodha who started this company in 2020, said. The Naigaon project, where it has partnered with Mittal Builders, is spread over 12 acres and will be built in two phases over the next five years, he said, adding that HoABL is investing Rs 200 crore in it. Lodha said his group which is also into plotted ...

GK Energy IPO worth ₹464 cr sees 6.41 times subscription on day two

The initial public offering of GK Energy Ltd, a solar-powered agricultural water pump systems provider, garnered 6.41 times subscription on the second day of share sale on Monday. The IPO received bids for 14,22,08,192 shares against 2,21,80,828 shares on offer, as per NSE data. The portion for non-institutional investors fetched 10.05 times subscription while the quota for retail individual investors got subscribed 6.84 times. Qualified institutional buyers quota received 2.90 times subscription. GK Energy on Thursday said it has collected over Rs 139 crore from anchor investors. The Rs 464-crore IPO will conclude on Tuesday. The price band has been fixed at Rs 145-153 per share. The Pune-based firm's offering is a combination of fresh issue of shares worth Rs 400 crore and an offer-for-sale (OFS) of 42 lakh equity shares, worth Rs 64.26 crore at the upper end, by selling shareholders. Proceeds from the fresh issue to the extent of Rs 322.5 crore will be utilised for funding the

Amazon Now to expand to over 300 dark stores by 2025 with ₹2,000 cr push

Amazon India will expand its Amazon Now network to more than 300 dark stores by end-2025, investing Rs 2,000 crore in storage, processing and delivery infrastructure

Oil India targets ₹1.3 trillion capex by 2030, says CMD Ranjit Rath

Oil India chief expects that the construction of Mozambique LNG project will resume by the end of this year

SpiceJet delays salaries of senior staff by 10-15 days, juniors unaffected

Employees earning up to ₹55,000 per month have received their August salaries, but higher-paid staff, mainly assistant managers and above, are experiencing delays of 10-15 days

Dabur challenges Colgate as India-US trade tensions hit toothpaste ads

Consumer goods company Dabur, valued at $11 billion, took out a front-page newspaper advertisement this week carrying photos of unbranded toothpaste packs that resemble Colgate packaging

Himachal directs companies to spend CSR funds within state: Minister

Himachal Pradesh government will ensure multinational companies set up in the state do not spend their CSR funds outside, Industries minister Harshwardhan Chauhan said in the Assembly on Friday. Raising the issue during the question hour, Sanjay Awasthi (Congress) named two large companies that are located in his Arki constituency and said the people there have been affected because of their projects, but funds under the corporate social responsibility (CSR) are not being used by them for the welfare of the locals. Responding to the remarks, Industries minister Harshwardhan Chauhan admitted that multinational companies were spending CSR funds in other states and not in Himachal. He assured that the government will enquire about the complaints regarding violations of environmental safeguards. Congress MLA from Doon Ram Kumar stressed that CSR funds should be used at the places where such companies are located and BJP MLA from Bilaspur Trilok Jamwal also complained that the company i

Indian company borrowing costs see steepest rise since 2022 on fiscal risks

The average yield on top-rated three year company notes climbed 26 basis points in two days through Tuesday, set for the steepest weekly gain since November 2022, data compiled by Bloomberg show

CleanMax to raise ₹5,200 cr via IPO; DRHP filed with Sebi for approval

The IPO, with a face value of ₹1, comprises a fresh issue of shares worth up to ₹1,500 crore and an offer-for-sale of up to ₹3,700 crore by promoters and investors

Nikhil Kamath invests ₹137.5 crore in Goldi Solar to expand capacity

Zerodha co-founder Nikhil Kamath invests ₹137.5 crore in Goldi Solar, supporting its expansion into solar cell manufacturing and capacity growth in renewable energy

Varun Beverages Q2 results: Profit up 5% to ₹1,325.4 cr, revenue down 2.32%

Varun Beverages Ltd, PepsiCo's largest franchise bottler, on Tuesday reported a 5.04 per cent increase in its consolidated net profit to Rs 1,325.4 crore for the second quarter that ended June 2025, helped by operational efficiencies and lower finance cost, though volume was impacted in peak summer season due to unseasonal rains. The company, which follows the calendar year as its financial year, had posted a net profit of Rs 1,261.8 crore in the April-June quarter a year ago, according to a regulatory filing from Varun Beverages Ltd (VBL). However, its revenue from operations declined 2.32 per cent to Rs 7,163.02 crore in the June quarter of FY26. It stood at Rs 7,333.67 crore in the corresponding quarter last fiscal. During June, VBL reported a 3 per cent drop in consolidated sales volume at 389.7 million cases in Q2 CY2025 from 401.6 million cases in Q2 CY2024, primarily due to abnormally high unseasonal rainfall throughout the quarter in India," the bottler said in its earnings

Looking to maintain double-digit profit growth in FY26: MHRIL CEO Bhat

Mahindra Holidays & Resorts India is looking to maintain a double-digit growth in its consolidated profit for the remaining part of this fiscal, buoyed by a strong performance in the first quarter, according to its Managing Director and CEO Manoj Bhat. The company, which plans to add about 1,000 rooms this fiscal as part of its overall target of increasing its key count to 10,000 by FY30, is on track with inventory additions, Bhat told PTI. "If you look at the consolidated profit growth of 18 per cent in Q1, I think that would be our target. In that range, we will look at growing our profits through the course of the year," he said when asked for the outlook for the remaining part of the fiscal year. In the first quarter, Mahindra Holidays & Resorts India Ltd (MHRIL) had posted a consolidated profit after tax of Rs 7.2 crore against Rs 6.1 crore in the year-ago period, up 18 per cent. Its total income increased 8 per cent to Rs 740.2 crore compared to Rs 686.1 crore in the ...