Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

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Instacart is heading from the supermarket to the stock market.
The San Francisco-based grocery delivery company raised USD 660 million in its initial public offering of stock, selling 22 million shares at USD 30 apiece.
Its shares were set to begin trading on Tuesday on the Nasdaq stock exchange under the stock symbol CART.
The pricing of the IPO gave Instacart a market value of around USD 10 billion, significantly lower than the USD 39 billion value placed on it after a fund-raising round in 2021.
Instacart provides delivery and pickup from 85 per cent of US grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It also provides in-store technology, like smart carts and electronic shelf tags, and sells online ads to food companies and retailers.
It says it has 7.7 million active customers who spend about USD 317 per month on the platform.
In a letter to investors earlier this month, Instacart CEO Fidji Simo said grocery delivery has tremendous potent

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Sterlite Power on Friday said it has acquired Beawar Transmission Ltd for developing an electricity transmission project in Rajasthan.
Beawar Transmission is a Special Purpose Vehicle (SPV) of REC Power Development and Consultancy Ltd.
The SPV was awarded to Sterlite Power through tariff-based competitive bidding in August, a company statement said.
"Sterlite Power announces the acquisition of Beawar Transmission Ltd from REC Power Development and Consultancy Ltd, a wholly owned subsidiary of REC Ltd," it said.
The company did not share the financial details of the acquisition.
Through the Beawar Transmission Ltd, the company will build the Green Energy Corridor project on Build, Own, Operate, Transfer (BOOT) basis, for a period of 35 years, as per the statement.
This is Sterlite Power's 19th power transmission project in India acquired through tariff-based competitive bidding, the company said, adding that it now has Rs 12,000 crore worth of projects under management.
"Sterlite

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Tamannah, Shehnaaz Gill, Divya Dutta praised the Union government's decision to introduce the Women's Reservation Bill in the current parliament session

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Pharmaceutical ingredient manufacturing firm Valiant Laboratories has decided to launch its initial share sale for public subscription on September 27.
The Initial Public Offering (IPO), which is an entirely fresh issuance of 1.08 crore equity shares with no offer for sale component, will be concluded on October 3,  according to the red herring prospectus filed with Sebi on Friday.
Further, bidding for anchor investors will open on September 26.
Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd. -- and to meet the working capital requirements of the subsidiary company.
Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with its focus on manufacturing paracetamol, which is used in the treatment of headache, muscle ache, arthritis, backache, toothache, cold and fever.
The paracetamol API industry grew from Rs 2,200 cr

Iron Mountain has appointed Arvind Subramanian as Executive Vice President and Managing Director, India.
Iron Mountain, which is listed on NYSE, is a global leader in innovative storage, data centre infrastructure, asset lifecycle management and information management services.
Earlier, Subramanian was Managing Director (MD) and Chief Executive Officer (CEO) of Mahindra Group's real estate arm, Mahindra Lifespace Developers Ltd.
In February, the Mahindra Lifespace board approved the resignation of Subramanian as MD and CEO and as a director of the company with effect from May 22.
He has also held a senior leadership role at Boston Consulting Group.
Iron Mountain, in a statement on Thursday, said "Arvind Subramanian has joined the company on September 20th, 2023 as Executive Vice President and Managing Director, India."
Arvind will report to CEO William Meaney and will be responsible for Iron Mountain's commercial and operational activities across the company's storage, digital ..

Banking major ANZ has selected IT services company HCL Technologies (HCLTech) for a new engagement that entails digital workplace transformations across 33 countries.
HCLTech will provide ANZ with digital workplace services and experience management across end user devices and applications, including laptops, mobile phones and tablets, according to a release.
The release, however, did not divulge the size of the contract bagged by HCLTech.
"HCLTech, a leading global technology company, and ANZ, one of Australia's four largest banks and the largest banking group in New Zealand and the Pacific, have expanded their relationship with a new engagement that will transform ANZ's digital employee experience across 33 countries," it said.
HCLTech leverages new technologies including extended reality, GenAI (generative artificial intelligence) and IoT-powered workspaces to drive experiential, sustainable and inclusive workplaces for enterprises.
"We're excited to continue our long-standing 

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Sterlite Power buys Beawar Transmission to develop project in Rajasthan

B'wood actresses visit new Parliament, praise Women's Reservation Bill

Pharmaceutical firm Valiant Laboratories' IPO to open on September 27

Iron Mountain appoints Arvind Subramanian as executive VP, MD India

ANZ bank onboards HCLTech to drive digital workplace across 33 countries

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