Tech Mahindra's arm acquired 100% stake in Japan's K-Vision for $1.5 million. The target is engaged in providing network services for mobile communication carriers in Japan. The announcement was made after market hours yesterday, 14 March 2019.
Reliance Industries (RIL) will be watched. Brookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as sponsor and 90% investor, will invest Rs 13,000 crore to acquire the East West Pipeline (Pipeline). As a part of the transaction, the InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited (PIPL) which currently owns and operates the Pipeline.
RIL's current investment in preference shares valued at Rs 4,000 crore will continue and will be converted into equity at the end of 20 years. Further at the end of 20 years, RIL has the right to acquire equity shares of PIPL held by the InvIT at an equity value of Rs 50 crore. The announcement was made after market hours yesterday, 14 March 2019.
IDBI Bank has been categorized as a 'private sector bank' for regulatory purposes by Reserve Bank of India (RBI) with effect from 21 January 2019 consequent upon Life Insurance Corporation of India acquiring 51% of the total paid-up equity share capital of the bank. RBI made the announcement after market hours yesterday, 14 March 2019.
CMI said that it received vendor approval for power cables from four government entities in Q3 December 2018. With the increased list of vendor approval the manufacturing capacity of Baddi plant in Himachal Pradesh is going to improve considerably in the year 2019, CMI added. The announcement was made after market hours yesterday, 14 March 2019.
Adani Transmission said that the meeting of the board of directors of the company is scheduled on 20 March 2019 to consider buyback of non-convertible debentures (NCDs). The announcement was made after market hours yesterday, 14 March 2019.