- Interglobe Aviation (IndiGo): Co-founder Rakesh Gangwal is considering selling up to 5.8% stake in Interglobe Aviation, aiming to generate ₹6,600 crore, higher than the initial plan of 3.3%. Shares are priced at a minimum of ₹2,925 each.
- HDFC Bank: Initiates the process for the IPO of its subsidiary, HDB Financial Services, scheduling it for Q4 2024 or Q1 2025. The IPO is estimated to value HDB Financial between $9 billion and $12 billion.
- Reliance Industries: Viacom18, owned by Reliance, restructures its entertainment businesses ahead of an $8.5-billion merger with Disney’s India unit, appointing key executives for digital, sports, and content businesses.
- SJVN Green Energy: Signs a long-term agreement to supply 600 MW of solar power to Rajasthan, involving 500 MW from the Bikaner Solar Power Project and 100 MW from the Rajasthan Solar Power Project.
- Zee Entertainment Enterprises: Announces significant changes in the revenue section, leading to the resignation of President, Business, Rahul Johri. Additional departures at the senior level are anticipated.
- Sun Pharmaceuticals: Recalls around 55,000 bottles of generic gout medication in the US due to manufacturing practice deviations, withdrawing Febuxostat Tablets in 40 mg and 80 mg strengths.
- Rail Vikas Nigam Limited: Commissioned by Madhya Pradesh Metro Rail Corporation to design and build an elevated viaduct, five elevated metro stations, and a ramp, with a project completion time of approximately three years.
- Nazara Technologies: Plans to acquire Smaaash Entertainment Pvt. Ltd through the insolvency and bankruptcy process, submitting a resolution plan to revive the bankrupt firm.
- Gensol Engineering: Secures the leading position for a standalone Battery Energy Storage Systems (BESS) project with a capacity of 70 MW / 140 MWh out of a total of 250 MW / 500 MWh, providing on-demand energy storage to Gujarat Urja Vikas Nigam Ltd.
These developments are shaping the stock market landscape, impacting various sectors and companies.
