TOP FIVE CORPORATE NEWS
· ICRA signs MOU with Punjab
National Bank
ICRA and PNB have signed a Memorandum of Understanding under which
ICRA will assign ratings to Small Enterprises/Small Scale Industries and Small
and Medium Enterprises that are borrowers of the Bank.
·
NTPC seeks waiver to bid for UMPP
NTPC planning to bid for the upcoming ultra mega power project and
seeking exemption from the investment ceiling on the state-run utility. The
UMPPs are expected to cost Rs 25,000-30,000 crore, which would require an
equity investment of over Rs 7,500 crore from the developer.
·
Amtek India acquires Kuepper Group
in Germany
Amtek India Limited has signed a contract, through a special
purpose vehicle, to acquire the Kuepper Group of companies for an undisclosed
cash consideration.
· Allahabad Bank gains after
preferential share allotment to government
Allahabad
Bank rose as it has allotted 4.45 crore equity shares at Rs 89.72 per share to
the Government of India on preferential allotment basis.
·
IRB receives financial closure for
projects
IRB Infrastructure Developers Ltd has announced that IRB Westcoast Tollway Pvt. Ltd. has achieved
financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project
finance of Rs. 1,406 Crore
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