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Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of PFC and REC to help achieve scale and improve efficiency in the public sector NBFC space The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said. Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of Power Finance Corporation ...Read More >
Mumbai: Shares of Power Finance Corporation (PFC) and REC Limited saw strong movement in the market. Around 2 PM, PFC stock was up nearly 1 percent at about Rs 410, while REC shares also gained around 1 percent to trade near Rs 330. The rise came after reports of a possible merger between the two companies. Government's New Strategy According to sources from the Finance Ministry, the government is exploring a new approach for the merger. If PFC and REC combine, the government may not need to h ...Read More >
New Delhi: The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said. Finance Minister Nirmala Sitharaman had, in the FY27 Budget, announced the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to help achieve scale and improve efficiency in the public sector NBFC space. "The government would ...Read More >
New Delhi, Sep 30 (PTI) Ola Electric Mobility on Tuesday said its unit has received approval from the board as well as shareholders to raise Rs 878 crore by issuing preference shares. Ola Electric Technologies Pvt Ltd obtained approval from its Board and shareholders to raise funds by way of issuance of up to 87,76,40,000 non-cumulative and non-participating 0.001 per cent Series A Optionally Convertible Redeemable Preference Shares of face value Rs 10 each, at a consideration of Rs 877.64 cror ...Read More >
New Delhi, Sep 29 (PTI) Homegrown Premier Energies on Monday announced securing multiple solar contract worth USD 19.95 million (around Rs 177 crore) Republic of Benin, West Africa. These projects are part of a national initiative by the Government of Benin to expand access to reliable, sustainable clean energy, Premier Energies said in a statement. Implementation will be carried out by Premier Energies in collaboration with the General Directorate of Energy Planning and Rural Electrification, ...Read More >
New Delhi, Sep 29 (PTI) California-based technology firm UST on Monday announced a joint venture with Indian semiconductor manufacturer Kaynes Semicon to set up a Rs 3,330 crore OSAT (Outsourced Semiconductor Assembly and Test) facility in Sanand, Gujarat. The investment paves the way for deeper collaboration between UST and Kaynes Semicon in driving innovation across electronics, electric vehicles, renewables, and consumer technology, while supporting India's push to become a global semiconduc ...Read More >
New Delhi, Sep 1 (PTI) Chip company Kaynes Semicon will allot 27,778 compulsorily convertible preference shares, offering up to 10 per cent share capital upon conversion, to US Technology International (UST) for collaboration in the semiconductor packaging business, according to an exchange filing. Kaynes Semicon, a wholly-owned subsidiary of Kaynes Technology India Ltd, is setting up an Outsourced Semiconductor Assembly and Test (OSAT) plant in Sanand, Gujarat. Kaynes Semicon Private Limited ...Read More >
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