Cipla, Greaves Cotton, RIL will be watched

Cipla: The drug major announced the commercial operation of additional capacity of captive renewable energy power plant in Maharashtra & Karnataka. In Jan'21, Cipla had commissioned 30 MWp solar project at Tuljapur, and now further added 16 MWp of solar capacity for supplying the renewable energy for its manufacturing units/ facilities in Maharashtra. In Karnataka wind solar hybrid captive power plant with capacity as 9 MWp solar + 2.7 MVA of wind has been commissioned in partnership with CleanMax Enviro Energy Solution

Greaves Cotton: Abdul Latif Jameel International DMCC will infuse $150 million (Rs 1160 crore) for 35.8% stake in company's wholly owned subsidiary, Greaves Electric Mobility ("GEMPL"). GEMPL has the right to secure additional funding of $70 million from investor over the next 12 months.

Post money equity value for Greaves Electric Mobility stands at $419 million or Rs 3238 crore. Greaves Cotton market cap stand at Rs 3745 crore. Greaves Electric will continue to remain subsidiary of Greaves Cotton even after both the rounds of fund infusion.

Vedanta: The miner proposes to offer rated, secured, redeemable, non-cumulative, non-convertible debentures aggregating upto Rs 4,100 crore in one or more tranches. In this regard, a duly constituted committee of the directors will meet on Saturday, 4 June 2022.

Reliance Industries: Reliance Brands (RBL) and Plastic Legno SPA have signed a joint venture arrangement through which RBL will acquire a 40% stake in Plastic Legno SPA's toy manufacturing business in India. This investment by RBL serves a dual purpose, bringing in vertical integration for RBL's toy business and helping diversify the supply chain with a long-term strategic interest in building toy manufacturing in India.

Balaji Amines: The board approved fund raising by way of an IPO in material subsidiary, Balaji Speciality Chemicals. The issue will include fresh issue of equity shares aggregating up to Rs 250 crore. Balaji Speciality Chemicals makes unique products like Ethylenediamine (EDA), Piperazine (Anhydrous), Diethylene Triamine (DETA) & Aminoethyliperazine (AEP).

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