Business & Finance

Business & Finance

CCI Gives Nod To Blackstone-Emerson Electric Co Deal – EQ Mag

April 22, 2023 Anand Gupta

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Last year in October, Emerson announced that it will sell a majority stake in its climate technologies business to Blackstone The Competition Commission of India (CCI) on Friday said it has granted its approval for the stake acquisition in climate technologies’ business of Emerson Electric Co by BCP Emerald Aggregator LP. BCP Emerald Aggregator LP […]

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Business & Finance

Power Mech bags new projects worth Rs 720 crore – EQ Mag

April 22, 2023 Anand Gupta

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A project worth Rs 362 crore was secured in Uttarakhand for the construction of a government medical college and hospital for Uttarakhand Pey Jal Nigam Ltd, Power Mech Projects said in a regulatory filing. Power Mech Projects Ltd on Friday announced bagging various projects worth Rs 720 crore. A project worth Rs 362 crore was […]

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Business & Finance

IndiGrid raises Rs 1,140 crore via long term bonds from IFC – EQ Mag

April 21, 2023 Anand Gupta

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India Grid Trust has announced that IFC (International Finance Corporation) has subscribed to a listed NCD (non-convertible debenture) issuance of IndiGrid, aggregating to Rs 1,140 crore, according to a statement. India Grid Trust on Thursday said it has raised Rs 1,140 crore through long-term non-convertible debentures from International Finance Corporation. India Grid Trust (IndiGrid) is […]

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Business & Finance

Schneider Electric to set up new factory in West Bengal at Rs 140 cr investment – EQ Mag

April 21, 2023 Anand Gupta

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Schneider Electric on Thursday said it will invest Rs 140 crore to set up a new factory in West Bengal. The new facility will located at Prospace Industrial Park Pvt Ltd in Kolkata, covering an area of 9 acres, Schneider Electric said in a statement. “Schneider Electric aims to grow its capacity in producing products […]

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Business & Finance

PFC approves loan worth Rs 633 crore for deployment of 5000 EV cabs in Delhi – EQ Mag

April 21, 2023 Anand Gupta

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To help make the Delhi-National Capital Region cleaner and greener, power sector lender PFC has sanctioned a loan worth Rs 633 crore to Gensol Engineering Ltd. The passenger EVs are being leased to BMPL to expand its fleet of ride-hailing cabs. Blusmart Mobility Pvt Ltd (BMPL) on April 20 flagged off its first lot of […]

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Business & Finance

To Expand into South Korean Market for Precursors, GEM Partners with SK On and ECOPRO – EQ Mag

April 21, 2023 Anand Gupta

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The rising demand for EV power batteries has led to a corresponding increase in the demand for cathode materials used in Li-ion batteries. Cathode represents a fairly large share of the total manufacturing cost of a battery, coming around 40%. Furthermore, precursor represent a significant share of the total material cost of a cathode, reaching […]

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Business & Finance

Rs 156-crore plan to modernise power supply system in Himachal CM’s home district – EQ Mag

April 20, 2023 Anand Gupta

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The funds would be spent on the construction of new electrical sub-stations as well as modernisation of transformers and lines and many other works, he said, he added that once the modernisation plan is implemented, the district will stop facing any power supply related problems. The Himachal Pradesh Power Board on Wednesday said it will […]

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Business & Finance

India’s Adani Ports to consider buyback of debt securities – EQ Mag

April 20, 2023 Anand Gupta

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BENGALURU : India’s Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Wednesday it will consider its first and a partial buyback of certain of the company’s debt securities at a board meeting on April 22. Adani Ports will consider the buyback of the securities, which will either […]

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Business & Finance

ESG-led funding touches USD 7.9 bn in 2022: Report – EQ Mag

April 20, 2023 Anand Gupta

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As the funding winter deepened from the first quarter of 2022 after the Russian invasion of Ukraine and the resultant risk aversion, the overall funding from PEVCs into the country declined 12 per cent from the 2021 peak, when it had scaled USD 69.8 billion, according to a report by industry body Indian Venture and […]

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Business & Finance

ADB Ventures Invests in Selex to Expand Electric Two-Wheeler Usage in VietNam

April 20, 2023 Anand Gupta

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HA NOI, VIET NAM : The Asian Development Bank’s (ADB) venture capital arm ADB Ventures has signed an agreement to invest in an electric two-wheeler vehicle (E2W) and battery pack manufacturer, Selex Smart Electric Vehicles JSC (Selex), to reduce carbon emissions in high-usage applications such as last-mile cargo and passenger transport in Viet Nam. The […]

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