Bharti Airtel announced that it has through its subsidiary Bharti Airtel Services, acquired a strategic stake in Seynse Technologies, a financial technology company for undisclosed sum. The announcement was made during market hours yesterday, 22 February 2017. The investment was completed by the company. Turnover of Seynse as on 31 March 2016 was Rs 6.53 lakh and had 41 employees. Seynse has created the popular digital leading platform Loan Singh, which enables easy loans for credit worthy yet under served borrowers. Seynse has built a proprietary credit engine and advanced machine learning capacity to serve customers.
NTPC said that the 115 megawatts (MW) out of 260 MW of Bhadla Solar Power Project of NTPC has been commissioned. With this, the installed capacity of NTPC's solar power projects has touched 475 MW. The total installed capacity of NTPC on standalone basis has become 41177 MW and that of NTPC group has become 48143 MW. The announcement was made after market hours yesterday, 22 February 2017.
Adani Power said that the convertible warrant holders, to whom the warrants were allotted in May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, management committee of the board of directors of the company at its meeting held on 22 February 2017 has made allotment of total 2.74 crore equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the said convertible warrant holders. Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 66.703% of the enhanced paid up equity share capital of the company. The announcement was made after market hours yesterday, 22 February 2017.
Dewan Housing Finance Corporation said it proposes to issue secured redeemable non convertible debentures amounting to Rs 1500 crore on private placement basis, pursuant to special resolution passed by the shareholders of the company at the 32nd annual general meeting held on 20 July 2016. The debentures hold a tenure of 10 years and carry a coupon rate of 8% per annum. The announcement was made after market hours yesterday, 22 February 2017.
Minda Industries announced that the company has entered into joint venture agreement with Katolec Corporation, Japan. The announcement was made after market hours yesterday, 22 February 2017. The proposed name for the joint venture company is Minda Katolec Electronics Services, which shall be incorporated with Minda holding 51% and Katolec holding 49% of the equity. The JV company is proposed to be set up in Pune, Maharashtra as an electronic manufacturing services company offering turnkey as well as job work solutions. The initial investment outlay is Rs 40 crore. The products to be manufactured would include high end electronics like printed circuit boards and box build assemblies.
Asian Oilfield Services said that its wholly-owned subsidiary, Asian Oilfield & Energy Services DMCC, Dubai, has signed a contract for providing operations and maintenance services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria. The total value of contract is about $95 million for a total period of 5 years (inclusive of client options). The company added that it had earlier announced on 27 December 2016 about receipt of a binding Letter of Intent (LOI) for contract of approximately $57 million for providing O&M services for 3 years. The above contract of $95 million for a total period of 5 years (inclusive of client options) is for the same LOI.
Further, the company's wholly owned subsidiary Asian Oilfield & Energy Services DMCC has also entered into an agreement to acquire 99.99% shareholding of Ivorene Oil Services Nigeria (a company registered under Nigeria) to provide local support for this O&M contract. The announcement was made after market hours yesterday, 22 February 2017.