Investors bid for about 45.8 million shares of RVNL, which undertakes railway projects, or 1.8 times the 25.35 million shares on offer.
Graphite India makes graphite electrodes used in electric arc furnaces to make steel.
L&T has said it plans to take its stake up to 66.4 per cent by buying 31 per cent via the open offer and a 15 per cent stake purchase from the market for a consideration of Rs 10,730 crore.
To increase its revenues, KDMC has decided to impose property tax on 80,000 new constructions to increase its revenues by Rs 150 crore.
In the education sector, the government’s directorates of education, higher education and technical education managed to be on track on 74%, 86% and 79% respectively of their critical indicators.
India has launched a massive programme to upgrade infrastructure along the frontier, especially in Arunachal Pradesh, following a string of intrusions by Chinese troops. However, experts believe the work needs to be speeded up to match infrastructure on the Chinese side.
IDFC Alternatives had initially started off with under-construction and minority deals in the infrastructure space by teaming up with engineering, construction and procurement (EPC) firms—a strategy it moved away from for its second fund owing to risks faced on account of being severely over-leveraged.
India’s Adani Enterprises urged the government of Australia’s Queensland state to approve a management plan that would allow construction to start at its controversial Carmichael coal mine.
New investment worth Rs 5,000 crore is going to be injected in the Uttar Pradesh after the state government and IKEA signed a Memorandum of Understanding (MoU) for setting up an ‘integrated commercial project’ in the state which is expected to generate 8000 direct and indirect jobs. The first store in the state is expected to come up in Noida.