Gold
Welspun Corp arm sells 5% stake in associate entity for about Rs 480 cr
Welspun Mauritius Holdings (WMHL), a subsidiary of Welspun Corp, has divested a 5% equity stake in East Pipes Integrated Company for Industry (EPIC) for 218.9 million Saudi Riyals (approximately Rs 480 crore). EPIC, based in Saudi Arabia, is a listed associate of Welspun Corp.The stake sale, which was executed in a series of negotiated trades on the Tadawul Stock Exchange, reduces WMHL’s stake in EPIC from 31.5% to 26.5%, though it remains the largest shareholder. The proceeds from the sale will be reinvested into Welspun's new subsidiary, Welspun Pipes Company, KSA, which is set to finance ..
Vedanta plans to invest around $550 million in AvanStrate
Vedanta Limited is set to invest approximately $550 million in its group company, AvanStrate Inc. (ASI), a global leader in display glass manufacturing. Earlier this year, Vedanta acquired a 98% stake in ASI, and this new investment is aimed at driving innovation and expanding ASI’s capabilities in research and development (R&D), manufacturing, and product offerings.AvanStrate operates in Taiwan, South Korea, and Japan and is focused on developing next-generation glass products for advanced packaging. These innovations are expected to cater to high-growth sectors such as semiconductors, ..
SBI to sell 100 billion-rupee infra bonds by end of November
State Bank of India (SBI), the country’s largest lender, is set to issue infrastructure bonds worth 100 billion rupees (approximately $1.19 billion) by the end of November. This move comes as demand for credit remains strong in sectors such as steel, roads, and renewable energy.The bond issuance will be SBI's third this year and is expected to raise funds for long-term infrastructure development projects. According to sources with direct knowledge of the matter, the bank will issue a 15-year bond to meet its financing needs. While SBI's board has already approved the bond issue, it did not p..
