The Department of Telecom (DoT) has asked debt-ridden telecom operator Vodafone Idea to either deposit a bank guarantee of ₹6,090.7 crore or ₹5,493.2 crore in cash for shortfall of aggregate payment made for spectrum the company acquired in 2015. The company, however, is in discussion with DoT to pay the dues through equity.
Aurobindo Pharma has informed the exchanges that the European Commission (EC) has granted marketing authorisation in the European Union (EU) for Zefylti, a filgrastim biosimilar, to CuraTeQ Biologics s.r.o., a wholly-owned step-down subsidiary of the company. Earlier in December 2024, the Committee for Medicinal Products (CHMP) of the European Medicines Agency has adopted a positive opinion recommending the approval of Zefylti.
Ugro Capital on Thursday said it has raised ₹260 crore from Dutch lender FMO through a non-convertible debenture issue. The proceeds are earmarked to drive initiatives in women’s empowerment, address territorial inequalities, and foster youth empowerment, according to a statement.
RBL Bank on Thursday said the Reserve Bank of India (RBI) has approved the re-appointment of R Subramaniakumar as the Managing Director & CEO for three years. The bank shall seek approval from the shareholders of the bank for re-appointment within the stipulated timelines, it said. Subramaniakumar has been MD & CEO of the bank since June 23, 2022.
TVS Motor Company on Thursday bought additional shares of TVS Supply Chain Solutions for ₹107 crore through an open market transaction. According to bulk deal data available on the BSE, TVS Motor Co purchased 67.10 lakh shares, amounting to 1.52 per cent stake in TVS Supply Chain Solutions at an average price of ₹159.42.
Waaree Renewable Technologies on Thursday said it has secured a 40 MWh battery storage contract from Continuum Green Energy. The project will be located at wind-solar hybrid sites in Gujarat. The contract is valued at Rs 40 crore, it said.
Electric two-wheeler maker Ather Energy on Thursday said it has entered into a partnership with ChargeMOD, a charge point operator in Kerala. The collaboration gives EV owners with the LECCS (Light Electric Combined Charging System) connector access to 121 more charging locations across Kerala.
Tata Consultancy Services has signed an agreement to drive the IT transformation of Finland-headquartered UPM. Finnish UPM specialises in producing recyclable products that are made of responsibly sourced, renewable raw materials. It operates production facilities in 11 countries and has a turnover of EUR 10.3 billion. Announcing the deal, a release said the digital transformation will help drive growth for UPM, enhance user experience, and boost adoption of an AI-first operating model.