Author: MM Desk

Adani Energy Solutions (AESL) announced on Thursday the successful completion of its acquisition of Essar Transco Ltd (ETL), marking a significant milestone in its expansion strategy. The acquisition includes the operational Mahan-Sipat transmission project, positioning AESL as a key player in the Indian transmission sector. Formerly known as Adani Transmission Limited, AESL had entered into a share purchase agreement in June 2022 to acquire the transmission project owned and operated by Essar Power Transmission Ltd at an enterprise value of ₹1,913 crore. In a stock exchange filing, Adani Energy Solutions confirmed that Essar Transco Ltd has now become a wholly-owned…

Singapore’s APRIL Group, a prominent player in the global fiber, pulp, and paper industry, has announced the acquisition of a majority stake in Origami, a leading consumer tissue products company based in India. In a media release on Wednesday, APRIL Group revealed its strategic move into the rapidly expanding market for tissue and personal hygiene products in India. Origami, established in 1995, operates tissue paper mills and converting plants across India, producing a diverse range of products including facial tissues, paper napkins, tissue rolls, kitchen towels, hand towels, and wet wipes under the Origami and associated brands. Despite the acquisition,…

Oil and Natural Gas Corporation (ONGC) is reportedly in discussions with NTPC Green Energy to form a consortium for a potential joint bid to acquire Ayana Renewable Power, owned by the National Investment and Infrastructure Fund (NIIF). According to sources familiar with the matter, ONGC and NTPC Green Energy are exploring various options, including a joint bid or individual bids, for Ayana Renewable Power, headquartered in Bengaluru. Several prominent players in the renewable energy sector, including JSW Neo Energy, Sekura Energy, Masdar, Macquarie, and Sembcorp, have already submitted non-binding offers to acquire a controlling stake in Ayana Renewable Power. NIIF,…

LG Electronics, the renowned Korean consumer electronics giant, is doubling down on its commitment to the Indian market by unveiling a range of home entertainment products customized for Indian consumers. Senior company officials reaffirmed LG’s dedication to maintaining its leadership position in the television segment through strategic product offerings tailored specifically for Indian preferences. LG Electronics India recently launched 55 AI-enabled television models, underscoring its commitment to innovation and customer-centric solutions. With an ambitious growth target of 25-30% this year in the home entertainment (HE) vertical, LG Electronics India is poised for significant expansion in one of its most crucial…

The renowned Indian snack giant Haldiram Snacks Food Pvt Ltd has become the epicenter of a fierce ownership battle, attracting some of the world’s most powerful private equity players. The 87-year-old company is witnessing an unprecedented bidding war, potentially marking the largest private equity acquisition in India’s history. Bain Capital, in collaboration with Singapore’s Temasek, is vying for control against a consortium led by Blackstone. Bain and Temasek recently made a non-binding offer that values Haldiram at an impressive $8-8.5 billion. This valuation underscores Haldiram’s dominant presence in India’s burgeoning snack and convenience foods market. Initially, both Bain and Temasek…

Clara Smith has been appointed as Vice President of Strategy & Transformation at Seco Tools, effective immediately. In her new role, Clara will join the Seco Management Group (SMG) and report directly to Stefan Steenstrup, President of Seco Tools. She will be based in the United Kingdom. Clara brings extensive experience in strategy, transformation, and leadership, with a proven track record of implementing significant changes in large organizations. Her expertise spans market and operational strategy development, mergers and acquisitions (M&A), cross-border antitrust, and corporate transformation. Before joining Seco Tools, Clara served as Group Head of Market Strategy at Hitachi Rail,…

Pluugin E-commerce, a prominent borderless e-commerce enabler, has officially launched its operations in India. Headquartered in Dubai, UAE, the company already has a robust presence in global markets such as Southeast Asia (SEA), SAARC, and the Middle East & North Africa (MENA). This expansion into India marks a significant milestone in Pluugin’s mission to facilitate brands in scaling up their businesses across international borders. Founded in 2022, Pluugin E-commerce has experienced a remarkable 100% year-on-year growth, underscoring the growing importance of e-commerce in modern business models. The company’s client roster spans various sectors, including FMCG, consumer electronics, small appliances, health…

TVS Motor Company (TVSM), a leading global manufacturer in the two and three-wheeler sector, has officially launched its operations in Italy. This strategic expansion introduces a range of advanced thermic and electric scooters and motorcycles to the Italian market. With this move, TVS Motor Company, already ranked as the world’s fourth-largest two and three-wheeler manufacturer and third in market capitalization, extends its presence in Europe, adding to its footprint in over 80 countries worldwide. TVS Motor Company will manage its Italian operations through its new branch office, TVS Motor Italia, led by Dr. Giovanni Notarbartolo di Furnari. Dr. Furnari, who…

The 3D printing industry has witnessed exponential growth and technological upgrades with companies embracing its revolutionary benefits across various sectors. Marking a significant milestone in the evolution of additive manufacturing, Formlabs launches Form 4, a 4th generation desktop resin 3D printer. Form 4 was launched on 15th May 2024 by Formlabs and Imaginarium at Hotel Tip Top International, Wakad, Pune. Form 4 revolutionizes 3D printing by targeting heightened productivity and reduced time to market, particularly within the healthcare sector. With an impressive speed increase of up to five times faster than its predecessor, Form 3, it streamlines part production to…

Berger Paints India reported a significant rise in its net profit for the fourth quarter, with a 19.7% increase to Rs 222.62 crore compared to the same period last year. However, sequentially, the profit declined by 25.8%. The company’s revenue for the March quarter saw a marginal rise to Rs 2,520.28 crore. For the full fiscal year, Berger Paints India reported a revenue of Rs 11,198.9 crore, marking a 6% increase from the previous year. In a notable announcement, Berger Paints declared a dividend of Rs 3.5 per equity share. Despite the profit increase, the firm’s earnings before interest, taxes,…