Bharat Forge

Bharat Forge has on 22 February 2024 infused funds in Bharat Forge Global Holding GmbH (BFGH), a wholly owned subsidiary of the Company. This amount will then be invested by BFGH into Bharat Forge Holding GmbH (BFH) for subsequent investment in Bharat Forge Aluminiumtechnik GmbH (BFAT), a wholly owned subsidiary of BFH.

Bharat Forge Aluminiumtechnik GmbH (BFAT) is a wholly owned step down subsidiary of Bharat Forge. BFAT is engaged in the manufacturing and supply of aluminium components for automotive industry. Accordingly, the investment by the Company in BFGH for further proposed investment in BFH and subsequent proposed investment in BFAT is in furtherance of BFAT's main line of business.

The investment of Euro 15 million (Rs 133.58 crore) will tentatively be completed by 29 February 2024.

Grasim Inds

Aditya Birla Group Chairman, Kumar Mangalam Birla, today announced the launch of products and services under its new decorative paints brand, “Birla Opus”, aiming for Rs.10,000 Cr gross revenue within 3 years of full-scale operations. This marks the Aditya Birla Group's entry into the rapidly expanding Rs. 80,000 crore Indian decorative paints market, with an unprecedented level of upfront investment of ~Rs.10,000 crore. Birla Opus business is being set up by the group flagship company, Grasim Industries.

Birla Opus products will be available in Punjab, Haryana, and Tamil Nadu from mid-March 2024 and across all 1 lakh population towns in India by July 2024. The company aims to expeditiously expand its distribution to over 6,000 towns by the fiscal year end. This will be the fastest & widest pan-India launch by any paint brand.

The Aditya Birla Group Chairman also unveiled the brand logo of ‘Birla Opus'. The name ‘Birla Opus' embodies the trust that underpins the Aditya Birla brand, with ‘Opus' signifying beauty personified. The word ‘Opus' is derived from the Latin phrase “magnum opus”, which represents a great work of art.

ION Exchange

Ion Exchange (India) has received the approval of t National Company Law Tribunal, Mumbai Bench vide its order dated 21 February 2024 for scheme of amalgamation of wholly owned subsidiaries viz. Global Composites and Structurals and Ion Exchange Environment Management with Ion Exchange (India).

J B Chem & Pharm

J B Chemicals & Pharmaceuticals has granted 21,000 time-based stock options and 9,000 performance-based options to an eligible employee of the Company under the Company's Employees Stock Option Scheme “JBCPL Employee Stock Option Scheme 2021” (“Scheme”). The exercise price for these options is Rs. 1,018 per share. The timebased options shall vest over one to three years.

The total outstanding stock options stand at 50,20,886 (comprising of 20,80,920 time-based stock options and 29,39,966 performance-based stock options).

Larsen & Toubro

The Buildings & Factories (B&F) vertical of Larsen & Toubro (L&T) has recently secured an order from a reputed real-estate developer to construct Multi storeyed residential towers at Thane in the Mumbai, metropolitan Region. According to the company's project classification, the order is valued in range of Rs 1,000 crore to Rs 2,500 crore.

The scope of the order includes construction of the core and shell works for five towers having 62 floors and allied parking area comprising basements+ground+5 podiums.

“With the economy showing encouraging positive movement, we see good opportunities in the residential buildings sector,” said M V Satish, Whole-time Director & Senior Executive Vice President (Buildings), L&T. “We have executed some unique and prestigious structures over the past few years and recently have been introducing new technologies and advanced methods to fast-track construction that is becoming increasingly green and sustainable and, at the same time, reflecting the spirit of Atmanirbhar Bharat. We see this order as another opportunity for us to delight our customers.” he added.

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