Private equity firm Warburg Pincus offloaded 2.11% stake in solar module manufacturer Moser Baer India for over R2.2 crore through a series of open market sales between September 6 and September 14. The PE firm’s stake now stands at 4.82% in the company. The investor sold 35,49,355 shares of Moser Baer India. Waburg Pincus had sold 24.5% of its stake in the company in May this year to Global Town Investment in an off-market transfer deal. Moser Baer shares closed 2.14% up to R6.69 on the Bombay Stock Exchange on Monday.
RInfra forays into cement biz with Reliance Cement
Making its foray in the Indian cement market, Reliance Infrastructure (RInfra), part of the Reliance Group, announced the launch of Reliance Cement, the company’s cement brand, a company statement said. Reliance Cement will be manufactured from RInfra’s recently commissioned Butibori plant at Maharashtra and will mainly be delivered to Vidarbha market. The cement business will be housed under Reliance Cement Company, a subsidiary of RInfra.
RPower’s Sasan plant connected to national grid
Reliance Power (RPower) said its flagship 4,000 MW Sasan power project is now connected to the national grid, with the commissioning of a 400 Kv switchyard. The project is ready to draw power from the grid to provide start-up power for the plant’s first 660 MW unit which is nearing completion five months ahead of schedule, the company said. RPower said the switchyard would enable evacuation of power to seven states.
Ramco bags GoAir maintenance
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