APOLLO HOSPITALS
Approval having
been accorded by the Board of Apollo Hospitals Enterprise Limited for sale of the entire
9.96% equity stake held by AHEL in Apollo Munich Health Insurance Company Ltd.
In this context, Share Purchase Agreements (SPA) had been executed by and amongst,
Apollo Hospitals Enterprise Limited (AHEL), Housing Development Finance Corporation
Limited (HDFC), HDFC ERGO General Insurance Company Limited (HDEC Ergo), Apollo
Munich Health Insurance Company Limited (AMHI), Apollo Energy Company Limited
(AECL), Munich Health Holdings AG and other shareholders of AMHI for and in connection
with the acquisition of upto 51.2°/a of shareholding of AMHI by HDFC from AHEL, AECL
and other shareholders, subject to receipt of approvals from the Competition Commission
of India (CCI), the Reserve Bank of India (RBI), the Insurance Regulatory and
Development Authority of India (IRDAl) and/or other regulatory approvals and
subsequent merger of AMHI with HDFC Ergo.
In this connection, we wish to inform you that AMHI, HDFC Ergo and HDFC have received
requisite approvals for the said acquisition from CCI, RBI and the last being from IRDAl
on January 1, 2020.
The Insurance Regulatory and Development Authority of India vide Its letter No.
353/(F&A(NL)/F4erger/Apollo-HDFC/O1/2019-20/412 dated January 1, 2020 inter-alia
granted the approval under Section 6A of the Insurance Act, 1938 for transfer of upto
51.2% equIty share capital of AMHI from AHEL, AECL and other shareholders to HDFC;
We further wish to inform you that in accordance with the SPA, the acquisition of shares
by HDFC is expected to be completed by January 9, 2020
FDC LTD
This is to inform you that the Company has received GMP certificate and it continues with
its approved status from UK MHRA (Medicines and Healthcare Products Regulatory
Agency), for two of its Oral solid Dosage form facilities situated at L-56/57 and L-121 in
Verna, Goa, based on recent Good Manufacturing Practice (GMP) inspection held at the
said Plants.
TCS
TCS Named a Leader and Star Performer in Life & Pensions
lnsurance BPO Services by Everest Group
ln an assessment of 16 global service providers offering L&P insurance BPO services, TCS was placed
highest for both Vision and Capability, as well as Market lmpact. Additionally, it was named a Star
Performer for having top quartile year-on-year improvement in its scores.
The report says that TCS' large deals have boosted its competitive positioning and made it the largest
player in the L&P insurance business operations and third-party administration market. lt also
recognizes TCS' success in leveraging the TCS BaNCS'" platform to lay a strong foundation for expansion
in North America to capitalize on the increased demand for BPaaS from L&P insurers and effectively
compete for end-to-end platform modernization deals. TCS' integrated lT-Ops capability that enable it
to deliver more domain-centric digitally advanced solutions to customers, was highlighted as a
strength.
STERLITE TECHNOLOGIES
We wish to inform that the Company has been awarded the mandate to create a high speed rural broadband network
from Telangana Fiber Grid Corporation Ltd. (T-Fiber). Supporting the vision to establish a 'Digital Telangana', T-Fiber
and STL will work together for enabling affordable and high-speed broadband connectivity to 6 million rural citizens in
the state of Telangana.
Government of Telangana is taking big leaps to build and leverage the broadband infrastructure under
BharatNet, which aims to provide broadband connectivity to all 250,000 gram panchayats in the country. As a
state-led program, Telangana Government has initiated T-Fiber to provide broadband connectivity up to the
household level across the state by rolling-out optical fiber and network infrastructure.
STL was awarded a work order for about Rs.1100 crore for Phase- 1 of the project. The total project value is
worth about Rs.1800 crore for which STL has received the letter of intent.
This turnkey project entails designing and building an end-to-end rural broadband network across 11 districts,
3000 gram panchayats of Telangana and managing the network for an additional seven years. The project
has a significant O&M revenue stream, close to 30% of the overall Project value.
The scope includes rolling out end-to-end network connectivity by deploying 64,000 kms of OFC (Optical
Fibre Cable) Network, as well as deploying IP MPLS (Multiprotocol Label Switching), a routing technique and
GPON (Gigabit Passive Optical Network), a point to multipoint access to create seamless network
connectivity. STL will leverage its latest network solutions such as LEAD360, iCORE and FTTx Mantra to
deliver this project.
RITES
RITES SECURED PROJECT MANAGEMENT CONSULTANCY
WORK AMOUNTING TO USD 14.01 MILLION (RS. 99.94 CRORE)
RITES has secured a major work of project Management Consultancy
from the Government of Bangladesh amounting to USD 14.01 Million
(Rs. 99.94 crore) in relation to 4 laning of National Highway in
Bangladesh. RITES is a lead partner in the JV arrangement and will
receive USD 10.88 Million (RS. 77.57 crore) out of the total consultancy
fee of USD 14.01 Million (Rs. 99.94 crore). Amount is inclusive of taxes.
(1 USD = INR 71.31)
JSW ENERGY
Company has entered into an agreement with JPVL on 2nd January, 2020 to
re-structure the principal outstanding amount of Rs.751.77 crore, owed by JPVL to the Company. The key
terms of the agreement are as follows:
An amount of Rs.351.77 crore to be converted into equity shares of JPVL at par value of Rs.10 each.
Out of the balance outstanding principal amount of Rs.400 crore, Rs.280 crore to be written off and
Rs.120 crore to continue as debt to be paid by JPVL to the Company, quarterly on priority basis, out
of the available cash flows after JPVL has paid 10% of the re-structured sustainable debt to its
secured lenders.
The Company has already made a provision for Rs.574.19 crore in quarter ended 31st March, 2018 for
the above.
Further, JPVL and the Company have agreed to waive their respective rights to receive any payments
from each other and unconditionally release each other from all liabilities in relation to the Securities
Purchase Agreement dated 16th November, 2014 for transfer of Karcham and Baspa hydro assets from
JPVL to the Company. This will result in reversal of an amount of Rs.177.48 crore of liabilities payable to
JPVL in the Company’s books.