A flurry of corporate announcements marked the day, led by Ola Electric’s successful QIP, TVS Supply Chain’s aerospace venture, Inox Clean Energy’s ₹6,000-crore acquisition, and fresh investments in manufacturing, defence, healthcare and renewable energy.
Ola Electric Mobility has raised Rs 780 crore through a qualified institutional placement (QIP) that was oversubscribed 56 per cent, driven by strong participation from domestic and global institutional investors, stock exchange data showed on Thursday. The issue received bids worth about Rs 780 crore, with demand from long-only investors, including global names such as Goldman Sachs and BNP Climate Fund, alongside Indian mutual funds such as Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund, Kotak Mahindra Mutual Fund, JM Financial Mutual Fund, and Baroda BNP Paribas Mutual Fund, among others.TVS Supply Chain, ALA Group form aerospace and defence JVTVS Supply Chain Solutions and Italy’s ALA Group have partnered to build an aerospace & defence supply chain platform in India. In the JV, the Chennai-based TVS SCS will hold a 51 per cent stake, with the remaining 49 per cent held by the Italian company, and will start with an investment of €2 million, said R Dinesh, Executive Chairman, TVS SCS. The proposed investment of around ₹10 crore in TVS Packaging is intended to support business expansion initiatives and execution of definitive agreements with A.L.A Corporation for collaboration and development of opportunities in India’s aerospace and defence sectors, says a stock exchange filing.Aurobindo Pharma secures USFDA nod for Tofacitinib tabletsIn other industry news, Aurobindo Pharma has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Tofacitinib Tablets, 5 mg and 10 mg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Xeljanz Tablets, 5 mg and 10 mg, of PF Prism C.V. APL Healthcare Unit IV, a wholly owned subsidiary of the company, will produce the product.Maruti Suzuki launches India’s first flex-fuel passenger vehicleMaruti Suzuki India on Thursday launched India’s first flex-fuel passenger vehicle, introducing a version of its Wagon R Flex Fuel capable of running on ethanol-petrol blends ranging from E20 to E100, as the country seeks to reduce crude oil imports and lower carbon emissions. India has been promoting ethanol-blended petrol as part of its strategy to reduce dependence on imported crude oil, one of the biggest contributors to its current account deficit. The country has already rolled out E20 fuel, containing 20 per cent ethanol and 80 per cent petrol, and is now exploring higher ethanol blends made from biofuels produced from feedstocks such as sugarcane, maize and surplus rice.CG Power commissions new EHV switchgear facility in NashikCG Power & Industrial Solutions has commissioned an extra-high-voltage (EHV) switchgear manufacturing facility, S3 Unit-II, in Pimpalgaon Garudeshwar, Nashik, Maharashtra. This is in addition to the S3 Unit-I manufacturing facility at Ambad, Nashik, which manufactures EHV circuit breakers in the 33kV to 800kV. The new facility will manufacture EHV Circuit Breakers in the 33 kV to 245 kV range, expanding CG’s EHV circuit breaker manufacturing capacity by 80%. Equipped with advanced manufacturing and testing infrastructure, including 500 kV and 350 kV high-voltage testing laboratories, the Facility has been designed to meet the growing demand for reliable power transmission equipment across domestic and international markets.ABB wins order for electric tug propulsion systemsABB has secured an order from Cochin Shipyard to supply power and propulsion systems for two upcoming electric tugs at Jawaharlal Nehru Port Authority. A tug is a vessel used to push and escort large cargo ships into and out of the port area.Inox Clean Energy to acquire Vena Energy’s 6 GW portfolioInox Clean Energy Ltd, the renewable energy platform of the INOXGFL Group, has signed a definitive agreement to acquire the 6 GW India renewable energy portfolio of Singapore-based Vena Energy, valued at almost ₹6,000 crore. The portfolio comprises 1.2 GW of operational renewable energy assets, 1.8 GW of projects at an advanced stage of development and nearing commissioning, and an additional 3 GW of development-stage projects spread across six States — Gujarat, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, and Telangana, a company spokesperson told the businessline.HDFC AMC restricts large investments in gold ETFsHDFC Asset Management Company, one of the largest mutual fund houses, has imposed temporary restrictions on large lump-sum investments in its gold exchange-traded fund and gold ETF Fund of Funds (FoF) from June 5. In an addendum issued on Thursday, HDFC AMC said that, in light of broader economic and market conditions, it has decided to temporarily restrict lump-sum subscriptions to HDFC Gold ETF and HDFC Gold ETF Fund of Funds until further notice.Bharat Gears invests in solar power-linked entityBharat Gears has invested Rs 1.27 crore in Hexa Energy HR5 by acquiring 13,134 shares at Rs 970 each, equivalent to 29.55% of the latter’s paid-up share capital. The said investment has been made in accordance with the requirements under the applicable Electricity Laws for the time being in force upon the purchase of Solar Power by the company for the Faridabad and Mumbra Units of the company, it said.Goldman Sachs buys Groww parent shares worth ₹210 croreGlobal financial services firm Goldman Sachs on Thursday bought more than 1.13 crore shares of Billionbrains Garage Ventures, the parent company of Groww, at Rs 185.50 per share from venture capital firm Friale, for Rs 210 crore, in an open-market transaction.Nephrocare Philippines acquires dialysis centre assetsNephrocare Health Care Services, Philippines Inc., a step-down wholly owned subsidiary of Nephrocare Health Services, has entered into an Asset Transfer Agreement (ATA) with Inocentes Dialysis Clinic on June 4. The agreement is for the acquisition of identified assets relating to a dialysis centre located at Duyan-Duyan, Project 3, Quezon City, Philippines, for a total consideration of 30.00 million Pesos, subject to the terms and conditions set out therein.Afcons Infrastructure raises ₹25 crore via commercial papersAfcons Infrastructure has issued Commercial Papers (CPs) of Rs 25 crore on a private placement basis. The CPs have a tenure of 182 days, with a maturity date of December 03, 2026. The interest rate is 8.05%, paid upfront. The said Commercial Papers are proposed to be listed on the National Stock Exchange of India.Published on June 5, 2026
