Corporate Strategic Moves: NTPC Acquisition, Lemon Tree Restructuring, Vedanta Demerger, and Other Key Announcements
NTPC acquired Sinnar Thermal Power for ₹3,800 crore, while Lemon Tree Hotels restructured with Warburg Pincus's investment and a subsidiary demerger. Vedanta received NCLT approval for subsidiary demergers. Other significant corporate actions include DMCC Specialty Chemicals appointing an independent director, ONGC extinguishing a well fire, ITC Hotels securing land for a new property, Yash Highvoltage's strategic acquisition, VPRPL promoters' reinvestment, Lloyds Engineering's technology licensing, and Chandan Healthcare's expansion into Punjab, highlighting diverse strategic growth and governance changes.
This news article details a series of significant corporate developments across various Indian companies. NTPC Ltd made a strategic move by acquiring Sinnar Thermal Power Ltd in Maharashtra for ₹3,800 crore, expanding its power production capabilities. Lemon Tree Hotels' board approved Warburg Pincus's acquisition of a 41.09% stake in Fleur Hotels, along with a ₹960 crore investment, leading to a reorganisation into distinct hotel management and ownership platforms. Vedanta Ltd secured NCLT approval for the demerger of key subsidiaries, including Talwandi Sabo Power Limited, aiming to enhance operational efficiency and create new investment opportunities.Further corporate news includes DMCC Specialty Chemicals appointing Ms Saloni Jhaveri as an independent director, strengthening its governance. ONGC successfully extinguished a gas blowout fire at its Mori well in BR Ambedkar Konaseema district. ITC Hotels received leasehold land from IICC to develop and operate a new hotel at Yashobhoomi in Dwarka, New Delhi. Yash Highvoltage Ltd completed a strategic acquisition of a 50% stake in Sukrut Electric Company Private Ltd for ₹5.24 crores, expanding its presence in electrical equipment. Vishnu Prakash R Punglia Ltd saw its promoters divest and then fully reinvest approximately ₹200 crore as an interest-free loan, reinforcing confidence in the company. Lloyds Engineering Works entered a technology licensing agreement with The Material Works Limited for advanced steel surface-cleaning solutions. Lastly, Chandan Healthcare marked its entry into Punjab with new diagnostic operations in Dera Bassi, forming a five-year partnership with Jeena Sikho Lifecare Ltd and planning further expansion.
