CCI nods 26% stake acquisition in ONGC Tripura Power Company by GAIL

13 Sep 2021 CW Team

Fair trade regulator, Competition Commission of India (CCI), gave its nod for the 26% equity stake acquisition in Oil and Natural Gas Corporation (ONGC) Tripura power company by Gas Authority of India (GAIL).

The equity stake is being acquired from Infrastructure Leasing & Financial Services Limited (IL&FS) group companies IL&FS Energy Development Company Limited and IL&FS Financial Services Limited.

As per a combination notice, GAIL had competed in open bidding and had come out as the highest bidder as per the expression of interest (EOI) issued for obtaining a 26% stake held by the IL&FS group in ONGC Tripura Power Corporation Limited.

Commission approves acquisition of 26% stake in ONGC Tripura Power Company by GAIL, CCI said.

As per the combination notice, GAIL India and ONGC Tripura's combined value of assets and turnover is Rs 71,959.84 crore and Rs 73,408.82 crore for the ending March 2020.

CCI said the commission allows the acquisition of Inflow Technologies by Savex Technologies.

According to a combination notice, Savex Technologies Private Limited and Inflow Technologies Private Limited have signed definitive agreements for all the Inflow's shares acquisition in various tranches.

Savex will acquire 100% of the shares of Inflow post the completion of the tranches, it added.

As per the notice, the intended transaction will allow the parties to deliver higher value to their existing clientele and better penetrate the multiple product segments in which the parties operate.

Both the entities are included in the distribution of information and communication technologies products.

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..