Grasim Industries’ Board of Directors has approved the issuance of non-convertible debentures on a private placement basis, with a maximum amount of Rs. 2,000 crore to be issued in one or more tranches. This is to raise funds for the company’s operations and future growth.
Shakti Pumps (India) Limited has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a large order of 25,000 stand-alone off-grid DC solar photovoltaic water pumping systems (SPWPS) pumps. The total value of the order is approximately Rs. 754.30 crores, and the company has 60 days to complete the execution of the order.
This news highlights two significant developments in the Indian business space. Grasim Industries is seeking to raise funds through the issue of non-convertible debentures, while Shakti Pumps India has secured a major order from MSEDCL for their innovative solar-powered water pumping systems.