🇮🇳 India Daybook: Tata Motors Launches ₹35,000-Cr Iveco Open Offer, RVNL Secures ₹903-Cr SJVN Order

📍 ORDER WINS & CONTRACTS

• Rail Vikas Nigam Ltd (RVNL): Secured a ₹903 crore Letter of Award (LoA) from SJVN Thermal Private Limited (a wholly owned subsidiary of SJVN Ltd) for civil and balance-of-plant works for the 1,320 MW Buxar Thermal Power Project in Bihar.
• Mazagon Dock Shipbuilders: Won a ₹118 crore purchase order from Maharashtra State Electricity Transmission Company Ltd (MSETCL) for the supply, installation, and commissioning of an AI-based Comprehensive Infrasecure Project across five substations.

📍 MERGERS & ACQUISITIONS

• Tata Motors: Tata Motors Commercial Vehicles launched an open offer to acquire shares of Italian commercial vehicle manufacturer Iveco Group at €14.1 per share, valuing the company at approximately €3.82 billion (~₹35,000 crore).
• AXISCADES Technologies: The board approved raising up to ₹200 crore via private placement of Non-Convertible Debentures (NCDs) at a 12.5% coupon rate to finance the acquisition of Bengaluru-based precision engineering company Cloud Wave Technologies.
• FSN E-Commerce Ventures (Nykaa): The board approved increasing its shareholding to 24.2% in its subsidiary, Earth Rhythm Private Limited.

📍 CORPORATE INVESTMENTS & CAPITAL EXPENDITURE

• CIE Automotive India: Invested ₹120.76 crore in wholly owned subsidiary CIE Hosur Limited via a rights issue to fund capex, debt repayment, and working capital needs.
• Shakti Pumps: Infused ₹11 crore into its wholly owned subsidiary, Shakti Energy Solutions, to scale up clean-energy operational capabilities.

📍 OPERATIONAL UPDATES & PRODUCTION

• JSW Steel: Reported a 3% year-on-year increase in consolidated crude steel production, recording 24.65 lakh tonnes for the month of August 2026.

📍 REGULATORY & USFDA UPDATES

• Indoco Remedies: The United States Food and Drug Administration (USFDA) concluded an inspection at the company’s sterile manufacturing facility (Plant II) located in Goa.
• Lupin: Received regulatory approval from the USFDA for key abbreviated new drug applications (ANDAs), adding momentum to its US generic portfolio.

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