Adani Realty gets MSRDC's 24-acre Bandra Reclamation redevelopment project
Adani Realty, a subsidiary of the Adani Group, has emerged as the top bidder for the redevelopment of the Maharashtra State Road Development Corporation's (MSRDC) 24-acre land at Bandra Reclamation near the Bandra-Worli Sea Link, outbidding Larsen & Toubro, the only other eligible bidder. Adani Realty offered a 23.15% revenue share, surpassing Larsen & Toubro's 18%. The final decision rests with the MSRDC Board next week. Key Points
Economic TimesGR Infra lowest bidder for 2 NHAI projects worth Rs 1,613 cr in Karnataka
GR Infraprojects Ltd on Tuesday said it has emerged as the lowest bidder for two NHAI projects worth Rs 1,613.84 crore. The financial bids were opened on March 28, 2023. Key Points
Economic TimesRussia’s TMH bids lowest for making 200 Vande Bharat trains in India
Indian engineering major Bharat Heavy Electricals Limited (BHEL) and Kolkata-based Titagarh Wagons tie-up has emerged as the second lowest bidder quoting Rs 139.8 crore per trainset. Key Points
The Indian ExpressPowergrid emerges as successful bidder for inter-state transmission project in Gujarat
New Delhi, Dec 5 (PTI) Power Grid Corporation of India Ltd (Powergrid) has emerged as a successful bidder for setting up an inter-state transmission system project in Gujarat. The company has received a Letter of Intent (LoI) in this regard on Monday, Powergrid said in an exchange filing. “Power Grid Corporation of India has been […] Key Points
ThePrintTender launched for operator for seaplane service between Sabarmati riverfront and Statue of Unity
While the tender, floated on Thursday, will be open for bids until June 26, physical tenders will be accepted until June 27. The date opening of the technical bid is June 28. Key Points
The Indian Express
Reliance ARC files plea against Vidarbha Industries’ debt sale
In its petition, Reliance ARC has raised concerns over the Swiss Challenge Auction process, according to a lawyer source. The concern is that when an ARC makes a bid to buy a troubled asset or a nonperforming asset (NPA), it automatically becomes an initial bidder and this gives the ARC the exclusive right to match any bid that comes in during the Swiss Challenge Process, the lawyer explained. Key Points
Economic TimesSmall companies can now chase India's giant AI dreams
Sunil Gupta, chief executive of Yotta Data Services, which has placed a purchase order of 16,000 H100 GPUs from Nvidia and went live with 4,000 H100 GPUs a few months ago, concurred. “By lowering turnover thresholds and introducing greater flexibility in AI compute infrastructure requirements, the govt has made it easier for a diverse range of players including and especially the startups in the AI services space to contribute to this mission.” Key Points
Economic TimesReliance Capital lenders' counsel asks Hindujas to roll out IBC plan
The National Company Law Tribunal (NCLT) approved the ₹9,650 crore resolution plan of IIHL in its order dated February 27. Torrent Investments, which was the other bidder in the fray, has contested the resolution process, and the matter is pending before the Supreme Court. Key Points
Economic TimesPiramal Capital to sell more loans for Rs 1,669 crore
This is the second loan that the company is looking to sell in less than 10 days. It had also sold a total loan outstanding pool of ₹3,656 crore to Omkara ARC for ₹625 crore last week. The sale resulted in a recovery of 17%s for Piramal. The principal outstanding of the pool was ₹3,656 crore as of May 15, 2023 and spread across 7-8 accounts. Key Points
Economic Times