The Government of India, through the Department of Financial Services under the Ministry of Finance, is moving forward with the divestment of its stake in Central Bank of India via an Offer for Sale (OFS). The promoter intends to sell up to 36.21 crore shares, equating to 4% of the bank’s total issued and paid-up equity share capital. Additionally, there is an option to sell an extra 36.21 crore shares in case of oversubscription, with the floor price set at ₹31 per share.
In other developments, Dalmia Cement (Bharat) Ltd, a wholly owned subsidiary of Dalmia Bharat Ltd, has signed a Business Transfer Agreement to acquire cement assets previously held by Jaiprakash Associates Ltd (JAL), which is now owned by the Adani Group as part of the Insolvency & Bankruptcy Code (IBC) framework. The deal, valued at ₹2,850 crore, involves cement plants located in Rewa (Madhya Pradesh) and Churk, Chunar, and Sadwa (Uttar Pradesh).
Exato Technologies Ltd has announced the receipt of three orders from iQor India Services Private Limited in Noida for managed services, amounting to a total of ₹24.57 crore, exclusive of applicable taxes and duties.
Eicher Motors Limited (EML) and Volvo Group have revealed plans to create a 50:50 Joint Venture aimed at financial services, including financing and leasing. EML’s board has approved an investment of up to ₹750 crore to acquire a 50% equity stake in Volvo Financial Services (VFS) India. This initiative comes as a continuation of their successful partnership through Volvo Eicher Commercial Vehicles Ltd (VECV), serving as the captive financing arm for both EML and Volvo Group products in India.
Carysilnox Limited, formerly Carysil Steel Limited and a subsidiary of Carysil Ltd, has commenced commercial production of an additional 70,000 steel sinks per annum as of May 21, 2026. This expansion raises its annual capacity of stainless steel kitchen sinks from 180,000 units to 250,000 units.
Tejas Networks has entered into a Memorandum of Understanding (MoU) with the Maharashtra Information Technology Corporation Limited (MahaIT) to provide training and certification in emerging telecom technologies for engineering students across Maharashtra, with a focus on underserved regions. The MoU aims to facilitate skilling and certification through online and instructor-led training programs.
Dhabriya Polywood Ltd has secured a work order from Arasa Projects & Radiance Realty Group for the supply and installation of uPVC windows and doors valued at ₹10.90 crore, inclusive of GST.
In other news, Cryogenic OGS Limited has obtained a Purchase Order for supplying Metering Skids from Endress and Hauser India, with a value of ₹1.49 crore, excluding GST.
Emerald Finance has partnered with Punjab Enviro Technology Pvt Ltd to introduce an Early Wage Access program that allows employees to access portions of their salaries instantly. The initiative provides short-term loans repayable through salary deductions, aligning with their strategy to broaden retail offerings.
Finally, Varun Beverages has renewed and extended its exclusive bottling and trademark licensing agreement with PepsiCo in India to April 2049. The updated agreement supersedes the previous arrangement, which was valid until April 30, 2039.
This article was published on May 22, 2026.
