Manali Petrochemicals Limited announced the divestment of its step-down UK subsidiary, Notedome Ltd, to the Italian chemical specialties company Chimica Organica Industriale Milanese (COIM) on Thursday. In a stock exchange filing, the firm stated that the proceeds from the sale would be “at least 8.5 times the adjusted EBITDA of 2.12 million pounds, as agreed upon by both parties.” Further details regarding the transaction were not disclosed.
In another development, BEML has partnered with Kineco Ltd to advance composite manufacturing specifically for defense and aerospace applications. The Memorandum of Understanding (MoU) was signed in the presence of BEML CMD Shantanu Roy and Kineco Founder and CMD Shekhar Sardessai, along with senior officials from both organizations in New Delhi.
Additionally, Tata Steel has secured a long-term agreement with Air Water India Private Limited (AWIPL) for the operation and maintenance of its Air Separation Unit (ASU) located in Jamshedpur. The facility is designed to produce 1,800 tonnes of oxygen per day, supplemented by nitrogen, argon, and dry compressed air, which will primarily be utilized in Tata Steel’s Blast Furnaces and Steel Melting Shops.
Moreover, Fitch Ratings has revised the outlook on IIFL Finance Limited’s Long-Term Issuer Default Rating (IDR) to positive from stable while affirming the IDR at ‘B+’. Fitch also confirmed the rating of IIFL’s senior secured debt at ‘B+’, assigning it a Recovery Rating of ‘RR4’. The global medium-note programme (GMTN) rating was similarly affirmed.
British aircraft manufacturer Rolls-Royce has entered into an agreement with Bharat Forge for the manufacture and supply of fan blades for its Pearl 700 and Pearl 10X engines. The agreement marks a significant step in Rolls-Royce’s commitment to developing local capabilities and partnerships.
Lemon Tree Hotels has signed a License Agreement for the Lemon Tree Resort, Saj by the Mountain in Mahabaleshwar. Managed by Carnation Hotels Private Limited, a fully owned subsidiary of Lemon Tree Hotels Ltd, the new property will feature 78 well-appointed rooms, a restaurant, a bar, a banquet hall, and recreational amenities including a swimming pool and spa.
Ventive Hospitality Ltd, through its Material Subsidiary, aims to acquire a 100% stake in a Target Entity that holds exclusive rights for Soho House expansion in India and operates Soho House Mumbai in Juhu.
JSW Energy’s subsidiary, JSW Energy (Utkal) Limited, has received a letter of award from Power Company of Karnataka Limited for a 25-year, 400 MW power supply arrangement starting April 1, 2026.
Godrej Industries has increased its investment in Godrej Capital Limited, its subsidiary, which now accounts for 91.11% of the total paid-up share capital. GCL serves as a Core Investment Company holding equity stakes in Godrej Housing Finance Limited and Godrej Finance Ltd.
Happiest Minds Technologies has reported that the National Company Law Tribunal in Bengaluru has approved a Scheme of Arrangement that merges Sri Mookambika Infosolutions Private Limited, a wholly-owned subsidiary, into Happiest Minds Technologies.
Finally, Aeroflex Industries has secured a new order worth approximately ₹7.8 crore under an existing global agreement aimed at developing advanced flow control components for high-performance thermal management systems. This order pertains to the Aeroflex Bellow Division and involves supplying liquid cooling solutions for data centers associated with a U.S.-based corporation valued at over $50 billion.
Orient Technologies Limited has announced the acquisition of Red Hut Innovation Technology Pvt. Ltd. and minority stakes in Athena IT & Telecom Solutions Pvt. Ltd. and AIT Internet Services Pvt. Ltd., for a combined value of ₹7.71 crore. This initiative highlights Orient Technologies’ goal of becoming a leader in the digital technology sector, focusing on integrated solutions across cloud, connectivity, and cybersecurity.
Published on October 17, 2025.
