Inox Leasing and Finance Limited, an entity forming part of the Promoter Group will be allotted shares worth Rs150 crore.
The company plans to launch six projects during the FY 2023 & FY 2024 itself, which has a revenue potential of ~Rs4,000 crore.
MWCDL would exercise appropriate legal remedies and contest the demand at the appropriate judicial forums.
With the help of this strategic partnership, BEL aims to bring turbulent technology to significantly impact infrastructure operations in terms of efficiencies in operations, smarter solutions, and cost savings.
Electric three-wheelers are leading the transition to EVs in India, as the segment recorded over 14% share in the overall three-wheelers sales in FY21.
As the project is terminated midway, financial impact is yet to be ascertained, informed company.
Cement prices have increased by around 4-5% Y-o-Y in FY22, driven by the price hikes taken by the cement companies and to pass on the rising input cost, primarily power and fuel expenses and freight expenses.
The sales consideration for this transaction is approximately Rs184 crore.
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