Category: Corporate Announcements

Oil India Limited has announced the discovery of natural gas in its exploratory well Vijayapuram-2, located in the Andaman Offshore Block. Preliminary analysis confirms the presence of natural gas, and further studies are underway to understand its genesis. This find marks the first reported occurrence of hydrocarbons in the ongoing exploration campaign and could significantly influence future exploration strategies.

Natural Gas Occurrence

Oil India Limited (OIL) reports a new occurrence of natural gas within the Andaman Shallow Offshore Block AN-OSHP-2018/1, specifically at exploratory well Vijayapuram-2 (Loc. OAEA). The discovery, confirmed on September 26, 2025, marks a significant milestone for the company’s exploration efforts. This block was drilled under the Open Acreage Licensing Policy (OALP).

Preliminary Analysis & Next Steps

Initial analysis of collected gas samples confirms the presence of Natural Gas. To further evaluate the discovery, gas isotope studies are currently being conducted. These studies aim to understand the origin and characteristics of the gas, with the potential to inform future exploration and drilling strategies within the region.

Implications for Exploration

The discovery is a promising indicator of potential hydrocarbon accumulation in the area. According to preliminary assessments, it could be an early indicator of source presence and/or migration pathway of hydrocarbon. The company will conduct additional testing to evaluate other higher-up prospects to thoroughly assess the overall potential and viability. This initial discovery is the first of its kind during the current exploration in the Andaman Shallow Offshore Block.

Source: BSE

Brigade Enterprises has entered into a sale deed for the sale of an undivided proportionate share of land. The land measures 6,534 square yards (5463.26 square meters or 1.35 acres) and is situated in Kokapet village, Telangana. The transaction is valued at ₹110.14 Crores and involves Brigade Hotel Ventures Limited, a subsidiary of the company. The deal was finalized on September 26, 2025.

Land Sale Details

Brigade Enterprises announced on September 26, 2025, that it has entered into a sale deed for the sale of an undivided proportionate share of land. The property is located in Plot No. 8, Survey Nos. 239 and 240, NEOPOLIS LAYOUT-II, Kokapet village, Gandipet mandal, Ranga Reddy District, Telangana.

Financial Implications

The land measures 6,534 square yards (5463.26 square meters equivalent to 1.35 acres) and the transaction is valued at ₹110.14 Crores. The sale involves Brigade Hotel Ventures Limited, which is a subsidiary of Brigade Enterprises. This sale was part of the objectives outlined in the Initial Public Offering (IPO) of Brigade Hotel Ventures Limited.

Source: BSE

Tata Motors has received approval from the National Company Law Tribunal (NCLT) for its composite scheme of arrangement, involving the demerger of its commercial vehicles and passenger vehicles businesses. The scheme will be effective from October 1, 2025. Shareholders will receive 1 equity share in TML Commercial Vehicles Limited for every 1 share held in Tata Motors. Certain Non-Convertible Debentures will also be transferred.

NCLT Approves Tata Motors Demerger

The Hon’ble National Company Law Tribunal, Mumbai Bench, has sanctioned the composite scheme of arrangement amongst Tata Motors Limited, TML Commercial Vehicles Limited, Tata Motors Passenger Vehicles Limited, and their respective shareholders. This significant milestone was announced on September 26, 2025.

Demerger Effective Date

The Boards of the respective companies have resolved to make the scheme effective on October 1, 2025. The company will separately notify the effective date of the scheme and the record date for determining shareholders eligible to receive shares in TML Commercial Vehicles Limited (TMLCV).

Share Allotment Details

Shareholders of Tata Motors will receive 1 fully paid equity share in TMLCV (face value of ₹2) for every 1 fully paid equity share held in Tata Motors.

NCD Transfer

Certain Non-Convertible Debentures (NCDs) will be transferred to TMLCV. The record date for this purpose will be fixed and communicated to the exchanges upon the scheme becoming effective.

Details of NCDs to be Transferred to TML Commercial Vehicles Limited

The NCDs to be transferred as part of the scheme are as follows:

• INE155A08423 [E-30A]: ₹500 crore, Redemption Date: May 29, 2026
• INE155A08407 [E-28B – (Tranche I)]: ₹250 crore, Redemption Date: December 30, 2026
• INE155A08415 [E-28B (Tranche II)]: ₹250 crore, Redemption Date: January 29, 2027
• INE155A08449 [E-31A (Tranche I)]: ₹500 crore, Redemption Date: March 26, 2027
• INE155A08464 [E-31A (Tranche III)]: ₹800 crore, Redemption Date: March 27, 2028

The total value of NCDs to be transferred is ₹2,300 crore.

Source: BSE

Brigade Enterprises has acquired 100% stake in AMG Info Park Private Limited, making it a wholly-owned subsidiary effective September 26, 2025. This acquisition aims to support Brigade’s real estate development objectives. AMG Info Park, incorporated in 2010, is currently in the pre-operational stage with no revenue generation. The acquisition cost Brigade Enterprises ₹13,44,25,690.

Acquisition Overview

Brigade Enterprises has completed the acquisition of 100% equity in AMG Info Park Private Limited on September 26, 2025. With this acquisition, AMG Info Park Private Limited becomes a wholly-owned subsidiary of Brigade Enterprises.

Strategic Rationale

The acquisition of AMG Info Park aligns with Brigade Enterprises’ strategic objectives to further its real estate development initiatives.

Target Company Details

AMG Info Park Private Limited was incorporated on June 22, 2010, with the primary objective of engaging in real estate development activities.

The company’s authorized share capital is ₹1,00,000, with a paid-up share capital also of ₹1,00,000. As of March 31, 2025, AMG Info Park reported no turnover as it is currently in the pre-operational phase.

Financial Details

The acquisition cost Brigade Enterprises ₹13,44,25,690, which translates to a price of ₹13,442.569 per equity share.

Source: BSE

Canara Bank confirms the successful payment of annual interest and redemption for its BASEL III compliant Tier II bonds (ISIN: INE667A08039). The interest, at a coupon rate of 8.58%, was due on September 28, 2025, but was paid on September 26, 2025, due to the original date being a holiday. The total payout amounted to Rs. 10,84,86,00,000.

Interest & Redemption Payment Update

Canara Bank has announced the successful completion of the annual interest and redemption payment for its Unsecured Redeemable Non-Convertible Fully Paid Up BASEL III Compliant Tier II Bonds. The announcement, dated September 26, 2025, confirms adherence to SEBI Listing Regulations.

Key Details of the Payment

The key details related to the interest and redemption payment are as follows:

• ISIN: INE667A08039
• Issue Size: Rs 1000,00,00,000
• Interest Amount Paid: Rs 84,86,00,000
• Interest Payment Date: September 26, 2025
• Redemption Date: September 26, 2025
• Amount Redeemed: Rs 1000,00,00,000

Additional Information

The interest payment and redemption were processed via RTGS/NEFT/IBA/DD mode, as per the terms of the bond issue. The actual payment date was brought forward to September 26, 2025, as September 28, 2025, was a public holiday.

Source: BSE

Torrent Pharmaceuticals has fully redeemed and repaid its Commercial Papers (CPs) worth ₹300 crores. The redemption occurred on the maturity date, September 26, 2025. The CPs, issued under ISIN: INE685A14153, have been successfully cleared, marking a significant financial transaction for the company.

Commercial Papers Redeemed

Torrent Pharmaceuticals has announced the complete redemption of its Commercial Papers (CPs) valued at ₹300 crores (Rupees Three Hundred Crores). The company confirmed that these CPs, issued under ISIN: INE685A14153, have been fully redeemed and repaid as of their maturity date.

Redemption Details

The redemption was completed on September 26, 2025, signifying the fulfillment of the company’s obligations regarding these financial instruments. This action reflects the company’s sound financial management and commitment to meeting its financial responsibilities.

Source: BSE

Carborundum Universal Limited announced that Mr. Sushil Kishor Bendale has stepped down from his position as Chief Financial Officer (CFO) of the company. The resignation is effective as of the closing hours of September 26, 2025. This information follows an earlier intimation made on August 7, 2025.

CFO Resignation

Mr. Sushil Kishor Bendale has stepped down from his role as Chief Financial Officer (CFO) at Carborundum Universal Limited, effective at the close of business today, September 26, 2025.

Details of the Announcement

This announcement follows a preliminary notification issued on August 7, 2025. The company formally acknowledges the departure of Mr. Bendale from his position as CFO and Key Managerial Personnel (KMP).

Source: BSE

CARE Ratings has reaffirmed the credit ratings for KEI Industries’ long-term bank facilities at CARE AA+; Stable and short-term bank facilities/commercial paper at CARE A1+. The rating for fixed deposits has been withdrawn as per the company’s request. The reaffirmed ratings indicate a high degree of safety regarding the timely servicing of financial obligations.

Credit Ratings Reaffirmed

CARE Ratings Limited has reaffirmed the ratings for KEI Industries’ financial instruments. The long-term bank facilities maintain a rating of CARE AA+; Stable (Double A Plus; Outlook: Stable). Short-term bank facilities and commercial paper are rated CARE A1+ (A One Plus).

Fixed Deposit Rating Withdrawn

The rating for KEI Industries’ fixed deposit program has been withdrawn at the company’s request. As of the reporting date, no fixed deposits were raised or are repayable by the company, with no outstanding amounts payable.

Rating Definitions

Instruments with a CARE AA+ rating are considered to have a high degree of safety for timely financial obligations, carrying very low credit risk. Instruments with a CARE A1+ rating have a very strong degree of safety for timely payments, carrying the lowest credit risk.

Detailed Bank Facility Ratings

The long-term facilities amount to Rs.1,200.00 crore, with lenders including Union Bank of India, Axis Bank Ltd, and proposed facilities. Fund-based limits also amount to Rs. 600.00 crore, involving banks such as Bank of Baroda, State Bank of India, and Punjab National Bank.

Short-Term Facilities

Short term facilities total Rs. 2,650.00 crore. Lenders include Bank of Baroda (Rs 430.00 crore), Axis Bank Ltd (Rs 338.00 crore), and State Bank of India (Rs 325.00 crore).

Commercial Paper

The commercial paper issue is rated CARE A1+, with a total amount of Rs. 30.00 crore. This is carved out from the company’s sanctioned working capital limits.

Source: BSE