Gazeta Lodz - Market Buzz: Meesho Stake Sale, Clean Max’s ₹50,000 Crore Investment and Corporate Updates

SoftBank’s affiliate, SVF II Meerkat (DE) LLC, is preparing to sell a 1 percent stake in e-commerce company Meesho Ltd through a block deal valued at approximately ₹1,174 crore. The transaction has established a floor price of ₹246.23 per share, which represents a potential discount of up to 3.1 percent relative to the current market price.

In the energy sector, Clean Max Enviro Energy Solutions announced on Thursday that it has committed ₹50,000 crore toward the development of integrated power generation facilities in Andhra Pradesh. The company signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to facilitate this initiative. Under the agreement, Clean Max plans to develop clean energy infrastructure aggregating 3 GW across wind and solar sources, alongside 1 GW of pumped hydro facilities.

Pharmaceutical manufacturer Lupin Ltd reported that its commercial partner, Sandoz, has launched Ranluspec, a biosimilar version of Ranibizumab, across European markets excluding Germany. The launch follows the European Commission’s approval of Ranluspec in both vial and pre-filled syringe formats. Lupin stated that this development marks a significant step toward expanding access to biologic treatment options for retinal diseases.

Indian Oil Corporation supplied its first consignment of specialized Extreme Winter Grade Diesel (XWG Diesel) to Army units in the Northeast region. The fuel, capable of functioning at temperatures as low as minus 42 degrees Celsius, was flagged off from the company’s Missamari Depot on Wednesday for units under the 4 Corps of the Eastern Command. The specialized diesel is designed to ensure reliable performance in extreme cold-weather conditions, particularly in high-altitude areas.

State-owned construction firm NBCC signed six MoUs with the West Bengal government and its various authorities to undertake development projects in the state. The agreements include the development of river ghats at Howrah and Nabadwip, redevelopment of the College Street area and Chinatown at Tangra through the Kolkata Metropolitan Development Authority, and riverfront development with the Chandernagore Municipal Corporation. Agnimitra Paul, West Bengal’s Minister of Urban Development and Municipal Affairs, and NBCC CMD KP Mahadevaswamy were present for the signings.

NCL Industries’ board approved a comprehensive 130 MW renewable energy project in Tuticorin, Tamil Nadu, combining solar and wind power generation. The project will be implemented in phases, with Phase 1 covering 50 MW of the total capacity, marking the company’s entry into the clean energy sector.

In corporate finance news, Zee Entertainment Enterprises Ltd received board approval for a share buyback program. The company will repurchase up to 65.93 million equity shares at ₹91 per share, aggregating to approximately ₹600 crore. The buyback, executed through the tender offer route, represents 6.86 percent of the company’s total paid-up equity share capital.

Edelweiss Financial Services disclosed that promoter and Vice Chairman Venkatachalam Ramaswamy has resigned from the board, effective November 11, 2026. The company stated that Ramaswamy’s resignation letter, dated November 9, 2026, was officially received via email on November 11 due to technical issues that prevented the delivery of an earlier communication. Consequently, he ceased to be a director and Vice Chairman as of that date.

Jujhar Logistics announced an investment of ₹329.53 crore through its subsidiary to acquire 15 rakes of Greater Height Auto Carrier Wagons. The company placed a purchase order with Texmaco Rail & Engineering Ltd for the manufacture and supply of 434 auto car wagons of ACT 1 and ACT 3 types, aiming to boost revenue and volume.

Ola Electric Mobility reported a consolidated net loss of ₹362 crore for the July-September quarter, a narrowing from the ₹418 crore loss recorded in the same period last year. However, the company’s consolidated revenue from operations fell nearly 39 percent to ₹421 crore from ₹690 crore year-on-year. Total expenses during the quarter dropped 28 percent to ₹639 crore from ₹893 crore in the prior year period.

A.Walczak--GL