Bajaj Holdings and Investment Acquire Sanofi India

Key Takeaways from the Acquisition

• BHIL purchased shares in Sanofi India Limited on October 11, 2024.
• BHIL, an investment company, has acquired this in line with its long-term investments through stock exchanges in the pharmaceutical sector.
• No governmental or regulatory approvals were sought for this acquisition
• As of the date of acquisition, BHIL shares cumulatively amount to 0.0304% of share ownership of Sanofi India, which entails 0.2258% ownership shares.

BHIL, being an investment company, acquired shares of Sanofi India Limited through stock exchanges. The purchase made on October 11, 2024 cost Rs. 4.85 crore, and cumulatively, the investment in Sanofi has reached Rs. 40.45 crore as of that date.

This acquisition accounts for 0.0304% as of the date of acquisition, and the cumulative holding comes at 0.2258% in Sanofi India.

Sanofi India operates in the pharmaceutical industry, where BHIL perceives value growth in its investment strategies. The acquisition was done in the ordinary course of business without any governmental or regulatory approvals.

About Bajaj Holdings & Investment Limited (BHIL)  

Bajaj Holdings & Investment Ltd. (BHIL) is an investment company registered as a Non-Banking Financial Institution – Investment and Credit Company with the Reserve Bank of India. The company holds over a 30% stake in Bajaj Auto Ltd. and Bajaj Finserv Ltd. BHIL was created through the demerger of the former Bajaj Auto Ltd., where its manufacturing operations were transferred to Bajaj Auto Limited (BAL), and its wind farm and financial services operations were transferred to Bajaj Finserv Limited (BFS). BHIL retains all other businesses, properties, assets, investments, and liabilities of the former Bajaj Auto Ltd., except for the manufacturing and strategic business undertakings.

Key Takeaways from Network18 Media & Investments Financial Performance:

• Network18 Media & Investments reported a consolidated net loss of Rs 152.31 crore for Q2 ending September 30, up from Rs 119.18 crore last year, due to investments in sports and digital assets.  
• The company's consolidated revenue from operations increased by 2.2% to Rs 1,825.18 crore, down from Rs 1,865.50 crore in the same quarter last fiscal.  
• Total expenses for the September quarter rose by 1.67% to Rs 2,243.13 crore.  
• The company announced amalgamation with TV18 Broadcast and E18.

On a positive note, the company’s consolidated revenue from operations grew by 1.6% to Rs 1,825.18 crore for the September quarter, down from Rs 1,865.50 crore in the previous fiscal’s corresponding quarter. 

Total expenses for the September quarter rose by 1.64% to Rs 2,243.13 crore. Network18's total income for the second quarter of FY2024-25 remained flat at Rs 2,059.35 crore.

Moreover, during the quarter, the NCLT approved the Composite Scheme for "amalgamation of the Company's subsidiaries, namely, TV18 Broadcast and e-Eighteen.Com (E18) into the Company with the appointed date being April 1, 2023. The Scheme has become effective on October 3, 2024," it said.

Network18 Chairman Adil Zainulbhai commenting on the merger said, "We are happy to have completed the merger of our news businesses. With a strong portfolio of TV channels and digital platforms, covering the breadth of the country and catering to its linguistic diversity, we are ideally positioned to become the most preferred news network of India".

About Network18 Media & Investments Limited:

Network18 Media & Investments Limited (Network18 Group) is one of India's most diverse media and entertainment conglomerates, with interests that span television, digital content, film production, e-commerce, print, and related sectors. TV18 Broadcast Limited, a subsidiary of Network18, manages the broadcasting division and operates the largest news network in India, covering business, general, and regional news. Key brands include CNBC-TV18, News18 India, and CNN News18, while News18 International caters to the Indian diaspora and global audiences with comprehensive news coverage.

Viacom18 Media Private Limited, another subsidiary, oversees a broad range of entertainment channels and digital platforms featuring content across various genres, including general entertainment, sports, and children’s programming. Major brands in this portfolio include Colors, MTV, and Nickelodeon, along with the OTT platform Voot, which offers exclusive on-demand content. The Group is also involved in film production and distribution through Viacom18 Motion Pictures and operates the factual entertainment channel History TV18 via its subsidiary, AETN18 Media Private Limited. Additionally, TV18 and Viacom18 jointly manage IndiaCast, which focuses on monetizing content globally, while Network18 maintains significant stakes in leading magazine brands such as Forbes India and Overdrive.

Key Takeaways from the Agreement

• JSW Energy signed an ESFA with MSEDCL for 1,500 MW / 12,000 MWh of pumped hydro energy storage.
• The deal is set for 40 years, with a fixed capacity charge of ₹84.66 lakhs per MW per year.
• JSW Energy has targeted 20 GW of generation capacity and 40 GWh of energy storage by 2030, along with a promise to reach carbon neutrality by 2050.

The company will sign 1,500 MW / 12,000 MWh of pumped hydro energy storage capacity with the Bhavali Pumped Hydro Project. Located in the Nashik and Thane districts of Maharashtra.

This project will provide energy storage capacity for 40 years, for a discharge duration of 8 hours, and for this, JSW Energy will be getting a fixed capacity charge of ₹84.66 lakhs per MW every year. The facility is expected to come onstream in the next 48 months.

JSW Energy's locked-in energy storage capacity stands at 16.2 GWh, of which 14.4 GWh are sourced from pumped hydro storage and 1.8 GWh from battery energy storage. The company has a total locked-in generation capacity of 18.2 GW and is looking to get 20 GW in generation capacity and 40 GWh of energy storage capacity in the books by 2030. JSW Energy has also committed carbon neutrality by 2050.

Commenting on the agreement, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said, “We are thrilled to sign our first energy storage facility agreement for a pumped hydro storage plant, marking a significant milestone in our journey towards becoming energy products and services company. By integrating advanced energy storage solutions, this project will not only enhance grid stability but also reinforce our commitment to provide sustainable and reliable power. Additionally, it will contribute to local area development by generating employment opportunities and fostering community resilience.”

About JSW Energy Limited  

JSW Energy Ltd., which forms part of the USD 24 billion JSW Group, is one of the leading private sector power producers in India. The company belongs to the whole value chain of the power sector with a diversified portfolio in power generation as well as transmission. A 260 MW thermal power plant at Vijayanagar in Karnataka was the starting point for JSW Energy in the year 2000, from which it has expanded into the power generation business to an extent of 7,726 MW through 3,508 MW from its thermal sources, 2,152 MW from wind, 1,391 MW from hydel, and 675 MW from solar energy. Focused on sustainable growth, robust corporate governance, and strategic capital allocation, the company expands capacity with the building of 2.1 GW more power projects towards its target of 20 GW by the year 2030.

Key Takeaways from the Acquisition

• Adani Ports has acquired 95% of Gopalpur Port Limited.
• For Adani, this acquisition constitutes a further step in expanding its logistics capacity at India's ports.
• So far, the company has been actively acquiring ports and upgrading infrastructure; stakes in both Dhamra Port and Mundra Port had already been acquired.
• Through the acquisition in GPL, Adani Ports hopes to gain operational capabilities to advance its service offerings and support regional economic development.

The completion of this acquisition follows a previous announcement made on March 26, 2024, and reinforces Adani's commitment to developing port infrastructure across the country. With this strategic move, Adani Ports aims to leverage GPL’s operational capabilities to bolster its position in the eastern region of India.

In recent years, Adani Ports has been on an aggressive expansion spree, acquiring several ports to strengthen its logistics network. The company has invested significantly in enhancing port capacities and improving operational efficiencies. Notably, Adani Ports acquired a majority stake in Dhamra Port in Odisha and has been involved in the development of Mundra Port, which is now one of the largest commercial ports in India. These acquisitions are part of Adani's broader vision to create a robust logistics ecosystem that supports India's growing trade needs.

Acquiring the Gopalpur Port will allow Adani Ports to provide better services with more efficient operations to foster the economy of the region. The Company remains committed to adopting integrated advanced technologies and sustainable practices within its operations to deliver on the evolving needs in the logistics sector

About Adani Ports and Special Economic Zone Limited (APSEZ) 

Adani Ports and Special Economic Zone Limited (APSEZ) is India's largest commercial port operator, responsible for nearly 25% of the nation's cargo movement. With operations across 13 domestic ports in seven maritime states—Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha—APSEZ has the most extensive national footprint and strong hinterland connectivity. The ports are equipped with state-of-the-art cargo-handling infrastructure, capable of managing diverse cargo types including dry, liquid, crude, and containers, as well as accommodating the largest vessels at Indian shores.