Great Eastern Shipping Delivers Suezmax Tanker Jag Lalit

Key Takeaways from Great Eastern Delivery:

• G E Shipping has delivered its 2005-built Suezmax Crude Tanker, Jag Lalit, to its buyers as part of a sale contract signed in September 2024.  
• Following the delivery, the company’s fleet now includes 40 vessels, comprising 27 tankers and 13 dry bulk carriers, totalling 3.15 million dwt.  
• The fleet of tankers consists of 5 crude carriers, 18 product carriers, and 4 LPG carriers.  
• G E Shipping has also contracted the sale of an MR product tanker in October 2024, expected to be delivered by H2 FY25.

The vessel was sold under a contract signed in September 2024. With the delivery of Jag Lalit, the company’s current fleet now consists of 40 vessels. This includes 27 tankers (comprising 5 crude carriers, 18 product carriers, and 4 LPG carriers) and 13 dry bulk carriers (2 Capesize, 8 Kamsarmax, and 3 Supramax vessels), totalling 3.15 million deadweight tonnes (dwt).

In addition, G E Shipping has agreed to sell another MR product tanker, contracted in October 2024, which is expected to be delivered in the second half of the financial year 2025.

Great Eastern Shipping Limited

Founded in 1948 by the visionary Mulji (Sheth) brothers and the Bhiwandiwalla family, Great Eastern Shipping Company Limited (G E Shipping) began its journey with the acquisition of the SS *Fort Elice*, a mothballed Liberty ship. With entrepreneurial leadership from Vasant J. Sheth, the company quickly expanded from sea-logistics support to tramp shipping and offshore oil field services, setting new industry standards. Over the years, G E Shipping has diversified and adapted, consistently leading the way in the shipping and offshore sectors. Today, the company’s legacy of innovation and resilience continues to shape its future success.

Key Takeaways from the Joint Venture

• Reliance Industries and Disney have signed a joint venture; the two firms have merged their major entertainment and sports assets to solidify a greater hold in India's media arena.
• RIL, through its wholly-owned subsidiary RISE, has divested 65% equity stake in Football Sports Development Limited to Viacom18 for ₹94.54 crore, while FSDL continues to be an operational entity controlled by RIL
• RIL raised its stake in Viacom18 to 70.49% by purchasing Paramount Global's 13.01% equity for ₹4,286 crore.

As part of the venture, RIL and its subsidiary, RISE Worldwide Limited, sold their 65% equity stake in Football Sports Development Limited (FSDL) to Viacom18 Media Private Limited, a material subsidiary of Network18 Media & Investments Limited, for ₹94.54 crore. This investment was subsequently transferred to Star India Private Limited (SIPL) through a prearranged scheme, allowing FSDL to remain under RIL’s control.

The company also acquired 63.16% of holding in Star Television Productions Limited, an existing Disney shareholder, for ₹ 211.59 crores. Intellectual property rights in trademarks "STAR" and "HOTSTAR" are held by STPL. The subsequent process of amalgamation is likely to merge STPL with SIPL. Subsequently, the shares of SIPL will be taken over by RIL as consideration for this amalgamation, which again will further consolidate the brand assets held by the former.

In a separate transaction, RIL acquired Paramount Global’s 13.01% stake in Viacom18 for ₹4,286 crore, raising its ownership in the media company to 70.49% on a fully diluted basis. Moreover, RIL made a substantial investment of ₹11,500 crore in SIPL, receiving 26.05 crore equity shares in return. Following this, SIPL issued 74.61 crore additional shares to Viacom18 under a composite scheme, finalising SIPL’s control structure.

The joint venture’s new ownership distribution stands with Reliance holding 16.34%, Viacom18 at 46.82%, and Disney owning 36.84% in SIPL. This partnership represents a major strategic move, strengthening Reliance’s position across sports, entertainment, and digital media in India.

About Reliance Industries Limited

Reliance Industries Limited is a multinational conglomerate based in Mumbai, India. This is one of the biggest companies in India, dealing with operations of all kinds. Reliance firms have dominated all the sectors linked to the energy line, more especially in refining, petrochemicals, exploration and production, and renewable energy. Retail is another sector that has been advanced by Reliance, providing consumer electronics, apparel, groceries and e-commerce services. Some ventures by Reliance include telecommunications, 4G and 5G wireless services, and financial services. Reliance was also known to publicise its pioneering business practices and contributions toward India's economic development. The company is a market leader in many lines of business. It follows the path of ensuring that its operations promote sustainable development and social responsibility in the communities that it operates in.

Key Takeaways from the Acquisition

• Tata Power acquired 100% of ERES-XXXIX for ₹18.56 crore in cash, with full ownership transferring on November 14, 2024.
• The SPV will establish a 765 KV transmission line and GIS substations from Angul to Gopalpur in Odisha, aiming for completion by December 31, 2027.
• The Ministry of Power has granted all necessary approvals, facilitating seamless integration of the SPV into Tata Power’s operations.

The acquisition, finalised through a Share Purchase Agreement (SPA) for ₹18.56 crore, reinforces Tata Power’s commitment to expanding its transmission capabilities, especially in the state of Odisha.

On 27 March, 2024, ERES-XXXIX was incorporated for laying a complete transmission line in Odisha, from Angul to Gopalpur, covering nearly 190 kilometers. A double-circuit 765 KV line, GIS substation at Gopalpur, and associated infrastructure are included in it. The commercial operation of ERES-XXXIX is expected on December 31, 2027. This speaks volumes of Tata Power's commitment to enhancing grid connectivity and reliability in the region.

About Tata Power Company Limited

Tata Power Company Ltd is India's largest vertically integrated power company focused on electricity generation, transmission, and distribution. It is committed to renewable energy and seeks to continue its pursuit of producing 100% clean electricity. Its total energy capacity is now at 14,381 MW comprising 3,191 MW of solar, 1,007 MW of wind, and 880 MW of hydro; renewable capacity under construction amounts to 3,760 MW. The company operates more than 4,900 public EV charging points across 442 cities and will look to touch 1 lakh EV charging stations by 2025. Tata Power also has a significant presence in solar EPC projects with an order book running into over ₹18,700 crore.

Key takeaways from the Announcement

• Granules India Limited was awarded the prestigious Golden Peacock Award for Sustainability on November 14, 2024, at the Institute of Directors’ Annual Global Convention on Corporate Governance & Sustainability in London.
• The award was given after a competitive selection process that included 499 applicants and a rigorous three-tier assessment, positioning Granules as a leader in sustainable practices within the pharmaceutical industry.
• The accolade was presented by a jury comprising former Chief Justices of India, the Vice-Chair of the GHG Protocol, and other prominent leaders in governance, law, and sustainability.

The assessment is carried out based on a three-layered assessment of 499 applicants, and hence the sustainable practices adopted by Granules make it a leader among many others in India. "Surely, it is an honor to receive this recognition from such an esteemed jury comprising former Chief Justices of India, the Vice-Chair of GHG Protocol, and a few other top leaders in governance, law, and sustainability.".

This approval cements the commitment of Granules India towards its mission statement "Healing lives responsibly through pioneering green science." Granules India has targeted net-zero emissions by 2050 and is repositioning itself under the Science Based Targets initiative (SBTi) and United Nations Sustainable Development Goals (SDGs). Scope 1, 2, and 3 emissions reduction, additional renewable energy, and waste reduced to almost zero. They are led by a strict governance structure, headed by a very experienced Board of Directors to ensure the best-in-class ethical conducts and transparent mode of all its operations.

Dr. Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India Limited, expressed pride in receiving the award: “Receiving the Golden Peacock Award for Sustainability is a proud moment for all of us at Granules. It reflects our commitment to embedding sustainability at the heart of our operations. As we strive to achieve Net Zero by 2050, our focus remains on pioneering green science and reducing our environmental impact in ways that benefit both our business and society. This recognition reaffirms our commitment to ethical governance and to advancing a responsible, sustainable future.”

Granules India continues to lead by example in driving impactful sustainability practices that support its mission of “Healing lives responsibly through pioneering green science.”

About Granules India Limited

Incorporated in 1991, Granules India Limited is a fast-growing vertically integrated pharmaceutical company headquartered in Hyderabad. The company is committed to operational excellence, quality, and customer service. Granules is among the few pharmaceutical companies globally that operates across the entire pharmaceutical value chain—from Active Pharmaceutical Ingredients (APIs) to Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs). With a global presence extending to over 80 countries and distribution to more than 300 customers in regulated and semi-regulated markets, Granules operates 10 manufacturing facilities—8 in India and 2 in the USA—holding regulatory approvals from various international health authorities including US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC, and HALAL.