Vikas Ecotech acquires Shamli Steel for Rs 1.6 bn

27 Jan 2024 CW Team

Recycling player Vikas Ecotech (VEL) announced the successful acquisition of Shamli Steel for Rs 1.6 billion. As part of this acquisition, VEL has injected an initial working capital of Rs 150 million into Shamli Steel, with plans to further invest between Rs 350-500 million over the initial 3-6 months post-assuming control of the plant, as outlined in a regulatory filing.

In a share swap deal, Vikas Ecotech has secured 100 per cent equity of Shamli Steel at an enterprise value of Rs 1600 million (Rs 160 crore).

This strategic acquisition is expected to significantly enhance the company's gross revenue by an estimated Rs 9 billion, providing Vikas Ecotech with a competitive advantage as it expands its presence in regional markets.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..