Defense

In a bulk deal on BSE, Rakesh and Rekha Jhunjhunwala each offloaded 4.5 Lac shares of Zen Technologies at R70 per share aggregating to R6.3 Cr while Zen Technologies acquired 892,405 shares at R70.

Piramal Systems and Technologies is planning to form a JV with US-based surveillance technology developer Global Technical Systems, BL states.

Pipavav Defence & Offshore Engineering Limited is planning to raise funds by offloading around 26% stake of its equity. A group of corporate majors are interested, according to BS.

Valiant Mauritius Partners FDI Limited sold part stake in Pipavav Defence and Offshore Engineering by offloading 90 lakh shares or around 1.28% stake.

Tata Sons subsidiary - Tata Advanced Systems Limited has acquired majority stake in Aurora Integrated Systems Limited.

American VC fund Artiman Ventures invested R34 Cr in Tonbo Imaging, an imaging technology company in India.

State owned Bharat Electronics Limited has entered into a JV with French defence firm Thales.

Swedish defence company Saab has signed a MOU for a strategic investment in Pipavav Defence and Offshore Engineering Company Limited.

Piramal Enterprises has acquired 27.83% stake for $7 Mn (R40 Cr) in Bluebird Aero Systems, an Israeli unmanned air systems manufacturer to foray into defense sector, according to BL.