Smart energy meter manufacturer Allied Engineering Works has filed preliminary papers with the markets regulator Sebi to garner funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, according to the draft … Read more
The Securities and Exchange Board of India (SEBI) has introduced a framework for a new type of investment product known as the Specialized Investment Fund (SIF). This category is intended to serve as a middle ground between Mutual Funds (MFs) and Portfolio Management Services (PMS). The new framework is scheduled to be implemented from April … Read more
YSRCP East Godavari District president and former minister for Backward Classes Welfare Ch. Venu Gopala Krishna on Monday (February 17) blamed Chief Minister N. Chandrababu Naidu for his silence on the distribution of joint assets located in Hyderabad in Telangana State, causing an estimated loss of ₹1.10 lakh crore to Andhra Pradesh State after the … Read more
Jan 20 Sebi has returned the draft IPO documents of Anand Rathi Group’s brokerage arm Anand Rathi Share and Stock Brokers, which proposed to raise Rs 745 crore through an initial share-sale, an update with the regulator showed on Monday. Anand Rathi had filed the papers for issuing fresh equity. The offer also included reservations … Read more
Uttar Pradesh is looking to privatise two of its four power distribution companies, a State government tender showed, as the country’s most populous state grapples with power losses and a lack of sufficient transmission infrastructure. The State is inviting private companies to form partnerships with or privatise state-owned Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut … Read more
Torrent Power on Monday announced opening of its qualified institutional placement (QIP) issue and the company has set the floor price at Rs 1555.75 per equity share. The issue price will be determined by the company in consultation with the book running lead managers (BRLMs) at a later date. The company with its discretion offers … Read more
India’s Adani Energy Solutions raised $1 billion through a share sale, which got bids from U.S. investors and sovereign wealth funds, the power distribution company said on Monday. The qualified institutional placement (QIP) was the Adani Group’s first fundraising from equity markets after a $2.5 billion share sale was scrapped in February last year. The … Read more
Angshu Mallick, MD & CEO, Adani Wilmar, says going forward, as the new mustard season has just started, the new meal, oil meal, rapeseed oil meal will be available now for exports. So, the Q1 of FY25 should be better. Overall, the edible oil has been growing. This year has grown at 10%, which is … Read more
Sanjiv Puri, CMD, ITC, says the Indian economy and even rural India has been very resilient. The infrastructure that has been created, the connectivity, focus on housing and digitisation, the direct benefit transfer and stuff like free food grain distribution are some of the very important steps taken in terms of the investment in the … Read more
The Animal Husbandry Department on Wednesday launched the distribution of financial assistance to dairy farmers who had lost cattle to the lumpy skin disease. Inaugurating the State-level distribution, Minister for Animal Husbandry J. Chinchurani assured the government’s full support to the farmers. Financial assistance was provided to 146 farmers on Wednesday. The distribution will be … Read more