Holika Dahan 2024: Do's and Don'ts to observe tradition with reverence, responsiblity
Holika Dahan 2024 is observed on the eve of Holi, symbolizing the victory of good over evil. People gather around bonfires to offer prayers and seek blessings, celebrating with rituals and devotional songs. Key Points
mintBathinda NFL gets new head
Tarun Kumar Batra, Chief General Manager, has taken over as head of National Fertilizers Limited (NFL), Bathinda. Batra has a rich experience of... Key Points
The Tribune IndiaBurmans write to RBI, asks Central Bank to intervene on open offer as Religare takeover tussle intensifies
REL led by chairperson Rashmi Saluja has sought to obstruct the applications that need to be sent to the regulators for changes in shareholding, control and management of REL, said the letter by the Burmans, promoters of the Dabur Group. The action by the REL management “impedes the ability of regulatory authorities to perform their obligations,” the Burmans said in the letter, a copy of which ET has seen. “It also costs the public shareholders of Religare.” Key Points
Economic TimesIRCON's offer for sale to open for non-retail investors on Thursday
New Delhi [India], December 6 (ANI): The offer for sale (OFS) in IRCON will open on Thursday for non-retail investors, the Department of Divestment said in an X post. Ircon International, or Indian Railway Construction International Limited, is an Indian engineering & construction corporation, specialized in transport infrastructure. The public sector undertaking was established in […] Key Points
ThePrintDOMS Industries buzzing in grey market ahead of IPO; GMP doubles in just 2 days
The price band for the Rs 1,200-crore offer has not been announced yet. Despite this, the company's shares are trading with a premium of Rs 330 in the grey market. The GMP has more than doubled in the last two days, indicating strong investor interest in the public offer. Key Points
Economic Times
Protean eGov Technologies IPO to open on November 6, sets Rs 752-792 price band
Protean eGov Technologies IPO is completely an offer for sale of 61.9 lakh shares. Under the OFS, 360 One Special Opportunities Fund, NSE Investments, HDFC Bank, Axis Bank, Deutsche Bank among others will offload partial stakes. The OFS size has been reduced from 1.28 crore shares planned earlier. Key Points
Economic TimesAeroflex Industries IPO opens. Should you subscribe to the issue?
Aeroflex Industries is a market leader in the field of metallic flexible flow solutions, offering a comprehensive range of products including corrugated stainless steel hoses and interlock flexible metal hoses. The company has grown at more than 37% revenue CAGR in the last three years, operating at more than 4.85 times asset turnover, over 20% EBITA margins and generating approximately 32% ROCE. Key Points
Economic TimesBain Capital raises SoftwareOne takeover offer to $3.7 billion, Bloomberg reports
Bain Capital has increased its offer for SoftwareOne Holding AG to about 3.2 billion Swiss francs ($3.72 billion), Bloomberg News reported on Thursday, citing people with knowledge of the matter. Key Points
ReutersNetweb Technologies IPO: Issue subscribed over 27 times on day 3 so far; check details
Netweb Technologies IPO subscribed 27.36 times on Day 3 so far. Retail investors subscribed 14.50 times, employees 36.27 times, NIIs 53.84 times, and QIBs 30.10 times. Key Points
mintVaranasi tattoo shop giving away 1 kg tomatoes for free. Here's the deal
As the tomato prices in India are skyrocketing, a tattoo shop owner in Varanasi is giving away one kilogram of tomatoes to customers who get tattoos done at his shop. The unique offer has attracted significant attention from Varanasi residents. Key Points
India Today
ideaForge IPO price band announced, issue opens on 26 June; check size, listing date, other details
ideaForge’s initial public offer will open for subscription on Monday, June 26 and close on Thursday June 29. The stock is expected to list on NSE and BSE on Friday July 7. Key Points
FinancialexpressDelhi woman loses around Rs 1 lakh after ordering food online, here is what happened
The woman revealed that her relative had informed her about a buy-one-get-one thali offer on Facebook. However, as soon as she tried to claim the offer, she received multiple messages regarding unauthorised transactions made through her credit card. Key Points
India TodayAmazon offering huge discounts on 5G phones: check deals on OnePlus, iQOO and other phones
Amazon is back with yet another deal on smartphones. This time the e-commerce giant is offering host of deals on 5G phones. Key Points
India TodayFraud Alert! ‘Buy one thali, get one free’ offer can be a trap. Read here
Cyber frauds: The victim visited the site on November 27, 2022, and made a call on the given number to make an inquiry about the deal. However, she did not get any response but received a callback. Key Points
mintTCNS acquisition completes apparel portfolio for Aditya Birla Fashion: Ashish Dikshit
Aditya Birla Fashion and Retail has acquired ethnic wear retailer TCNS Clothing in a cash and share swap deal for a total cash consideration of ₹1,650 crore. TCNS will be merged into ABFRL in a share swap deal, with shareholders of TCNS receiving 11 shares of ABFRL for every six shares held. The acquisition gives ABFRL entry into the women’s premium ethnic wear segment and supplements its own ethnic women’s wear collection, providing access to premium brands such as W, Aurelia, Wishful and Eleven. TCNS reported a revenue of ₹896 crore for the year ending March 31, 2022. Key Points
The Hindu
Air India makes voluntary retirement offer to staff a second time
There has been a request from employees for extending the additional benefit of voluntary retirement to other permanent employees as well. In response to this, Air India is announcing the second phase of the voluntary retirement offer, the airline's Chief Human Resources Suresh Dutt Tripathi said in the communication sent out to the staff on Friday. Key Points
Economic TimesDivgi TorqTransfer lists at 5.1% premium
The ₹412-crore IPO comprised a fresh share issue of ₹180 crore and an offer for sale of 3.93 million shares by existing shareholders. As part of the offer for sale, Nilekani's family trust offloaded 1.44 million shares. Key Points
Economic TimesCandidates waiting to join Wipro offered lower salary than original offer
Those who accept the offer of ₹3.5 lakh PA over the original ₹6.5 lakh PA offer will be onboarded in March, an email from the company read. Key Points
Hindustan TimesIPO calendar: Rashi Peripherals, Park Hotels among 5 issues to raise about Rs 2,700 cr next week
Four mainboard IPOs along with one SME issue are set to be launched next week to raise as much as Rs 2,700 crore via the primary market. The mainboard offers include Park Hotels, Jana SFB, Capital SFB, and Rashi Peripherals. The lone SME issue is Alex Solar. Additionally, 25 draft offer documents are under process with Sebi, with 30 companies already receiving a green signal to raise over Rs 30,000 crore. The IPOs of Park Hotels, Rashi Peripherals, Capital SFB, and Jana SFB will open for public subscription from February 5-7, February 7, February 7, and February 7 respectively. Key Points
Economic Times2024 Apple Watch said to offer Blood Pressure monitoring and other features
Apple is reportedly planning to offer a Blood Pressure (BP) monitoring option to users with its Apple Watch in 2024, according to a report by Bloomberg. So far, some watches have offered support for BP, but the readings were not accurate and such devices are also not medically certified to offer the same information. Here are the details. Key Points
India Today
Rekha Jhunjhunwala-backed Baazar Style Retails files DRHP with SEBI to raise funds via IPO
The Baazar Style Retails IPO, with a face value of ₹5 each, comprises a combination of a fresh issue amounting to up to ₹185 crore and an offer for sale of up to 16.88 million shares by the promoter group and other selling shareholders. Key Points
mintBoard versus Burmans: Where is Religare's tussle with its biggest shareholder headed?
The board has no shareholder representation. It has six members including Chairperson Rashmi Saluja who has an executive role. All the other members are retired civil servants except Hamid Ahmed, who is the CEO of Hamdard Laboratories and chancellor of Jamia Hamdard University. Key Points
Economic TimesGovt to sell up to 7% stake in HUDCO via OFS; floor price fixed at Rs 79/share
The offer price is at a 12% discount to the current market price. Under the OFS, the government will offload 7 crore equity shares, representing about 3.5% of equity with an oversubscription option of another 3.5%. Key Points
Economic TimesUtkarsh IPO: Issue subscribed over 10 times on day 2 so far; retail investors steal the show
Utkarsh Small Finance Bank's IPO has been subscribed 10.67 so far times on Day 2, with strong response from retail and non institutional investors. Key Points
mintEarn a full-time job offer from your internship by following these tricks
Summer internships offer the opportunity to gain work experience and build professional relationships. Studies show that 70% of companies offer full-time job proposals to their interns. To increase your chances of securing a permanent role, understand the company and its business, express enthusiasm and take initiative, ask questions and stay curious, follow workplace etiquette, and focus on networking. Working hard and consistently, embracing professionalism, and clearly expressing ideas are also important to impress employers. Key Points
Economic Times
NCLT allows rebids in Rolta, opens door for Patanjali
Patanjali had pleaded with the NCLT to consider its offer late last month. Rolta is a defence focussed software company which was admitted to the bankruptcy process in January 2023. It owes a consortium of banks led by Union Bank of India (UBI) Rs 7100 crore and another Rs 6699 crore to unsecured foreign bond holders led by Citigroup, with total debt of close Rs 14,000 crore. Key Points
Economic TimesHappy Forgings, RBZ Jewellers and Credo Brands IPOs to open on Tuesday. What GMP indicates ahead of subscr
Ahead of the IPO opening, Happy Forgings is trading at a premium of Rs 440 in the unlisted market as against an issue price of Rs 850. Credo Brands is commanding a premium of Rs 125, compared with an upper price band of Rs 280. Key Points
Economic TimesiPhone 12 gets a huge price cut on Flipkart: Should you consider buying it?
Flipkart is offering a significant discount on the blue-colored iPhone 12 with 128 GB storage. It is now available for Rs. 46,999, down from the original price of Rs. 54,900. Additional bank offers and an exchange deal are available to reduce the price even further. Key Points
mintBlue Jet Healthcare IPO opens on Wednesday. What GMP signals
At the upper end of the price band, the company plans to raise about Rs 840 crore. Investors can bid for a minimum of 43 equity shares and in multiples thereafter. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. Key Points
Economic TimesHDFC looks at promoter offer for two Radisson Blu hotels
The total outstanding loan for the hotel properties amounts to ₹507 crore. The portfolio consists of loans provided to KAD Housing and KAJ Infrastructure, both entities promoted by DP Jain and his family that operate two five-star hotels in Ghaziabad, namely Radisson Blu Kaushambi and Radisson Blu Hotel, as reported by ET on June 23. Key Points
Economic Times
Woman loses Rs 1.94 lakh in scam after clicking on Instagram link offering job in Amazon
A young woman from Udupi, Karnataka, was scammed out of Rs 1.94 lakh after clicking on a misleading Instagram job offer link. Key Points
India TodayGopal Snacks IPO price band fixed at Rs 381-401/share; issue to open on March 6
Gopal Snacks IPO is an offer for sale worth Rs 650 crore. The snackmaker looks to sell shares in the range of Rs 381-401 per share. The public offer will open next week on March 6 and run till March 11. Key Points
Economic TimesCello World IPO subscribed 37% on Day 1. Check GMP and other details
The company has fixed a price band of Rs 617-648 per share for its offer. Investors can bid for a minimum of 23 shares in one lot and in multiples thereafter. Key Points
Economic TimesAmazon Great Freedom Festival Sale 2023: Best deals on smartphones under ₹20,000
Amazon Great Freedom Festival Sale starts today at 12 PM IST for Prime members. Some of the best smartphone deals include OnePlus Nord CE 3 Lite 5G, Samsung Galaxy M34 5G, realme narzo 60 5G, Oppo A78 5G, and iQOO Z7s 5G. Key Points
mintHMA Agro Industries IPO: 10 things to know about the public offer
HMA Agro Industries, a leading exporter of frozen buffalo meat in India, is set to launch its Rs 480 crore ($72m) initial share sale which opens on 20 June and closes on 23 June. The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale of Rs 330 crore by promoters and selling shareholders. The price band for the public offer has been set at Rs 555-585 per equity share, the upper end of which values the company at Rs 2,929 crore. Key Points
Economic Times
Vedant Fashions promoter to sell up to 9.88% stake via OFS
The promoter of Vedant Fashions, Ravi Modi Family Trust, plans to sell 7% stake in the company through an OFS. The offer is being proposed with an option to sell an additional 2.88% stake in the event of oversubscription. The floor price is fixed at Rs 1,161 per share, which is nearly 7% discount to the last closed price. The offer is open for non-retail investors only and on May 19, which is the T Key Points
Economic TimesJewels in govt crown give returns of up to 500% on OFS bets
OFS in state firms returned between 25 and 500% in 11 companies of the 17 in which New Delhi chose this route to dilute ownership. Only one offer is presently trading below OFS price. Key Points
Economic TimesKolkata-based Senco Gold's IPO to open on July 4. Check details
Kolkata-based jewelry retailer Senco Gold is preparing for its initial public offering (IPO), which will open on July 4 and close on July 6. The IPO consists of a fresh issue of up to Rs 270 crore and an offer for sale (OFS) of up to Rs 135 crore. The price band is yet to be determined. Senco Gold, the largest organized jewelry retail player in eastern India, primarily sells gold, diamond, platinum, silver, and other precious stones. Proceeds from the IPO will be used for working capital and general corporate purposes. Key Points
Economic TimesWipro CFO talks about reducing salaries by 50 percent, says freshers wanted fast onboarding over higher offers
Wipro's Chief Financial Officer, Jatin Dalal said that 92 percent of freshers decided to join the company at the low salary offer in order to fast-track the onboarding process. Wipro had announced slashing freshers' pay by 50 percent in February. Key Points
India TodayiPhone 13 and Samsung Galaxy S23 available at lower prices on Flipkart, here are the details
The iPhone 13 is again available for less than Rs 60,000, but with a bank offer. For Android phone lovers, there is also a discount offer available on the Samsung Galaxy S23 smartphone. Key Points
India Today
Apple to close this 121-member unit, move could affect India too. Here's how
The team, based in San Diego, has been asked to relocate to Austin. Those who reject the offer will be terminated in April. Key Points
Hindustan TimesInox India to launch IPO on December 14. Check details
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Under the OFS, Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, Lata Rungta, among others, will offload shares. Key Points
Economic TimesL’affaire Religare: We need clarity in the haze of its takeover battle
After allegations related to betting app Mahadev reached Dabur’s owners, the family contended it’s an attempt to thwart their bid for Religare. Although it’s a season of political intrigue, with charges flying around, the law must eventually prevail—for the sake of capital markets. Key Points
mintShreyas Shipping delisting: Counter offer period begins today at ₹400 per share, ends on October 17
Shreyas Shipping delisting bidding period starts at ₹400 per share. Transworld Holdings makes counteroffer at ₹400 per share. Key Points
mintGadar 2 announces free ticket offer on Raksha Bandhan amid box office success
Gadar 2 stars Sunny Deol and Ameesha Patel. It is directed by Anil Sharma. | Bollywood Key Points
Hindustan Times
SBFC Finance shares list at robust premium of 44% over IPO price
Led by the robust institutional response, the initial public offer (IPO) of SBFC Finance was subscribed by a massive 70.16 times at close. Monday was the last day of bidding for investors. Key Points
Economic TimesJ&J rises as $9 bln talc lawsuit settlement eases overhang on unit spinoff
Johnson & Johnson's shares rose nearly 4% in early trading to hit a near two-month high of $164.48 on Wednesday as the company's $8.9 billion offer to settle talc-related lawsuits gained support of thousands of claimants, easing an overhang on its plans to list consumer health unit Kenvue. Key Points
ReutersGretex Share Broking files DRHP with SEBI for IPO
The IPO, with a face value of ₹10, comprises a fresh issue of 16.78 million equity shares and an offer-for-sale (OFS) of 3.096 million shares by selling shareholders. Key Points
mintApple is offering up to 50 per cent off on AirPods but there is a catch
Apple is offering a special discount to Indians on AirPods and you can grab them for half their price. However, there is a catch. Key Points
India TodayUtkarsh IPO: Issue subscribed over 82 times on day 3 so far; QIB portion sees huge demand
Utkarsh Small Finance Bank's IPO was subscribed 82.68 times on Day 3 so far. QIBs subscribed 93.29 times, NIIs 76.61 times, retail investors 66.80 times. Key Points
mint
NARCL gives binding offers for two highway assets and a steel company
If lenders approve a binding offer for the two road projects and the steel company, it will be followed by a Swiss challenge auction. NARCL's offer for the three companies is less than 10% of their outstanding dues, one of the persons said. Key Points
Economic TimesRs 70,000 crore pipeline awaits IPO market in FY25, featuring some household names
Companies raised Rs 62,000 crore through initial share sales in fiscal 2024 and the pipeline looks equally strong. As much as Rs 70,000 crore worth of offerings are expected to hit the markets next fiscal with some big names in the mix. Key Points
Economic TimesIndependent directors of Religare rebel against Burmans' takeover plan
Religare's independent directors have alleged that the Burmans are in material breach of regulatory obligations that may harm the firm. Of the six-member board, five are independent. They are Malay Kumar Sinha, Hamid Ahmed, Praveen Kumar Tripathi, Ranjan Dwivedi and Preeti Madan. The board is led by executive chairperson Rashmi Saluja. Key Points
Economic TimesBurman family hikes Religare stake to over 25%, increases grip on company
The Burman family has consolidated their position in Religare Enterprises Limited (REL) by increasing their stake by around 4% through open market purchases. Their cumulative stake now stands at 25.1%. The stake hike was done at an average price below Rs 235/share, which is the open offer price. Key Points
Economic TimesBurman family likely to have upped stake in Religare Enterprises
In September 2023, the Burman family, which owns Dabur, signalled its intention to acquire a 5.27% stake in the financial services company for ₹407 crore, taking their shareholding to over 26%, triggering an open offer. Key Points
Business Today
Retailers say Samsung's upgrade offer exposes them to compliance risks
Many mobile phone retailers are facing trouble due to Samsung's new smart upgrade offer. The retailers allege malpractices in the ongoing device exchange offer that is exposing them to risks in regulatory compliance. In response, Samsung has taken corrective measures. Key Points
Economic TimesVitesco says new Schaeffler offer for EV merger 'inadequate'
German automotive supplier Schaeffler (SHA_p.DE) raised its offer price for shares in Vitesco Technologies (VTSCn.DE) on Monday, as a goodwill gesture, but Vitesco management said the new offer was "inadequate". Key Points
ReutersPatanjali OFS fully subscribed, stock hits 5% upper circuit
The cut-off price, based on bids made in the non-retail category, has been fixed at Rs 1103.80. Retail investors, as defined by those with investments less than Rs 2 lakh, can therefore apply for a maximum number of 181 shares. Key Points
Economic TimesIndoStar Capital Finance promoters to sell 14.2% stake via OFS
Promoters of IndoStar Capital Finance propose to sell up to 1,93,40,000 equity shares representing 14.21% of the total paid-up equity shares with a face value of ₹10.00. The floor price of the offer will be be ₹ 95 per equity share Key Points
mintAmazon 5th Gear store 5G smartphones sale: Redmi Note 12 5G, iQoo Z6, more
Interestingly, customers who are upgrading their phones can receive an extra exchange bonus of up to ₹14,000. In addition, purchasers can take advantage of up to 12 months of no-cost EMI on certain smartphones. Key Points
mint
Senco Gold and 5 other IPOs set to hit the Street this week. Check details
The second half of the year is expected to see a number of companies launching their initial public offerings (IPOs). Senco Gold, PKH Ventures, Global Pet Industries, Tridhya Tech, and Synoptics Technologies have already opened for subscription. Senco Gold's IPO will open on July 4, while PKH Ventures' IPO began on June 30. In addition, four SMEs will also bring their public issues this week. Alphalogic Industries' IPO will open on July 3, and Global Pet Industries, Tridhya Tech, and Synoptics Technologies' IPOs will close on July 3, July 5, and July 5, respectively. Key Points
Economic TimesIPO market buzzing as 7 issues set to hit the Street this week
Seven public issues, including three mainstream IPOs and four SME IPOs, are set to hit the Indian markets this week. IdeaForge will open its much-awaited IPO for subscription on June 26th, offering equity shares of up to INR 240 crore and an offer for sale of 48.6 lakh shares. Meanwhile, Cyient DLM's IPO, offering equity shares for Rs 250-265 a piece, will open on June 27th while PKH Ventures will bring in an initial offering of up to 1.82 crore shares on June 30th. The SME space will also see four IPOs worth INR 107 crore in total. Key Points
Economic Times