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Delhi-based Refrigeration Sealing Solutions Company,   Ajay Poly Limited , has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through Initial Public Offering (IPO). The IPO with a face value of Re 1 is a mix of fresh issue of shares of up to Rs. 238 crore and an offer for sale (OFS) of up to 93,00,000 equity shares each by Promoter and Investor Selling Shareholders. Offer of Sale consists of shareholders selling shares up to 37, 00,000 equity shares by Bina Jain, up to 28,00,000 equity shares by Rajeev Jain, and up to 28,00,000 equity shares by Nitin Jain. The company, in consultation with the BRLMS, may consider a pre-IPO placement of specified securities aggregating up to Rs. 47.60 crores. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue. The proceeds from the fresh issue to the extent of Rs. 119 crores for repayment or p...

BACKLOG OF OVER 5 CRORE CASES  PENDING IN INDIAN COURTS India is world’s largest democracy, having slowest judiciary in the world with a backlog of over 5 crore cases in various courts of India as on December 2023. It is the dire necessity of Indian public that they should get a timely justice within reasonable time frame for which the onus lies on Indian Government. The Govt. should take all the necessary required steps to mitigate the hardship of common men like increasing number of judges in various courts, the number of maximum hearings should be cut down to say 4 per case and passing of orders within a fixed time frame. No priority of hearings should be given to politicians & VIPs but they should be considered at par with the general public, who deserve speedy delivery of justice, stated Bhagwanji Bhai Raiyani, Chairman of Forum For Fast Justice. From Left To Right: Adv Sandeep Jalan Shri Venkatraman Shri Bhagvanji Raiyani, National Chairman Emeritus, Forum For Fast Justic...

Kolkata-based FMCG Player Ganesh Consumer Products Limited, the third largest brand of packaged whole wheat flour (atta) and largest brand of wheat-based derivatives (maida, sooji, dalia) in East India, in terms of value sold in Fiscal 2024, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds through Initial Public Offering (IPO). The IPO, with a face value of Rs 10, is a mix of fresh issue of shares up to Rs 130 crore and an offer-for-sale up to 12.44 million equity shares by Promoter and Investor Selling Shareholders. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion. Offer for Sale consists of shareholders selling shares up to 29,46,225 equity shares by Manish Mimani, up to 1,45,494 equity shares by Madhu Mimani, up to 31,79,124 equity shares by India Business Excellen...

Mumbai, December 27, 2024:  Shares of Sanathan Textiles Limited debuted on the exchange listing at a 31% premium. The scrip listed Rs 419.10 per share on BSE, a premium of 30.56% and Rs 422.30 per share on NSE, a premium of 31.56%. The company's share price closed at Rs 389 per share on the BSE, a 21.18% premium, and at Rs 393.90 per share on the NSE, a 22.71% premium. As per NSE, the total quantity traded stood at 137.03 lakh shares, on BSE the total Quantity stood at 12.49 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 611.16 crore. Mr. Paresh Dattani, CMD, Sanathan Textiles Limited  said "We are deeply humbled and immensely grateful for the overwhelming trust and support shown by our investors. Today’s listing marks a significant milestone in our journey, and it would not have been possible without your confidence in our vision and strategy. As we step into this new chapter as a publicly listed company, we reaffirm our commitment to delivering value to our ...

Tokyo-based Fujita Corporation backed Neilsoft Limited, a technology-driven, pure-play engineering services and solutions ( ER&D ) company with over 20 years of experience in servicing global customers, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds through Initial Public Offering (IPO). The IPO, with a face value of Rs 5, is a mix of fresh issue of shares up to Rs 100 crore and an offer-for-sale for sale up to 8 million shares by Promoters and Other Selling Shareholders. Offer for sale consists of shareholders selling shares up to 1,145,384 by Rupa Harish Shah jointly with Harishkumar Shah, up to 1,255,784 equity shares by Netsophy Private Limited, up to 147,764 equity shares by Nishit Shah jointly with Rupa Harish Shah, up to 41,376 equity shares by Harishkumar Shah jointly with Rupa Harish Shah, up to 2,440,884 equity shares by Small Industries Development Bank of India, up to 1,854,8...

Gurgaon-based Services Company, Earthood Services Limited, a globally recognized company engaged in certifying environmental attributes primarily providing carbon validation and verification services; and Environmental, Social, and Governance (ESG) advisory and assurance services to customers in India and overseas, has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The IPO, with a face value of Rs 10, combines a fresh issue of up to 36 lakh equity shares and an offer for sale of up to 42 lakh equity shares by Promoter Selling Shareholders. The offer for Sale consists of shareholders selling up to 27.30 lakh equity shares by Dr. Kaviraj Singh and up to 14.70 lakh equity shares by Ashok Kumar Gautam. The offer also includes a subscription reservation by eligible employees, and a discount is being offered to eligible employees bidding in the employe...

National, December 26, 2024:  Vipul Shah, Chairman, GJEPC, met with Hon’ble Finance Minister Smt. Nirmala Sitharaman today during a pre-budget consultation held in Delhi today.During the meeting, Mr. Shah presented key recommendations on behalf of the gem and jewellery industry, aimed at fostering growth, enhancing global competitiveness, and addressing the industry's critical challenges. Vipul Shah, Chairman, GJEPC  said, "We thank the Hon’ble Finance Minister for reducing the import duty on precious metals in the last budget, a move that has spurred unprecedented growth in the sector. This is evident from the multiple stock market listings of family-run jewellery businesses, the expansion of major retailers overseas, and the planned opening of 3,000 retail outlets in the next two years, creating lakhs of employment opportunities across the country." Shah further added,  “We also thank FM for introducing Safe Harbor Rule for sale of rough diamonds at SNZs by foreign mine...

Bollywood Stars and Ashish Kacholia backed Sri Lotus Developers and Realty Limited a real estate developer engaged in construction of residential and commercial premises in Mumbai, Maharashtra, with a focus in Redevelopment Projects in the Ultra Luxury Segment and Luxury Segment in the western suburbs, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise Rs 792 crore through Initial Public Offering (IPO). The IPO, with a face value of Re 1, is a fresh issue of shares up to Rs 792 crore with no offer-for-sale component. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion. Earlier this month, Sri Lotus Developers raised approximately Rs 407.6 crore through a private placement at Rs 150 per share. Among the investors, Bollywood icon Amitabh Bachchan purchased around 6.7 lakh shares f...

Jaipur-based Mangal Electrical Industries Limited, processer of transformer components, transformer lamination, CRGO slit coils, amorphous cores, coil assemblies and core assemblies, wound core, toroidal core, and oil-immersed circuit breakers, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise Rs 450 crore through Initial Public Offering (IPO). The IPO, with a face value of Rs 10, is a fresh issue of shares up to Rs 450 crore with no offer-for-sale component. The company, in consultation with the BRLMS, may consider a further issue of specified securities, including through private placement, preferential allotment, rights issue, or any other method aggregating up to ₹90 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue. The proceeds from the fresh issue to the extent of Rs 96.03 crore for repayment/ p...

Mohali, December 26, 2024:  The Train Control Systems Division of Quadrant Future Tek Limited (Quadrant), a research-oriented company working on Railway safety and Train control Embedded Systems, announced today that it has been awarded a prestigious INR   978.61 crore (including taxes)  contract by the Indian Railways and Chittaranjan Locomotive Works (CLW) for the installation and commissioning of Kavach systems on 1,200 locomotives. The Kavach system, India’s indigenous Automatic Train Protection (ATP) technology, developed in collaboration with RDSO, has been a transformative solution for ensuring enhanced safety, reduced human error, and optimized train operations. This project represents Quadrant’s largest contract to date, underscoring the Company’s commitment to driving safety innovations and supporting the modernization of India’s railway network. “ This achievement is a testament to Quadrant’s dedication, innovation, and expertise in the development and imp...

Navi Mumbai  – Utkarsh Small Finance Bank Limited (Utkarsh SFBL) is pleased to announce the inauguration of its new banking outlet in  Handewadi- Pune, Maharashtra . This expansion underscores the Bank's commitment to enhancing financial inclusion and providing essential banking services to the residents of Handewadi- Pune, Maharashtra. With this launch, the bank has reached 1015 banking outlets across the country and 80 in the state of Maharashtra. Commenting on the expansion, Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank Limited  said, "Our new banking outlet in Handewadi reflects our dedication to strengthening our network in Maharashtra. Known for its rich history and strong community ties, Handewadi is an integral part of Pune. This region is famous for its landmarks such as the serene Aga Khan Palace, a site of historical importance in India's freedom struggle, and the vibrant Koregaon Park, known for its cultural richness and community spirit. The open...