Bright News

Mumbai,  January 03, 2025 :  Quadrant Future Tek Limited, has fixed the price band of ₹ 275/- to ₹ 290/- per Equity Share of face value ₹ 10/- each for its maiden initial public offer. The Floor Price is 27.5 times the face value of the Equity Share and the Cap Price is 29.0 times the face value of the Equity Share. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on  Tuesday, January 07, 2025 , for subscription and close on  Thursday, January 09, 2025 . Investors can bid for a minimum of 50 Equity Shares and in multiples of 50 Equity Shares thereafter. The IPO is entirely a fresh issue of up to ₹ 2,900 million with no offer of sale component. The proceeds from its fresh issuance to the extent of ₹ 1497.22 million will be utilized for funding long-term working capital requirements of our Company (Specialty Cable Division); ₹ 243.75 million for capital expenditure for development for Electronic Interlocking System; ₹ 236.19 million for prepaymen...

Gujarat-based Stainless-Steel Company Rajputana Stainless Limited, engaged in the business of manufacturing of long and flat stainless-steel products comprising of billets, forging ingots, rolled black bar, rolled bright bar, flat & patti and other ancillary products, 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 190 lakh equity shares and an offer-for-sale of up to 35 lakh shares by Shankarlal Deepchand Mehta. The proceeds from the fresh issue to the extent of Rs 18.31 crore funding capital expenditure requirements in relation to the setting up of the Proposed Facility; Rs 37.68 crore funding Working capital requirement for the Proposed Facility; Rs 76.50 crore for full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the C...

Kolkata-based FMCG Player Regaal Resources,  one of the largest manufacturers of maize based specialty products in India, with an installed crushing capacity of 750 tonnes per day ( TPD ), according to a  F&S Report , 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 190 crore and an offer-for-sale up to 9 million equity shares by Promoter and Promoter Group Selling Shareholders. Offer for Sale consists of shareholders selling shares up to 3,095,440 equity shares by Anil Kishorepuria, up to 1,800,000 equity shares by Shruti Kishorepuria, up to 2,532,300 equity shares by BFL Private Ltd, up to 1,572,260 equity shares by SRM Private Ltd.          The company, in consultation with the BRLMS, may consider a further issue of equity shares through...

Sunil Singhania’s Abakkus backed Caliber Mining and Logistics is  among one of the top 10 mining operators managing overburden removal, coal extraction and coal logistics together as an integrated services provider, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise Rs 600 crore 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 500 crore and an offer-for-sale of up to Rs 100 crore by Promoter Selling Shareholders. Offer of Sale consists of shareholders selling shares up to Rs 25 crore by Mohit Satishkumar Chadda, Rs 25 crore by Anuj Krishanlal Chadda, Rs 25 crore by Manish Krishanlal Chadda, Rs 25 crore by Rahul Roshanlal Chadda. According to the shareholding pattern, as on the date of this Draft Red Herring Prospectus, Promoter and Promoter Group held 94.91%, and Abakkus Four2eight Opportunities Fund held 3.89%. The company, in ...

NATIONAL,  2nd January, 2025 : The International Conference on Tsunami Risk Reduction and Resilience (ICTR³), organized by Amrita Vishwa Vidyapeetham in association with the Amrita School for Sustainable Futures, the UNESCO Chair on Experiential Learning for Sustainable Innovation and Development, and the Amrita Centre for Wireless Networks and Applications, concluded at the university’s Amritapuri campus. Goa Governor P.S. Sreedharan Pillai, the chief guest at the valedictory ceremony, expressed happiness over such a significant global conference being held in a small region like Alappad. He commended Amrita Vishwa Vidyapeetham and Mata Amritanandamayi Devi (Amma) for their efforts in seamlessly blending tradition with science in their work. Dr. M. Ravishankar, Principal of the Amrita School for Sustainable Futures, welcomed the gathering. Other speakers included Dr. T.M. Balakrishnan, Director of the Indian National Centre for Ocean Information Services; Zoichiro Yasukawa, Chief ...

New Delhi,  January 2, 2025 :  Axis  Max Life Insurance Ltd.  formerly known as Max Life Insurance Company Ltd.  (“Axis Max Life”/ “Company”) , announced the launch of  Axis Max Life Sustainable Wealth 50 Index Fund . This first-of-its-kind fund which intends to invest in companies that generate consistent cash flows based on the proprietary  Sustainable Yield Index  is developed by Axis Max Life. This customised Index will be computed and maintained by NSE Indices Limited. Fund Highlights: Fund Objective:  The  Axis Max Life Sustainable Wealth 50 Index Fund  invests in a basket of 50 top-performing stocks based on a proprietary equal weighted factor-based quantitative index. It is designed to identify top-performing stocks from the Nifty 500 universe based on Free Cash Flow Yield (FCF Yield) for non-financial companies and Dividend Yield for financial companies. Asset Allocation: Equity:  80–100% Cash &...

Announces foray into growing Electric vehicle (EV) segment with low-speed Electric Two Wheelers Mumbai,  2 January 2025  – AlphaVector’s (India) Pvt. Ltd. brand Ninety One Cycles, has crossed a milestone of selling 3 million bicycles including selling a record 440,000 units sale in the calendar year 2024. The company witnessed sales growth of over 100% in markets like Uttar Pradesh, Bihar, Chattisgarh, Orissa and Jharkhand where demand for reliable and aspirational mobility is on the rise. Riding on this growing demand and strong customer base, AlphaVector will also be foraying into the growing Electric Vehicle (EV) segment with low-speed electric two-wheelers. AlphaVector’s Ninety One has rapidly grown into one of India’s leading active lifestyle and mobility brands. Ninety-One bicycles are particularly popular in states like Maharashtra, Gujarat, Uttar Pradesh, Tamil Nadu, and Karnataka, where cycling is increasingly embraced for fitness and daily commuting. The brand's dive...

Mumbai, January 2, 2024:  Capital Infra Trust (the “InvIT”), an infrastructure investment trust sponsored by Gawar Construction Limited has filed its offer document dated December 27, 2024 (“Offer Document”) for public issue of its units aggregating up to ₹ 1,578 crore. The price band for the Issue is ₹99 to ₹100 per Unit. The Units are proposed to be listed on BSE and NSE (collectively, the “Stock Exchanges”) with BSE as the Designated Stock Exchange for the Issue. The Issue is being made through the Book Building Process, wherein not more than 75% of the Offer shall be available for allocation on a proportionate basis to Institutional Investors, and not less than 25% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors. The InvIT has received rating of ‘Provisional CRISIL AAA/Stable (Assigned)’ from Crisil Ratings Limited on December 31, 2024. The InvIT primarily intend to acquire, manage and invest in the nine comp...

Mumbai, December 31, 2024:  Standard Glass Lining Technology Limited is one of the top five specialized engineering equipment manufacturers for the pharmaceutical and chemical sectors in India, in terms of revenue in Fiscal 2024, it has fixed the price band of  ₹133/-  to  ₹140/-  per Equity Share of face value ₹10/- each for its maiden initial public offer. The Initial Public Offering (“ IPO ” or  “Offer” ) of the Company will open on  Monday, January 6, 2024 , for subscription and close on  Wednesday, January 8, 2024 . Investors can bid for a minimum of 107   Equity Shares and in multiples of 107   Equity Shares thereafter. The IPO is a mix of fresh issues of up to Rs 210 crore and an offer of sale of up to 1,42,89,367 equity shares by Promoter Selling and Promoter Group and Other Selling Shareholders. The proceeds from its fresh issuance to the extent of Rs 10 crore will be utilized for funding of capital expenditure requirements of t...

Mumbai-based Fabtech Technologies, a key turnkey engineering solution provider in the pharmaceuticals capex space, offering comprehensive start-to-finish solutions encompassing designing, engineering, procurement, installation, and testing of pharmaceutical equipment for a wide range of customers, has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The Company had filed its IPO papers with Sebi on September 14, 2024. The IPO with a face value of Rs 10 per equity share is entirely a fresh issue of up to 1.20 crore equity shares. 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. The company, in consultation with the book-running lead managers, may consider a further issue of equity shares through a private placement, pref...