Shree Tirupati Balajee Agro Trading Company will launch its Rs 170 crore IPO on September 5, 2024, closing on September 9. The issue includes a fresh sale of 1.47 crore shares and an offer-for-sale of 56.9 lakh shares by promoter Binod Kumar Agarwal. The anchor book opens on September 4. The funds will be used for business growth and debt reduction.
IPO
Bharat Electronics Profit Jumps 46%, Shares Surge 5%
Shares of Bharat Electronics Ltd. surged 5% after releasing its April-June results. Net profit rose 46% year-on-year to ₹776 crore, beating the ₹706 crore estimate. Revenue increased 19.6% to ₹4,199 crore. EBITDA grew 41% to ₹937 crore, with a margin of 22.3%. The order book stood at ₹76,705 crore. Shares are up 74% in 2024 … Read more
Angel Tax Removal Boosts Investor Appeal for Startups
Removing the angel tax for startups is expected to attract more investors. This change, announced by the Indian government, exempts startup investments from the tax, addressing concerns over funding and valuations. The policy shift aims to bolster the startup ecosystem by making it easier for startups to secure capital and for investors to invest without … Read more
Zen Technologies Gets Nod for Anti-Drone System Exports
Zen Technologies has received approval to export its anti-drone systems and simulators. This approval, granted by the Indian government, allows the company to cater to the growing global demand for advanced defense technology. Zen Technologies aims to enhance its international footprint with these high-tech defense solutions.
Ola Electric’s Rs 5,500 Crore IPO to Hit Dalal Street on August 2
Ola Electric Mobility will launch its IPO on August 2, featuring a fresh issue of shares worth Rs 5,500 crore and an offer-for-sale of 8.49 crore equity shares. The price band will be announced on July 29, with the IPO closing on August 6. The anchor book will open on August 1. Promoters Bhavish Aggarwal … Read more
Sun Pharma’s Alopecia Areata Drug Gets USFDA Approval
Sun Pharma received USFDA approval for its drug to treat alopecia areata, an autoimmune disorder causing hair loss. The approval, granted on July 10, 2024, marks a significant milestone for Sun Pharma, allowing it to market the drug in the US. This drug offers a new treatment option for patients suffering from this condition and … Read more
Tata Power and Bank of India Partner for Solar, EV Charging Financing
Tata Power Solar Systems partnered with the Bank of India to provide financing for solar and EV charging stations. This collaboration aims to support the adoption of sustainable energy solutions by offering easy financing options to customers. The partnership will facilitate the installation of solar power systems and EV charging infrastructure across India, promoting clean … Read more
DLF to Launch Rs 1.04 Lakh Crore Worth of Real Estate Projects
DLF plans to launch Rs 1.04 lakh crore worth of real estate projects in the medium term. The company aims to develop 35 million square feet of residential and commercial space across various cities in India. This strategic move is part of DLF’s effort to capitalize on growing demand in the real estate sector and … Read more
Paytm Secures Government Nod for Major Investment in Payments Arm!
Paytm received government approval for an investment in its payments arm, Paytm Payments Services Limited (PPSL). The nod came on July 10, 2024, following compliance with Foreign Exchange Management Act (FEMA) regulations. This investment aims to enhance the company’s payment services infrastructure and expand its digital financial services reach.
GRSE Secures Rs 840 Cr Deal for Advanced Ocean Research Vessel
Garden Reach Shipbuilders & Engineers (GRSE) signed an Rs 840 crore deal with the National Centre for Polar and Ocean Research (NCPOR) to construct an ocean research vessel. The vessel, intended for research in the Arctic and Antarctic regions, will be completed in 36 months. This project aims to bolster India’s maritime research capabilities, emphasizing … Read more