Author: Legal Parivar

Inox Wind Limited (IWL) has received a ₹900-crore capital infusion from its promoter, Inox Wind Energy Limited (IWEL). The funds were raised through the sale of IWL’s equity shares in block deals on stock exchanges, attracting participation from several high-profile investors. According to a filing with the Bombay Stock Exchange (BSE), IWEL finalized the capital infusion on July 4, marking a significant step toward achieving a debt-free status for IWL. The proceeds will be used to retire the company’s external term debt, enhancing its financial position and accelerating growth prospects. CEO Kailash Tarachandani expressed optimism about the company’s future. “This…

The Government of India and telecom regulator have decided not to intervene or prevent telecom companies from raising mobile tariffs, according to an Economic Times report. Telecom tariffs in India remain among the lowest globally, prompting authorities to urge telecom companies to prioritize improving service quality. Officials emphasized that the situation is “not critical” and does not require intervention. “There is enough competition in the telecom sector, and the situation is not critical and requires intervention from the authorities. Consumers may feel some pinch of the price rise, but the hike has happened after three years,” an official told ET.…

Bajaj Finance’s share price gained over a percent in early trade on Thursday following a robust business update for the first quarter of FY25. The non-banking finance company (NBFC) reported a 31% increase in total assets under management (AUM), reaching ₹354,100 crore as of June 30, 2024, compared to ₹270,097 crore in June 2023. AUM grew by approximately ₹23,500 crore in Q1 FY25, according to a regulatory filing by Bajaj Finance. New loans booked saw a 10% year-on-year (YoY) growth, totaling 10.97 million in the quarter ended June 2024, up from 9.94 million in the same period last year. The…

1. Surge in Speculative Market Activity Among Young Investors The share of Indians under 30 on the National Stock Exchange of India has nearly doubled since the pandemic, now making up 40.1% of the 95 million registered investors in May, up from 22-23% in 2018-19, according to the Mint. This age group has been the largest on the NSE for the past three years. Why it’s important: The stock market’s growth has attracted GenZ to speculative activities, such as index options and cash market trading. Some may transition to more serious investing. 2. UltraTech in Advanced Talks to Acquire Orient…

On Wednesday, July 3, the initial public offering (IPO) of steel wire maker Bansal Wire Industries Ltd began with a robust response from retail and non-institutional investors. By the end of the first day, the IPO subscription status was 1.76 times, according to BSE data. The retail investor quota was subscribed 2.47 times, while the non-institutional investor (NII) component was subscribed 2.44 times. One percent of the category is reserved for Qualified Institutional Buyers (QIBs). The IPO allocates 15% of its shares to NII, 50% to QIB, and 35% to retail investors. On Tuesday, Bansal Wire Industries announced it had…

ITD Cementation’s promoter shareholder, Italian Thai Development, is in the early stages of exploring the divestment of its stake in the company, according to an exchange filing on July 3. The process is still preliminary, and no definitive decision has been made. Italian Thai Development Public Company (ITD Bangkok), the parent company, currently holds a 47 percent stake in ITD Cementation. The shares of ITD Cementation have nearly doubled this year, with a 255 percent increase over the past year, giving the company a market capitalization of Rs 9,857.17 crore as of July 3. ITD Cementation India specializes in heavy…

Patna-based BMW Ventures has filed preliminary papers with SEBI for its maiden public issue to raise funds. The IPO will consist solely of a fresh issue of 2,34,18,000 equity shares, which will constitute 27% of the post-issue paid-up equity share capital. The company, a distributor of long and flat steel products in Bihar, plans to utilize the proceeds primarily for Rs 175 crore in working capital requirements. The remainder will be allocated for general corporate purposes, with Rs 140 crore expected in FY 2025 and Rs 35 crore in FY 2026. BMW Ventures deals in various steel products such as…

Remedium Lifecare saw its stock soar from an opening price of ₹75 on the BSE to an intraday high of ₹86.56 on Tuesday, marking a significant 15.41% increase in a single session. The surge was driven by the company’s announcement that its Board of Directors is scheduled to convene on Monday, July 8, 2024, to discuss and approve a proposal to raise up to ₹200 crore through a Qualified Institutional Placement (QIP). In a regulatory filing, Remedium Lifecare stated, “The Board will evaluate and approve the proposal to raise funds up to ₹200,00,00,000 by way of issuance of equity shares,…

Here are key details about the upcoming Bansal Wire Industries IPO: Disclaimer: Investors are advised to consult with financial experts before making investment decisions based on the grey market premium or other speculative information.

Prime Minister Narendra Modi took a pointed dig at Rahul Gandhi on Tuesday, suggesting an understanding of the frustration of those who faced significant electoral setbacks despite perpetuating falsehoods continuously. “Baalak buddhi ko kaun samjhaye ki tumne fail hone ka record bana diya hai. 10 elections have happened since 1984, Congress has not been able to cross 250. They are stuck at 99 this time,” he said.  Modi highlighted this as the ‘third-largest defeat’ suffered by the Opposition party to date. “It would have been better if Congress had accepted its defeat and respected the mandate of the people but…