Author: Legal Parivar

Winny Immigration IPO: Following a strong investor response during the bidding period from June 20 to June 24, attention now shifts to the allotment process for Winny Immigration and Education Services. The allotment for the Winny Immigration and Education Services IPO is expected to be finalized today. Investors can check their allotment status through the registrar, Bigshare Services Pvt. Ltd. With oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, Winny Immigration and Education Services will initiate the refund process for the application…

ZYOD, a Gurgaon-based startup specializing in apparel sourcing and manufacturing, has secured $18 million in its Series A funding round. RTP Global led this investment round, with participation from existing investors Lightspeed and Alteria Capital, as well as new investors Stride Ventures, Stride One, and Trifecta Capital. In a press release, ZYOD announced its intention to utilize the funding to expand operations across more than 40 countries. The startup emphasized plans for technological advancements, talent acquisition, and ongoing disruption of India’s apparel manufacturing ecosystem. Ankit Jaipuria, Co-founder of ZYOD, expressed, “With this funding, we will continue to collaborate closely with…

Allied Blenders IPO: Allied Blenders and Distillers’ IPO witnessed robust interest from retail and non-institutional investors on its first day of bidding, June 25. Data from exchanges revealed bids for 72.3 lakh equity shares, amounting to 0.2 times the total offer size of 3.9 crore shares. Retail investors subscribed to nearly 26% of their allotted quota, while non-institutional investors subscribed to 23% of their portion. Qualified institutional buyers (QIBs) bid for over 4,300 shares against the 1.1 crore shares allocated to them. The IPO includes a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale of Rs 500…

Kangana Ranaut, actor-turned-politician and Member of Parliament from Mandi, has announced the release date of her upcoming film ‘Emergency,’ where she portrays former Prime Minister Indira Gandhi. Taking to her Instagram handle on June 25, Kangana unveiled a new film poster depicting herself as Indira Gandhi and revealed that the movie will hit theaters on September 6, 2024. The film, titled ‘Emergency,’ marks Kangana Ranaut’s role not only as the lead actor but also as the writer, director, and producer under her banner Manikarnika Films Production. Originally scheduled for release on November 24, 2023, the film faced delays, including postponement…

DTDC Express, a prominent logistics provider in India, has appointed Ankita Tiwari as its Chief Human Resources Officer (CHRO), the company announced on Tuesday. Tiwari brings over twenty years of extensive experience in HR leadership across diverse industries to DTDC. Her focus at DTDC will be on fostering diversity, equity, and inclusivity, and nurturing a robust organizational culture, according to a statement from the company. Known for her adeptness in building strong relationships and enhancing people skills, Tiwari has a proven track record in cultivating a positive work environment, the statement added. Prior to joining DTDC, Ankita held senior HR…

Divine Power Energy Ltd has commenced its initial public offering (IPO) subscription from June 25 to June 27. The IPO offers shares in a lot size of 3,000 shares, priced between ₹36 to ₹40 per equity share with a face value of ₹10. Divine Power Energy Ltd manufactures winding copper/aluminum wires and strips used in transformers and power distribution. These products are crucial for regulating voltage and reducing power loss during electricity transmission. As per the red herring prospectus, listed peers include Shera Energy Ltd, Bhagyanagar India Ltd, Rajnandini Metal Ltd, Ram Ratna Wires Ltd, and Precision Wires India Ltd.…

Borosil Ltd witnessed a more than 4% increase in its share price on June 25, following the announcement that its board has approved a Qualified Institution Placement (QIP) at a floor price of Rs 331.75 per share. The company aims to raise up to Rs 250 crore through this issuance, as detailed in its exchange filing. According to Borosil’s statement to the stock exchange, the board meeting held on June 24, 2024, also included approval and authorization for the opening of the issue on the same day, adoption of the preliminary placement document dated June 24, 2024, and approval of…

Wipro Ltd faced significant challenges during FY24, characterized by a volatile global economic environment that impacted client technology spends, as acknowledged by Chairman Rishad Premji in the company’s annual report for the year ended March 2024. Despite these difficulties, Wipro remains committed to innovation and future investments. The past year saw leadership changes, including the appointment of Srinivas Pallia as CEO, who succeeded Thierry Delaporte. Pallia described FY24 as a testing period marked by macroeconomic challenges affecting industry performance. Wipro reported a 4.4% decline in annual revenue to $10.8 billion in FY24, contrasting with revenue growth reported by its peers…

Krystal Integrated Services saw its stock climb 8.5% to ₹883.90 per share in today’s intraday trade following the initiation of coverage by Nuvama Professional Clients Group. The brokerage set a target price of ₹1,369 per share, indicating a potential upside of 68% from the stock’s latest closing price of ₹814. Krystal Integrated Services, a prominent player in India’s integrated facilities management services sector, operates across diverse segments including healthcare, education, public administration, airports, railways, metro infrastructure, and retail. The company debuted on the Indian secondary market on March 21 at ₹713, closely aligned with its IPO price of ₹715. Since…

Allied Blenders and Distillers has launched its IPO subscription today, June 25, which will conclude on Thursday, June 27. The price band for the Allied Blenders IPO ranges from ₹267 to ₹281 per equity share, with a face value of ₹2. The company has already secured ₹449.1 crore from anchor investors ahead of its IPO. The IPO consists of a fresh equity share issuance worth ₹1,000 crore and a promoter offer-for-sale (OFS) of shares valued at ₹500 crore. Proceeds from the new issuance, totaling ₹720 crore, will be allocated towards general corporate purposes and debt repayment. As of December 2023,…