Author: Legal Parivar

The year 2025 turned out to be a landmark one for India’s primary market, with companies raising a record ₹1,75,901 crore through mainboard initial public offerings (IPO ‘s). A total of 103 companies tapped the market during the year, surpassing the previous record of ₹1,59,784 crore raised via 91 IPO ‘s in 2024. Despite the strong fund-raising numbers, investor response showed some moderation compared to last year. Data from PRIME Database indicates that while overall demand remained robust, subscription levels were relatively lower than in 2024. More notably, post-listing performance has emerged as a concern, as several highly subscribed IPOs…

Shares of Vodafone Idea (Vi) came under heavy selling pressure on Wednesday, December 31, plunging as much as 15% in intraday trade to hit the lower circuit on the BSE amid reports related to its adjusted gross revenue (AGR) liabilities. The stock opened at ₹12.14, marginally higher than its previous close of ₹12.07, but soon reversed course and slid sharply to hit its lower price band of ₹10.26 during the session. The sudden decline followed media reports suggesting that the Union Cabinet had decided to freeze Vodafone Idea’s AGR dues at ₹87,695 crore. The development appeared to dampen investor sentiment,…

Following the close of bidding on Tuesday, the E to E Transportation Infrastructure IPO witnessed exceptionally strong demand, with the issue being subscribed 526.55 times by the end of Day 3. With the bidding process now complete, investors are awaiting the IPO allotment, which is most likely to be finalised today, December 31, 2025. Once the allotment process is completed, applicants can check the E to E Transportation Infrastructure IPO allotment status online through the official website of the registrar. MUFG Intime India Private Limited has been appointed as the registrar for the NSE SME IPO. E to E Transportation…

Shares of Vodafone Idea (Vi) climbed more than 2% on Tuesday, December 31, touching a fresh 52-week high amid growing expectations that the Union Cabinet may consider relief on the telecom company’s long-pending adjusted gross revenue (AGR) dues. The stock rose to an intraday high of ₹12.36 apiece during morning trade, marking its highest level in the past year. Trading volumes on the NSE remained strong as investor interest picked up on speculation surrounding a potential policy decision. According to multiple media reports, the Union Cabinet is expected to deliberate on Vodafone Idea’s AGR-related matter. The government is reportedly examining…

Admach Systems SME IPO made a weak debut on the stock market on Wednesday, December 31, with its shares listing at a sharp discount to the issue price. The SME stock opened at ₹191.20 on the BSE SME platform, marking a nearly 20% decline from the IPO issue price of ₹239. However, the stock recovered part of its early losses during the session and moved higher to hit its upper price band of ₹200.75. Despite the rebound, the stock continued to trade around 16% below its issue price. The listing performance fell short of grey market expectations, as informal market…

Even as the Indian stock market remained highly volatile in the latter half of December, shares of TCI Finance moved sharply higher, defying broader market weakness and extending a strong rally marked by consecutive upper circuit hits. The non-banking financial company (NBFC) stock was locked in another 5% upper circuit on Wednesday, December 31, closing at ₹27.36 apiece. With this move, TCI Finance shares have now hit the upper circuit for the tenth straight trading session, according to data available on the NSE. Trading activity remained relatively thin, a common feature in small-cap counters. Around 44,000 shares were traded on…

Silver prices extended losses on Wednesday, marking the final trading session of 2025, as investors booked profits after the white metal delivered a historic rally this year. On the Multi Commodity Exchange (MCX), silver prices plunged 7.5%, or more than ₹18,000 per kg, to settle at ₹2,32,228 per kg. In the international market, COMEX silver hovered near the $71 per ounce mark after touching an intraday low of $70.315, reflecting a sharp 9% decline from the previous session’s close. Gold prices also faced selling pressure. MCX gold slipped a little over 1%, falling by ₹1,550 to ₹1,35,116 per 10 grams.…

Adani Group-owned Navi Mumbai International Airport (NMIA) on Tuesday said passenger traffic at the airport crossed the 25,000-mark within the first five days of the commencement of commercial flight operations. The airport recorded a total of 26,021 passengers, comprising 12,431 arriving and 13,590 departing travellers during the period, reflecting strong demand and steady booking activity since the launch, the operator said in a statement. Passenger volumes peaked over the weekend, with 5,548 passengers on Saturday and 5,614 on Sunday, indicating growing traction among flyers. During the first five days, NMIA handled 162 scheduled air traffic movements, including 81 arrivals and…

The National Highways Authority of India (NHAI) has further reduced its debt by ₹4,721 crore, bringing its total outstanding liabilities down to ₹2.39 lakh crore. The total repayment due in FY26 stands at ₹11,251 crore. This follows a sharp debt reduction of ₹90,634 crore in FY25. With a strong monetisation pipeline in place, NHAI is expected to retire more debt than what matures during the current financial year. Proceeds from highway monetisation through infrastructure investment trusts (InvITs) are being used exclusively for debt repayment. During the current financial year, NHAI plans two rounds of monetisation—one through its private InvIT, National…

The Securities and Exchange Board of India (SEBI) has made it mandatory for compliance officers of Alternative Investment Fund (AIF) managers to obtain certification from the National Institute of Securities Markets (NISM). In a circular issued on Tuesday, SEBI said that compliance officers must clear the NISM Series III-C: Securities Intermediaries Compliance (Fund) Certification Examination. The requirement stems from a notification issued by NISM on November 20, 2025. SEBI clarified that from January 1, 2027, only individuals holding this certification will be eligible to be appointed as compliance officers of AIF managers or continue in the role. This effectively provides…