Author: Legal Parivar

India’s largest power distribution utility, Maharashtra State Electricity Distribution Co Ltd (MSEDCL), is planning to refinance at least 50% of its ₹98,000-crore debt as part of a broader balance-sheet overhaul ahead of a proposed initial public offering (IPO) within the next 12 months, managing director Lokesh Chandra said in a recent interview. To strengthen its financial position ahead of the listing, the utility has already raised ₹12,800 crore from State Bank of India (SBI) to replace high-cost borrowings with loans at more competitive interest rates. Debt Pressure and Agricultural Arrears The restructuring effort is aimed at easing MSEDCL’s annual debt-servicing…

The initial public offering (IPO) of E to E Transportation Infrastructure Ltd opened for subscription on December 26 and will remain open until December 30, 2025. The company has fixed the price band for the issue at ₹164 to ₹174 per share. The ₹84-crore public issue, which is entirely a fresh issue, is proposed to be listed on the NSE SME Emerge platform. Hem Securities Limited is acting as the Book Running Lead Manager to the issue. Subscription Status (Day 1) As of 12:58 PM on the first day of bidding, the IPO had been subscribed over 2 times. Grey…

Shares of Titan Company rose more than 2% on December 26 after the Tata Group firm announced its entry into the lab-grown diamond jewellery segment with the launch of a new brand, ‘beYon’. The stock climbed to a fresh 52-week high of ₹4,006.90 per share, snapping a two-session losing streak and reflecting positive investor response to the announcement. Titan to Launch ‘beYon’ Brand In an exchange filing dated December 26, Titan said it will introduce ‘beYon – from the House of Titan’, with its first exclusive retail store set to open in Mumbai on December 29. The new brand will…

The share allotment for the Gujarat Kidney and Super Speciality Ltd IPO is expected to be finalised later on December 26, following strong investor interest that led the issue to be subscribed 5.21 times. The ₹251-crore initial public offering was open for subscription from December 22 to December 24. The healthcare company had fixed a price band of ₹108 to ₹114 per share. Ahead of the IPO opening, Gujarat Kidney raised ₹100 crore from anchor investors. Once finalised, investors can check their IPO allotment status on the website of the official registrar, MUFG Intime India Pvt Ltd (formerly Link Intime…

Indian equity benchmarks Sensex and Nifty 50 closed marginally lower on Wednesday, December 24, as investors booked profits in select heavyweight stocks such as Reliance Industries and ICICI Bank, amid mixed global cues. The Sensex slipped 116 points, or 0.14%, to close at 85,408.70, while the Nifty 50 declined 35 points, or 0.13%, to settle at 26,142.10. Broader markets also ended weak, with the BSE Midcap index falling 0.37% and the Smallcap index easing 0.14%. Market movement remained range-bound throughout the session, with sectoral trends mixed. Profit-taking was seen in select IT, pharma and FMCG stocks, while realty and metal…

The India Meteorological Department (IMD) on Friday issued red and orange alerts for several districts in Uttar Pradesh, warning of very dense to dense fog that could severely reduce visibility. In a post on X, the weather department said a Red Alert has been issued for districts likely to experience very dense fog with visibility dropping below 50 metres. The districts under the red alert include Ambedkar Nagar, Amethi, Ayodhya, Azamgarh, Bahraich, Barabanki, Bareilly, Deoria, Jaunpur, Kanpur, Kaushambi, Kushinagar, Maharajganj, Mirzapur, Moradabad, Pratapgarh, Prayagraj, Raebareli, Rampur, Saharanpur, Sant Ravidas Nagar (Bhadohi), Shrawasti, Sultanpur and Varanasi. The IMD has also issued…

The Reserve Bank of India (RBI) has announced the final redemption price for the Sovereign Gold Bond (SGB) 2017–18 Series XIII, delivering strong returns to long-term investors amid a sharp surge in gold prices. The bond tranche is completing its full eight-year maturity this week, and investors will receive the redemption proceeds directly in their bank accounts. Maturity date and tranche details According to the government notification issued under the Sovereign Gold Bond Scheme, the SGB 2017–18 Series XIII—originally issued on December 26, 2017—will mature on December 26, 2025. Sovereign Gold Bonds have a fixed maturity of eight years, after…

Indian Railways on Thursday announced a revision in passenger fares, with the new rates coming into force from Friday, December 26. This marks the second fare increase in 2025, following an earlier hike implemented in July. According to the revised fare structure, ticket prices will rise by 1 paise per kilometre for second-class ordinary travel beyond 215 km, while non-AC classes of mail and express trains and all AC classes across trains will see an increase of 2 paise per kilometre, the Railway Ministry said. Reason Behind the Fare Revision The Ministry stated that the fare rationalisation aims to strike…

Telecom major Vodafone Idea is expected to be in focus on Friday, December 26, after the company received two GST penalty orders from tax authorities in Mumbai and Bengaluru, totaling over ₹83 crore, according to its regulatory filing. The Deputy Commissioner of State Tax, Andheri Division, Mumbai, issued a penalty of ₹79.56 crore along with applicable demand and interest, related to alleged additional charges on license fees and spectrum usage for FY 2018–19. Meanwhile, the Office of the Principal Commissioner of Central GST, Domlur Commissionerate, Bengaluru, confirmed a penalty of ₹3.58 crore, concerning alleged short payment of tax and excess…

India’s primary equity market reached an all-time high in 2025, with companies raising a record Rs 1.95 trillion through over 365 initial public offerings (IPOs), marking the strongest year ever for fundraising, according to a Motilal Oswal Financial Services report. This milestone follows an already robust 2024, which saw Rs 1.90 trillion mobilised through 336 IPOs. Together, the last two years have witnessed Rs 3.8 trillion raised via 701 IPOs, far surpassing the Rs 3.2 trillion collected over the entire five-year period from 2019 to 2023. Mainboard Dominates IPO FundraisingMainboard listings continued to lead the capital-raising activity, accounting for 94%…