Author: Legal Parivar

Online Gaming Bill Becomes Law President Droupadi Murmu on Friday, August 22, 2025, gave her assent to the Promotion and Regulation of Online Gaming Bill, after it was passed by the Rajya Sabha on Wednesday, August 21. The bill aims to regulate online gaming in India and curb the proliferation of money-based online gaming platforms. Key Provisions of the Law The law applies to operators, promoters, and advertisers of online money-gaming platforms across India. Implications for the Gaming Industry The enactment of the Online Gaming Bill marks a significant step in the government’s effort to regulate digital gaming and protect…

Vikran Engineering IPO – Key Highlights The initial public offering (IPO) of Vikran Engineering will open for subscription on Tuesday, August 26, 2025. The company plans to raise ₹772 crore through the issue, with the price band fixed at ₹92–97 per share. The IPO structure includes: The proceeds will primarily be used for working capital requirements and general corporate purposes. Grey Market Premium (GMP) Trend Ahead of the bidding, Vikran Engineering shares are trading at a GMP of ₹22 per share, reflecting strong investor appetite. IPO Details for Investors Lead Manager: Pantomath Capital Advisors Pvt. Ltd.Registrar: Bigshare Services Pvt. Ltd.…

Sugs Lloyd IPO – Key Highlights Noida-based Sugs Lloyd Ltd, a power infrastructure and renewable energy solutions provider, is set to launch its maiden public issue on August 29, 2025. The company has fixed the price band at ₹117–123 per share and aims to raise ₹85.66 crore at the upper end of the range. The issue will comprise 69.64 lakh fresh equity shares, meaning the entire proceeds will go to the company. IPO Objectives Sugs Lloyd intends to deploy the IPO proceeds as follows: Company Overview – Sugs Lloyd Ltd Founded in 2009, Sugs Lloyd operates in the renewable energy…

Girish Kousgi to Join IIFL Home Finance as CEO Girish Kousgi, a mortgage industry veteran and currently the Chief Executive Officer of PNB Housing Finance, is set to take over as the CEO of IIFL Home Finance, a subsidiary of IIFL Finance. He will replace Monu Ratra, who stepped down as Executive Director and CEO on August 14, 2025. This marks the first major leadership change at IIFL Home Finance since the Abu Dhabi Investment Authority (ADIA) acquired a 20% stake in June 2022. IIFL Home Finance – Market Leader in Affordable Housing As of June 30, 2025, IIFL Home…

The Securities and Exchange Board of India (Sebi) is exploring measures to regulate the grey or parallel market, where shares of unlisted companies such as NSE, Chennai Super Kings, Cochin International Airport, and Mohan Meakins are traded unofficially. The proposed framework aims to facilitate price discovery for unlisted companies before their shares are officially listed on stock exchanges and to boost tax revenue for the government. India has emerged as one of the top IPO markets globally, with $2.8 billion raised in Q1 2025, despite global economic uncertainties. Speaking at an industry event, Sebi chairman Tuhin Kanta Pandey highlighted that…

US-based semiconductor company Microchip Technology, through its Indian subsidiary Microchip Technology India, has purchased 1.72 lakh sq ft of office space in Whitefield for ₹176 crore, marking one of the largest office space acquisitions in the city this quarter. According to the registered sale deed accessed via Propstack, the deal includes two commercial blocks located at 170-172, Phase 2, EPIP Zone, Whitefield. The seller, Ascendum Solution India, is part of Cincinnati-based Vora Group, which has interests in IT services, business solutions, and real estate. The office blocks measure 92,098 sq ft and 80,395 sq ft, each featuring a basement, ground…

Walmart-owned Flipkart and Amazon have started discussions with leading brands on how to manage the potential impact of a proposed GST reduction. The ecommerce majors fear that consumers could delay purchases in anticipation of lower prices, particularly for high-value categories like electronics. The timing is crucial as the platforms gear up for their flagship festive sales in September, which are the biggest annual events for online marketplaces. These sales typically begin just before Navratri and contribute nearly half of festive ecommerce revenues in India. The GST Council is expected to meet in the third week of September to finalise new…

In a fresh development, Foxconn subsidiary Yuzhan Technology has sent back around 300 Chinese engineers from its India facility, people familiar with the matter told ET. This marks the second instance in recent months where the Taiwanese contract manufacturer has recalled Chinese staff from India. Earlier in July, Foxconn had also withdrawn a similar number of Chinese engineers and technicians from its iPhone manufacturing units in India. Yuzhan Technology is currently setting up a ₹13,180 crore ($1.5 billion) display module assembly unit in Tamil Nadu, a key part of Apple’s supply chain diversification strategy as more iPhone production shifts out…

Meta Platforms has entered into a massive cloud computing deal with Google worth more than $10 billion over six years, according to a source familiar with the development. The agreement, first reported by The Information and later confirmed to AFP, will see Meta relying on Google’s datacenter servers, storage, networking, and related cloud services. While Meta declined to comment on the deal, it comes as CEO Mark Zuckerberg doubles down on artificial intelligence investments, aiming to build what he describes as “AI superintelligence.” Over the past year, Meta has aggressively hired AI talent from rivals like OpenAI and Apple, while…

Patel Retail Ltd is set to finalise the share allotment for its initial public offering (IPO) today, Friday, August 22. Investors who applied can check their IPO allotment status on the registrar’s portal, Bigshare Services Pvt Ltd. According to BSE data, Patel Retail IPO witnessed strong demand with a subscription of 95.70 times by the close of bidding on August 21. The issue had opened on August 19 and closed on August 21. Applicants can review the allocation details online to confirm whether shares have been allotted to them. Successful applicants will see the allotted shares reflected in their demat…