Author: Legal Parivar

August 5: The Government of India informed Parliament that 60 India-bound merchant vessels safely transited the Strait of Hormuz during the recent Gulf crisis, while 3,972 Indian seafarers were successfully repatriated from the region amid heightened geopolitical tensions. The Ministry of Ports, Shipping and Waterways said authorities maintained continuous coordination with shipping companies, Indian missions abroad, and the families of seafarers to ensure their safety throughout the crisis. Dedicated welfare counsellors were also made available wherever required. In cases involving fatalities, the government said it facilitated immediate financial assistance, including the release of ₹10 lakh to eligible families under the…

August 5: The Government of India has successfully raised ₹31,552 crore through its Offer for Sale (OFS) in Life Insurance Corporation of India (LIC), making it the largest public offering in India’s history, the Department of Investment and Public Asset Management (DIPAM) announced on Wednesday. The two-day OFS witnessed strong participation from institutional and retail investors, prompting the government to exercise its entire green shoe option, significantly increasing the offer size beyond the base issue. The stake sale is a key milestone in the government’s disinvestment programme and helps LIC move closer to meeting SEBI’s minimum public shareholding (MPS) requirement…

August 5: The Government of Singapore offloaded a 2.93% stake in IndiGrid Infrastructure Trust through block deals worth approximately ₹486 crore, with domestic institutional investors and asset management companies emerging as key buyers. The transaction reflects continued investor interest in India’s infrastructure investment trust (InvIT) space. According to market data, the Government of Singapore sold around 2.73 crore units of IndiGrid through open market block deals. Despite the large transaction, IndiGrid Infrastructure Trust units ended 0.21% higher at ₹177.38 on the NSE, supported by strong buying interest and heavy trading volumes. The block deal was primarily absorbed by domestic institutions…

August 5: Sterlite Technologies Ltd (STL) has secured a **long-term international supply agreement worth approximately USD 210 million from a leading global telecom infrastructure company, strengthening its position in the global optical networking market. The company disclosed the development to stock exchanges under Regulation 30 of the SEBI (LODR) Regulations, 2015. Key Order Details According to the filing: The agreement covers the supply of high-density optical fiber cables, which play a crucial role in expanding high-speed broadband, 5G networks, and next-generation telecom infrastructure worldwide. Boost for STL’s Global Business The latest international contract reinforces Sterlite Technologies’ growing presence in global…

August 5: Anawil Wire & Engineering Ltd’s maiden public issue witnessed overwhelming investor demand, with the ₹177.8 crore IPO being subscribed 138.72 times on the final day of bidding, reflecting strong interest across retail, institutional, and high-net-worth investor categories. The Gujarat-based manufacturer of windmill towers and precision steel components is raising funds through a fresh issue of 65.85 lakh equity shares, with a price band of ₹257–270 per share. Subscription Break-up Investor participation remained robust across all categories: Investors placed bids for 65.33 crore shares against an offer size of 47.1 lakh shares, with applications worth nearly ₹17,641 crore at…

August 5: Pace Digitek Ltd reported a strong start to FY27, posting robust growth in revenue and profit for the quarter ended June 30, 2026. The integrated telecom and energy infrastructure company reported a 51.3% year-on-year (YoY) jump in revenue from operations to ₹555.4 crore, while net profit (PAT) increased 14.3% YoY to ₹62.5 crore, supported by strong execution across its Energy and Telecom & ICT businesses. The company also announced that its executable order book has reached ₹10,803.3 crore, providing strong revenue visibility for the coming quarters. Pace Digitek Q1 FY27 Financial Highlights BESS Business Drives Growth Pace Digitek…

August 5: State-owned Oil India Ltd (OIL) has informed stock exchanges about key developments in two major tax litigations after recent proceedings before the Supreme Court of India, including significant relief in a long-pending ₹2,484.81 crore Assam land tax dispute. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Supreme Court Disposes ₹2,485 Crore Assam Land Tax Case In a major development, the State of Assam informed the Supreme Court that it intends to withdraw the specific land tax imposed on mineral oil by introducing an appropriate bill in the State Legislature.…

August 5: Logistics technology platform Shiprocket is set to launch its ₹1,617.5 crore Initial Public Offering (IPO) on August 12, marking another major listing in India’s active primary market. The Gurugram-based e-commerce enablement company has reduced the size of its public issue from the amount proposed earlier in its updated draft papers. Shiprocket IPO Details The IPO comprises: The price band for the IPO is expected to be announced on August 6. Issue Size Reduced Shiprocket has reduced its IPO size to ₹1,617.5 crore, down from the ₹2,342.3 crore proposed earlier in its updated draft red herring prospectus (UDRHP), reflecting…

August 5: PB Fintech Ltd, the parent company of Policybazaar and Paisabazaar, reported a strong set of earnings for the June quarter (Q1 FY27), with consolidated net profit surging 92% year-on-year (YoY) to ₹163 crore, driven by robust growth in its insurance and lending businesses. The company’s revenue from operations increased 40% YoY to ₹1,888 crore, compared with ₹1,348 crore in the corresponding quarter last year. However, on a sequential basis, both profit and revenue moderated. Net profit declined from ₹261 crore in Q4 FY26, while revenue eased from ₹2,061 crore. Insurance Business Drives Growth PB Fintech continued to benefit…

New Delhi, August 5: In a significant move aimed at improving road safety and ensuring better compensation for accident victims, the Supreme Court has directed that all new cars must carry four years of mandatory third-party motor insurance, while new two-wheelers will require six years of compulsory cover. The directive extends the existing long-term insurance period by one year for each category. Previously, new cars were required to have three years of mandatory third-party insurance and new two-wheelers five years, following the Supreme Court’s 2018 order. The latest decision seeks to reduce the number of uninsured vehicles on Indian roads…