Author: Legal Parivar

OpenAI, the creator of ChatGPT, is reportedly preparing for an initial public offering (IPO) that could value the company at as much as $1 trillion, according to three people familiar with the matter — potentially making it one of the largest IPOs in history. Sources indicated that OpenAI could file with securities regulators as early as the second half of 2026, though some internal discussions point to a possible 2027 listing. The company is exploring raising around $60 billion or more, though figures and timing remain subject to change based on market conditions and business performance. Chief Financial Officer Sarah…

The government is set to seek legal advice on the Supreme Court’s recent order permitting it to reconsider adjusted gross revenue (AGR) dues — a relief applicable exclusively to Vodafone Idea Ltd and limited to additional AGR demands raised up to FY2016-17. An official familiar with the matter told Moneycontrol that no decision would be taken until legal experts are consulted. “The government is yet to obtain legal advice, and as in any such matter, we will have to consult our legal experts before taking further steps,” the official said on condition of anonymity. Scope of the Supreme Court Order…

Vaibhav Global Limited (VGL), a leading omni-channel retailer of fashion jewellery and lifestyle products, reported a strong set of financial results for the second quarter of FY26, posting double-digit growth across key metrics. According to the company’s exchange filing, revenue rose 10.2% year-on-year to ₹877 crore, surpassing its own guidance. The growth was attributed to a more efficient product mix, disciplined pricing strategies, and improved operational execution, resulting in a 63.5% gross margin. Profit and Margins Expand EBITDA jumped 28% YoY, with margins expanding by 130 basis points to 10%, driven by productivity gains and operating leverage. Net profit for…

US President Donald Trump on Thursday announced a major reduction in tariffs on Chinese goods — from 57% to 47% — following what he called an “amazing” meeting with Chinese President Xi Jinping in South Korea. The talks, which covered trade, technology, rare earths, and the fentanyl crisis, marked the most significant thaw in Washington-Beijing relations since Trump’s return to office. Trump said China would “immediately” begin large-scale purchases of American soybeans and that both nations had reached an extendable one-year agreement on rare earth supplies. “All the rare earth issue has been settled,” Trump said aboard Air Force One,…

The Central Bureau of Investigation (CBI) has alleged that Yes Bank suffered losses exceeding ₹2,700 crore due to the “unilateral decision” of its former CEO and co-founder Rana Kapoor to invest in financial firms linked to Anil Ambani’s ADA Group, according to its latest charge sheet filed last month. The CBI has charged 13 individuals and entities, including Anil Ambani, Rana Kapoor, and Kapoor’s family members, accusing them of criminal conspiracy, cheating, and corruption in connection with loans and investments made between 2017 and 2019. The agency is also investigating the role of Anmol Ambani, Anil Ambani’s son and the…

Shares of Hindustan Petroleum Corporation Ltd (HPCL) gained on Wednesday, October 30, while those of United Breweries Ltd (UBL) declined following their respective Q2 results announcements. HPCL HPCL reported a sharp rise in profit for the September quarter, driven by strong refining margins across its operations.The state-run refiner’s standalone net profit surged over six times to ₹3,830 crore for Q2 FY26, compared to the same period last year. Its gross refining margin (GRM) — the profit earned from converting a barrel of crude oil into finished products — rose to $8.80 per barrel, up from $3.12 per barrel a year…

Shares of Sagility, a healthcare technology services firm catering to U.S.-based clients, jumped over 10% on Thursday after the company raised its FY26 revenue growth forecast to above 21%, up from the earlier estimate of 20%. The company also expressed optimism about a robust second half of FY26, following a strong performance in the September quarter. Strong Earnings Amid U.S. Tariff Policy Changes Sagility reported that its strong quarterly performance came despite the U.S. “normalisation of tariffs” policy, noting that there was no tangible impact on its business. The company said that tariff-driven cost increases for imported medical equipment and…

Helmets manufacturer Studds Accessories witnessed a strong investor response on the first day of its initial public offering (IPO), with the issue subscribed 60% so far. According to NSE data as of 12 p.m. on Thursday, the IPO received bids for 32.43 lakh shares against 54.5 lakh shares on offer. The retail individual investor (RII) category saw the highest interest, with 96% subscription, while non-institutional investors subscribed to 54% of their quota. Earlier, the company raised approximately ₹137 crore from anchor investors ahead of the public issue. Studds Accessories IPO GMP Today In the grey market, Studds Accessories shares are…

As eyewear retailer Lenskart gears up for its ₹7,278 crore initial public offering (IPO), the company enters a pivotal phase that will test whether its blend of convenience, design, and data-driven retail can sustain investor confidence in a public market increasingly focused on profitability. Founded in 2010 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart was born out of Bansal’s observation of India’s fragmented and unorganised eyewear sector. Initially operating as an online contact lens retailer under Valyoo Technologies, it quickly expanded to prescription glasses and sunglasses. Lenskart’s early promise lay in delivering affordable eyewear to consumers’…

State-run Indian Oil Corporation (IOC) has invited initial bids for 24 million barrels of crude oil from suppliers in the Americas for the January–March 2026 quarter, according to a tender document reviewed by Reuters on Thursday. The move comes as Indian refiners temporarily halt new purchases of Russian crude following U.S. sanctions imposed last week on Moscow’s two largest oil producers, prompting several buyers to turn to the spot market for alternative supplies. A source familiar with the matter said that Indian Oil, the country’s largest refiner, issued the tender to assess market interest in sourcing oil from the Americas…