Author: Legal Parivar

Homegrown private equity firm Kedaara Capital has made a $240 million investment in Axtria, an Agentic AI-first data analytics and cloud software company serving the global life sciences industry, the company announced on Tuesday. The transaction, structured as a mix of secondary investment and company-sponsored buyback, will provide liquidity to Axtria’s current and former employees. “At Axtria, we are proud to be building a company that is not only transforming life sciences through data and Agentic AI, but also one that values its people and their contributions through long-term value creation,” said Jaswinder Chadha, President & CEO of Axtria. Sunish…

On Tuesday, Hamas rejected US President Donald Trump’s allegation that the Palestinian militant group was hindering efforts to secure a ceasefire in Gaza. In a statement, Hamas said, “Hamas has never been an obstacle to reaching a ceasefire agreement in the Gaza Strip. The US administration, the mediators, and the entire world know that the war criminal (Israeli Prime Minister Benjamin) Netanyahu is the sole party obstructing all attempts to reach an agreement.” Earlier the same day, Trump, speaking at the UN General Assembly, had accused Hamas of refusing to release hostages held in Gaza and of rejecting a ceasefire.

Italian Prime Minister Giorgia Meloni on Tuesday highlighted India’s potential role in addressing ongoing international conflicts during the 80th United Nations General Assembly (UNGA) session in New York. Speaking to ANI on the sidelines of UNGA about India’s involvement in global crises, including the Russia-Ukraine conflict, Meloni stated, “I think it can play a very important role.” Her remarks come amid heightened tensions between the United States and India over New Delhi’s purchase of Russian oil. US President Donald Trump has criticized India and China for continuing to procure Russian oil, calling them “the primary funders of the ongoing war”…

The All India Federation of Tax Practitioners (AIFTP) has urged the Central Board of Direct Taxes (CBDT) to extend the deadlines for filing income tax returns (ITRs) and tax audit reports for the assessment year 2025-26. A memorandum has been submitted to the CBDT chairman, highlighting multiple challenges faced by taxpayers and professionals, including floods, landslides, technical glitches, and other compliance difficulties. Proposed New Deadlines: Challenges Cited:AIFTP Representation Committee Chairman Narayan Jain noted that several states have been severely impacted by natural disasters, disrupting internet, transport, and power supply, which has made timely filing difficult. The federation also pointed to…

Meta Platforms announced on Tuesday that WhatsApp will roll out a new translation feature to help its over 3 billion users communicate across languages more easily. Initially, translations will support six languages on Android devices and 19 languages on iPhones, with plans to add more in the future. Meta emphasized that privacy is maintained, as all translations occur on users’ devices, meaning WhatsApp cannot access the content of the messages. To use the feature, users can long-press a message and select “Translate” to view it in another language. The feature works across personal chats, group conversations, and channel updates. Additionally,…

Mumbai-based Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has filed preliminary papers with SEBI to raise ₹660 crore through an initial public offering (IPO). The proposed IPO is a fresh issue of equity shares with no offer-for-sale component, according to the draft red herring prospectus (DRHP) filed on Monday. The company is also considering a pre-IPO placement of ₹130 crore, which, if completed, would reduce the size of the fresh issue proportionately. Use of Proceeds: Purple Style Labs offers a curated portfolio of approximately 2.12 lakh SKUs across women’s wear, men’s wear, fine jewellery,…

Chennai-based multi-modal logistics solutions provider Glottis has filed its red herring prospectus with the Registrar of Companies on September 22, paving the way for its initial public offering (IPO) set to open on September 29. The company will raise ₹160 crore through a fresh issue of shares, while promoters Ramkumar Senthilvel and Kuttappan Manikandan will offload 1.1 crore shares via an offer-for-sale (OFS). The price band will be announced on September 24. The IPO’s anchor book for institutional investors will open on September 26, while the public subscription window will run from September 29 to October 1. Allotment of shares…

Food and grocery delivery platform Swiggy has exited its investment in bike taxi startup Rapido, selling its entire 12 percent stake for ₹2,399 crore to existing investors Prosus and Westbridge Capital, the company informed the exchanges on September 23. Prosus acquired shares worth ₹1,968 crore ($223 million), while Westbridge picked up the remaining ₹431.5 crore ($49 million). Swiggy had earlier indicated plans to divest its holding due to a potential conflict of interest, as Rapido expanded into the food delivery space. Sources said the latest deal is a complete secondary transaction. Rapido is also expected to raise a fresh primary…

On September 23, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹3,551 crore, according to provisional exchange data. In contrast, domestic institutional investors (DIIs) remained net buyers, purchasing shares worth ₹2,671 crore. During the session, DIIs bought equities worth ₹13,526 crore and sold ₹10,855 crore. Meanwhile, FIIs purchased shares worth ₹12,222 crore but exited positions worth ₹15,773 crore. For the year to date, FIIs have been net sellers with total outflows of ₹2.27 lakh crore. DIIs, on the other hand, have consistently supported the markets, recording net investments of ₹5.54 lakh crore. Market PerformanceThe Sensex slipped 58…

Epack Prefab Technologies, a leading provider of pre-engineered steel buildings and prefabricated structures, has raised ₹151.2 crore from 10 anchor investors ahead of its initial public offering (IPO), scheduled to open on September 24. Whiteoak Capital emerged as the largest investor, subscribing to 29.41 lakh shares worth ₹60 crore across six schemes. Other prominent investors in the anchor book include Morgan Stanley, 360 ONE, LC Pharos Multi Strategy Fund, Nuvama, Citigroup Global, and Sameeksha India. In its filing with the exchanges, the company confirmed the allotment of 74,11,764 equity shares to anchor investors at ₹204 per share. Of this, 28,43,204…