Author: Legal Parivar

Payment solutions firm Seshaasai Technologies received a strong response from anchor investors, mobilising ₹243.3 crore on September 22, a day before its maiden public issue opens for public subscription. The company’s ₹813.07 crore IPO will be open from September 23 to 25, with allotment finalisation scheduled for September 26. Seshaasai shares are set to debut on the BSE and NSE from September 30. According to its stock exchange filing, the firm allocated 57,52,296 equity shares to anchor investors at ₹423 per share. Among the largest institutional investors were Nippon Life India and ICICI Prudential Mutual Fund, each subscribing to 5.91…

Rail Vikas Nigam Limited (RVNL) has emerged as the lowest bidder (L1) for a new Southern Railway project worth ₹145.34 crore, marking its second order this month. The regulatory filing states that the project includes the design, supply, erection, testing, and commissioning of traction substations, equipped with power quality compensating devices, SCADA, and Automatic Fault Locator (AFL) systems for the Salem division’s 2×25 kV AT Feeding System. The project is expected to be completed within 540 days and supports a 3,000 MT loading target. Earlier this month, RVNL had secured a ₹169.48 crore order from West Central Railway on September…

Chipmaker Nvidia announced on Monday a new strategic partnership with OpenAI, under which it plans to invest up to $100 billion in the artificial intelligence startup. The collaboration aims to train and deploy OpenAI’s future models as the company advances toward superintelligent AI. The first phase of deployment is expected in the second half of 2026, leveraging Nvidia’s Vera Rubin platform. The partnership will enable 10 gigawatts of compute power, marking a significant expansion of AI infrastructure for both firms. Statements from Leadership Under the agreement, OpenAI will designate Nvidia as its preferred strategic compute and networking partner for expanding…

Cryptocurrencies faced a sharp downturn on Monday, with traders losing over $1.5 billion in bullish bets, marking the largest liquidation event since March 27. The selloff sent Ether (ETH) and other tokens tumbling, pushing the total digital-asset market capitalization below $4 trillion, according to CoinGecko data. Ether and Bitcoin Performance Market Momentum and Digital-Asset TreasuriesThe recent crypto surge, which propelled Bitcoin and Ether to all-time highs in August, was largely driven by public companies establishing digital-asset treasuries. However, this momentum appears to be fading, as shares of treasury-focused firms—from Michael Saylor’s Strategy to Japan’s Metaplanet—have retreated. George Mandres, senior trader…

Digital payments firm PhonePe posted revenue exceeding ₹7,000 crore for FY25 and reduced its losses compared to the previous fiscal, according to filings with the Ministry of Corporate Affairs (MCA). On a consolidated basis, revenue from operations rose 41% to ₹7,148.6 crore in FY25 from ₹5,064.1 crore in FY24. Including other income, total revenue increased to ₹7,631.4 crore, up from ₹5,722 crore the previous year. Expenses grew by 21% to ₹9,394.1 crore, slower than the revenue growth, resulting in a consolidated loss after tax narrowing to ₹1,727.4 crore, from ₹1,996.2 crore in FY24. The company reported other comprehensive income of…

The Staff Selection Commission (SSC) is conducting the MTS (Multi-Tasking Staff) and Havaldar Recruitment 2025 to fill a total of 8,021 vacancies across India. While the computer-based exams were initially scheduled between September 20 and October 24, 2025, candidates are still waiting for the release of admit cards and exam city details, as no update has yet been posted on the official website ssc.gov.in. This delay has led to speculation about possible rescheduling of the exam dates. In a notice issued on September 10, 2025, the SSC provided a tentative vacancy breakdown: The Computer-Based Examination will be conducted in Hindi,…

External Affairs Minister Dr. S. Jaishankar met US Secretary of State Marco Rubio on September 22 on the sidelines of the 80th UN General Assembly (UNGA) session in New York. The leaders engaged in bilateral discussions at Lotte New York Palace, coinciding with India-US talks aimed at an early conclusion of a trade agreement. Jaishankar arrived in New York on September 20 and is scheduled to hold several bilateral and multilateral meetings, including delivering India’s national statement during the General Debate on September 27. This was the first face-to-face meeting between Jaishankar and Rubio after the Trump administration imposed an…

IT major Tata Consultancy Services (TCS) announced on September 22 that its board will meet on October 9, 2025, to approve and take on record the audited standalone financial results for the quarter and six-month period ending September 30, 2025, under Indian Accounting Standards (Ind AS). The board is also expected to consider declaring a second interim dividend for FY26. If approved, the dividend will be paid to shareholders whose names appear on the Register of Members or in the depository records as of the record date, Wednesday, October 15, 2025. For context, TCS had posted a 6% rise in…

The initial public offering (IPO) of Atlanta Electricals Ltd, a manufacturer of power, auto, and inverter-duty transformers, was 97% subscribed on the first day of bidding on Monday, according to NSE data. Bidders placed orders for 63,51,928 shares against the 65,38,439 shares on offer. The Qualified Institutional Buyers (QIBs) and non-institutional investors categories were fully subscribed, while the Retail Individual Investors (RIIs) segment recorded 95% subscription. The company had earlier raised ₹205 crore from anchor investors. Atlanta Electricals’ ₹687-crore IPO is set to close on September 24, with a price band of ₹718–₹754 per share, valuing the company at roughly…

Bihar-based BMW Ventures, a steel products distributor, has set the price band for its initial public offering (IPO) at ₹94–₹99 per share as of September 22. The IPO, comprising entirely fresh equity shares, is scheduled for subscription from September 24 to 26. The company aims to raise ₹231.66 crore through the issuance of 2.34 crore shares. Proceeds from the IPO will primarily be used for working capital requirements (₹173.75 crore), with the balance earmarked for general corporate purposes. BMW Ventures, which also engages in trading of tractor engines and spare parts, manufacturing of PVC pipes, and fabrication of pre-engineered buildings…