Author: Legal Parivar

Odisha-based Nilachal Carbo Metalicks, a producer of ferro-alloy grade low ash metallurgical (LAM) coke, will open its initial public offering (IPO) for subscription on September 8, closing on September 10. The company plans to list its shares on the BSE SME platform from September 15, with allotment to be finalized by September 11. The IPO is a fixed price issue with an offer price of Rs 85 per share. The IPO comprises 66 lakh shares, including a fresh issue of 26 lakh shares worth Rs 22.1 crore, and an offer-for-sale of 40 lakh shares worth Rs 34 crore by Kajal…

As the 56th GST Council meeting concluded in Delhi on Wednesday, Jharkhand Finance Minister Radhakrishna Kishore warned that the proposed GST reforms could result in an annual revenue loss of around Rs 2,000 crore for the state. He urged the central government to provide compensation for the estimated shortfall. Kishore highlighted that the revenue loss would primarily impact Jharkhand’s automobile, cement, and other manufacturing sectors. He noted that Jharkhand, being a manufacturing state, has been adversely affected by the GST system, which has weakened its internal revenue collection. “Jharkhand’s per capita income is Rs 1.05 lakh per year. Due to…

The 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, commenced on September 3 and is scheduled to conclude on September 4. The Council is reviewing tax reforms aimed at reducing GST rates on common-use goods and restructuring slabs for various products. Here are 10 key points from the discussions: The Council’s announcements are expected to significantly impact pricing across multiple sectors, ranging from daily essentials to luxury goods, providing relief to consumers while maintaining higher taxes on premium products.

Engineering and manufacturing company Taurian MPS is set to enter the capital markets next week with its first public issue, opening for subscription on September 8, 2025. The offer will close on September 10, with a price band fixed at Rs 162–171 per share. The anchor book for institutional investors will open on September 4, while the IPO allotment is expected to be finalized by September 11. Trading of equity shares on NSE Emerge will commence from September 15. The IPO comprises a fully fresh issue of 24,87,200 equity shares, targeting total proceeds of Rs 42.53 crore. Funds raised will…

IPO Overview: The company may also raise up to Rs 65 crore via a pre-IPO round before the public listing. Use of Proceeds: Business Profile: Financial Performance (FY25): IPO Advisors: This IPO marks Eldorado Agritech’s move to expand operations and strengthen its balance sheet, while offering promoters an opportunity to monetize a portion of their holdings.

Invesco Mutual Fund has received regulatory approval from the Securities and Exchange Board of India (Sebi) to transfer a controlling 60% stake to IndusInd International Holdings Ltd (IIHL), according to sources. Sebi has granted approvals for the proposed change in control of Invesco Asset Management (India) Pvt Ltd (Invesco AMC), Invesco Trustee Company, and the portfolio management services (PMS) business. The regulator has also approved the appointment of new directors to the board of Invesco Trustee Company. Earlier, the Competition Commission of India (CCI) had cleared the acquisition of shares in Invesco AMC and Invesco Trustee by IIHL in August…

Foreign investors (FIIs/FPIs) remained net sellers in Indian equities on September 3, 2025, while domestic institutional investors (DIIs) continued their buying spree, according to provisional stock exchange data. FII–DII Data for September 3 So far in 2025, FIIs have been net sellers worth ₹2.14 lakh crore, while DIIs have been net buyers worth ₹5.20 lakh crore, reflecting continued domestic support for the markets amid foreign outflows. Market Performance on September 3 During the session: Market breadth was positive with 2,415 stocks advancing, 1,333 declining, and 116 unchanged. Sectoral Highlights Metals, pharma, and PSU banks led the gains, while IT stocks…

The Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, has approved a dual-rate structure of 5% and 18%, scrapping the existing 12% and 28% slabs. The decision was taken during the 56th GST Council meeting held on September 3–4, 2025. This move marks a major step towards simplifying India’s indirect tax regime and will be rolled out in the coming weeks, just ahead of the festive season. Major Announcements from the GST Council Meeting 1. Dual-Rate Structure Introduced 2. Relief for Footwear and Apparel 3. Health Insurance & Life-Saving Drugs 4. MSME Registration Made Easier…

Prime Minister Narendra Modi attended the official reception of the Shanghai Cooperation Organisation (SCO) Summit in Tianjin, where he was warmly received by Chinese President Xi Jinping. At the venue, PM Modi exchanged greetings with President Xi and his wife Peng Liyuan, before joining fellow world leaders, including Russian President Vladimir Putin, for the traditional group photograph. The formal sessions of the summit are scheduled to begin on September 1. 🔹 Bilateral Talks with China Earlier in the day, PM Modi held a series of bilateral meetings, including a key discussion with President Xi. According to the Ministry of External…

Online gaming platform Mobile Premier League (MPL) plans to lay off about 60% of its Indian workforce after the government banned paid online games, a company source told Reuters on Sunday. This marks one of the first major corporate reactions to the new law. 🔹 Background 🔹 Impact on MPL 🔹 CEO Statement In an internal email, MPL CEO Sai Srinivas wrote: “With a heavy heart we have decided that we will be downsizing our India Team significantly. We are committed to providing those impacted with every possible support during this transition period… this change would mean that we would…