Author: Legal Parivar

The initial public offering (IPO) of Orkla India Ltd, the parent company of MTR Foods, received overwhelming investor interest, with the issue seeing strong subscription across all investor categories. The IPO subscription window was open from October 29 to October 31, and attention now turns to the Orkla India IPO allotment date, expected on November 3, 2025, while the listing on both the BSE and NSE is likely to take place on November 6, 2025. Since November 1 and 2 fall on a weekend, the share allotment status is expected to be finalised early next week. Once the allotment process…

Hindustan Unilever Ltd (HUL), the Indian subsidiary of UK-based Unilever Plc, announced on Friday that it has received a tax demand notice worth ₹1,986 crore from the Income Tax Department. The notice pertains to FY 2020–21 and disputes the valuation of certain related-party transactions as well as some depreciation claims made by the company. In a regulatory filing, HUL stated, “The tax authorities have made transfer pricing adjustments in the nature of disallowance of payments to related parties or challenged the valuation of such related-party payments and corporate tax disallowances in the nature of depreciation claimed.” The company confirmed that…

Bitcoin, the world’s largest cryptocurrency, is on track to end October with a nearly 5% decline, as global market volatility and fading risk appetite have weighed on digital asset performance. The month witnessed one of the largest crypto liquidations in history, triggered after U.S. President Donald Trump announced a 100% tariff on Chinese imports and threatened export restrictions on key software. Bitcoin tumbled to $104,782.88 between October 10–11, just days after reaching a record high above $126,000. The sharp sell-off underscored the asset class’s volatility, with even major tokens like bitcoin and ether seeing 10% intraday declines. October ends with…

Promoter Tenneco Mauritius Holdings has sold a 2.75% equity stake in Tenneco Clean Air India, the Gurugram-based automotive components manufacturer, which is preparing for a ₹3,000 crore initial public offering (IPO). The secondary share sale, executed on October 30, values the company at ₹16,023 crore. As per the public notice to investors, Tenneco Mauritius transferred 1.1 crore shares for ₹440 crore, at ₹397 per share, to 14 institutional investors. Following the transaction, the promoter’s holding declined to 82.69% from 85.43%. Among the investors, 360 ONE Special Opportunities Fund emerged as the largest buyer, acquiring 18.89 lakh shares (0.47% stake) for…

Bengaluru-based logistics firm Shadowfax Technologies, backed by Flipkart, TPG, and Qualcomm, has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) on October 31, aiming to raise up to ₹2,000 crore through an initial public offering (IPO). According to the filing, the IPO will comprise a fresh issue of shares worth ₹1,000 crore and an offer-for-sale (OFS) of shares amounting to ₹1,000 crore by existing investors. The selling shareholders in the OFS include Flipkart Internet (Walmart-owned), Eight Roads Investments Mauritius, TPG’s NewQuest Asia Fund, Nokia Growth Partners, International Finance Corporation, Mirae Asset,…

Denmark-based pharmaceutical giant Novo Nordisk has completed notifying most of its employees impacted by the ongoing global restructuring initiative, CEO Mike Doustdar announced on Friday, October 31, 2025. Doustdar said the pace of notifications varied across countries due to local legal requirements but emphasized that the company aimed to handle the process with “transparency and respect.” “We have now notified impacted colleagues in the vast majority of our geographies, though the pace varies according to differences in local laws. In all our interactions, we have always sought to operate with transparency and respect,” Doustdar stated in a LinkedIn post. He…

As the US earnings season unfolds, the world’s top tech giants — Microsoft, Amazon, Alphabet, and Meta — have made it clear to Wall Street that Artificial Intelligence (AI) is their next major growth engine. Collectively, the four companies plan to spend an unprecedented $380 billion in 2025 to strengthen their AI infrastructure and capabilities. The surge in spending reflects the industry’s race to capture what leaders describe as “limitless demand” for AI-driven services. Each company has lifted its capital expenditure (capex) guidance, signaling aggressive investments in data centers, chips, and cloud platforms. Amazon Bets Big on AI Amazon’s Chief…

HDFC Bank has placed two senior executives on leave amid an internal probe into alleged mis-selling of Credit Suisse Additional Tier 1 (AT1) bonds. The investigation follows complaints that the high-risk instruments were sold to clients without proper disclosure of their inherent risks. What Are AT1 Bonds? AT1, or Additional Tier 1 bonds, are perpetual, high-risk debt instruments issued by banks to strengthen their capital base under Basel III regulations. These bonds have no fixed maturity and rank below all other forms of debt in repayment priority but above equity. Funds raised through AT1 bonds help banks absorb potential losses…

Gold prices in India witnessed a sharp rally in October 2025, supported by strong festive demand, the US Federal Reserve’s rate cut, and robust central bank buying. Despite recent volatility, the yellow metal delivered an impressive performance, making October one of the best months of the year for gold investors. On the Multi Commodity Exchange (MCX), gold prices climbed nearly 5%, touching a record high of ₹1,32,294 per 10 grams, while silver gained about 5% to ₹1,70,415 per kg. The upward movement was driven by increased Diwali purchases, safe-haven buying amid global market uncertainty, and heavy central bank accumulation led…

The Institute of Chartered Accountants of India (ICAI) has proposed a significant expansion of professional opportunities for Chartered Accountants (CAs), including raising the cap on statutory audits from 30 firms to 40 firms and easing several practice-related restrictions. According to the draft Code of Ethics recently issued by the institute, the move would allow CAs to audit up to 40 entities — including companies, limited liability partnerships (LLPs), and partnership firms — compared to the current limit of 30. The ICAI has also proposed to permit auditors to conduct non-educational seminars, advertise under relaxed norms, and take up additional non-audit…