Author: Legal Parivar

Shreeji Shipping Global’s initial public offering (IPO) witnessed a robust response on its first day of bidding, August 19, as investors placed bids for 2.43 crore shares against the total issue of 1.14 crore shares, resulting in an overall subscription of 2.13 times by the close of Day 1, according to exchange data. Non-institutional investors (NIIs) showed strong interest, with their portion subscribed 3.54 times, while retail investors’ portion was booked 2.13 times. Qualified Institutional Buyers (QIBs) subscribed their portion 1.09 times. The company aims to raise ₹410 crore through the IPO, which is entirely a fresh issue. The price…

Temasek Holdings-backed Onemi Technology Solutions, operating under the brand Kissht, has filed preliminary documents with SEBI to raise capital through an IPO. The funds are intended to strengthen the capital base of its subsidiary, Si Creva, a middle-layer NBFC. The proposed IPO will include a fresh issue of equity shares worth ₹1,000 crore and an offer-for-sale of 88.8 lakh shares by existing investors, according to the draft document filed on August 18. Promoters collectively hold 53.67% of Onemi, including 30.89% owned by Ranvir Singh and Krishnan Vishwanathan. The remaining 46.33% is held by investors such as Temasek (through Vertex), Russia-based…

Classic Electrodes (India) Ltd, a manufacturer specializing in welding electrodes and MIG wires, has set the price band for its upcoming initial public offering (IPO) at Rs 82–87 per share, according to a statement on Monday. The entirely fresh issue of 47.71 lakh equity shares is expected to raise around Rs 41.50 crore. The IPO subscription window is scheduled to open on August 22 and close on August 26, 2025. Following the issue, the company’s shares are planned to be listed on NSE’s SME platform, Emerge, with a tentative listing date of September 1. GYR Capital Advisors has been appointed…

The International Monetary Fund (IMF) has recommended that Pakistan remove the finance secretary from the State Bank of Pakistan (SBP) board and amend a law to revoke the federal government’s authority to direct inspections of commercial banks, according to media reports on Tuesday. The global lender has also urged Islamabad to promptly fill two vacant deputy governor positions at the SBP. The recommendations were outlined in the IMF’s Governance and Corruption Diagnosis Mission report, which appears aimed at enhancing the central bank’s independence, despite the federal government being the SBP’s sole shareholder. This marks the second attempt in three years…

Following the unexpected resignation of Vice President Jagdeep Dhankhar on July 21, citing “medical advice,” the contest for India’s next Vice President is now underway. The NDA has announced Maharashtra Governor CP Radhakrishnan as its candidate, while the INDIA bloc has nominated former Supreme Court judge B Sudershan Reddy. Originally scheduled for 2027, the 17th Vice Presidential election will now be held on September 9. Historically, of the 16 Vice Presidential elections held so far, four were won uncontested, three due to disqualification of rival nominations, and one due to absence of an opponent. Vice President Election Process The Vice…

Shares of BlueStone Jewellery and Lifestyle Ltd surged more than 6% on their first day of trading on Tuesday, bouncing back from a soft opening and offering modest gains to investors in line with pre-listing grey market projections. On the BSE, the stock debuted at ₹508.80, 1.6% below its IPO price, while on the NSE, it opened at ₹510, a 1.4% discount. Following the initial trade, the share price climbed to an intraday high of ₹542 on both exchanges, reflecting gains of 6.5% on the BSE and 6.3% on the NSE from the opening levels. The listing performance closely mirrored…

Shares of Usha Financial Services, a small-cap stock trading below ₹50, surged 8% in intraday trading on Tuesday, August 19, as the stock went ex-bonus in a 1:1 ratio. The stock opened at ₹47.55, above its adjusted price of ₹45.90, and reached a high of ₹49.70 during the session, marking significant intraday gains. Bonus Record Date and AllotmentThe NSE SME-listed company had announced August 19, 2025, as the record date for determining shareholders eligible for the bonus shares. Investors holding shares on this date will receive one additional share for every share held. The bonus shares are set to be…

Indian equity markets extended their winning streak on Tuesday, August 19, driven by optimism over a potential GST rate cut that could boost consumption. The Nifty 50 rose 0.42% to 24,980, while the S&P BSE Sensex gained 0.46% to close at 81,633. Broader markets outperformed the frontline indices, with the Nifty Midcap 100 climbing 1.2% and the Nifty Smallcap 100 up 0.60%. Sector-wise, Nifty Oil & Gas led the rally with a 1.69% increase, followed by Nifty Media, Nifty Auto, and Nifty FMCG, which rose between 1% and 1.39%. Among the top gainers were OLA, Hyundai Motor, Raymond, Reliance Power,…

Indian equities extended their winning streak for a second consecutive session on Tuesday, August 19, driven by expectations that a proposed GST cut could boost consumer spending. The Nifty 50 rose 0.42% to close at 24,980, while the S&P BSE Sensex gained 0.46% to end at 81,633, supported by attractive valuations after a period of market weakness. Broader markets outperformed the frontline indices, with the Nifty Midcap 100 climbing 1.2% and the Nifty Smallcap 100 advancing 0.60%. Sectoral performance was led by the Nifty Oil & Gas index, which surged 1.69%, followed by Nifty Media, Nifty Auto, and Nifty FMCG,…

The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, on Tuesday approved the Airports Authority of India’s (AAI) plan to build a Greenfield airport at Kota-Bundi in Rajasthan, with a total investment of ₹1,507 crore. The airport will be developed on 440 hectares of land provided by the Rajasthan government and will feature a 3,200-metre runway, seven aircraft bays, two link taxiways, and a modern terminal building covering 20,000 sqm. It is designed to handle 1,000 passengers during peak hours and up to 2 million passengers annually, with the capacity to operate A-321 type aircraft. Kota, known…