Author: Legal Parivar

Indian equity benchmarks closed on a strong note Monday, lifted by optimism around the proposed goods and services tax (GST) restructuring and the recent sovereign ratings upgrade for the country. Temporary relief measures on Russian oil imports also supported the mood. The Nifty 50 advanced 245.65 points, or 1%, to end at 24,876.95, marking its best single-day gain since May 23. The Sensex rose 0.83% to settle at 81,273.75. Buying was seen across consumption-driven sectors. Nifty Auto surged 4.18%, while Nifty Consumer Durables and Nifty Realty gained 3.38% and 2.17%, respectively. The government’s proposal to reduce GST slabs from four…

Zerodha co-founder and prominent investor Nikhil Kamath has made a fresh bet on India’s clean energy sector, investing ₹137 crore in Gujarat-based Goldi Solar, a photovoltaic (PV) module manufacturer. The size of the stake acquired has not been disclosed, according to a PTI report. Goldi Solar said the capital infusion will support its expansion plans. Commenting on the deal, Kamath noted that India’s renewable sector holds “massive opportunity” to create global-scale companies. “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground,” Kamath said. Goldi…

Mumbai-based essential oils maker Gem Aromatics has raised ₹135.37 crore from anchor investors ahead of its IPO opening on 19 August 2025. The company allotted 41.65 lakh shares at ₹325 apiece, according to a BSE filing. Top investors in the anchor round include Citigroup Global, Societe Generale, Goldman Sachs, Nippon India, SageOne, Nuvama, and Niveshaay Sambhav Fund. Among them, Nippon India (22.16%), SageOne (11.08%), and Nuvama (7.39%) secured the highest allocations. Notably, no shares were allotted to mutual funds. As of 18 August, the grey market premium (GMP) stood at ₹28 per share, implying a potential listing price of ₹353,…

New Delhi: Russian President Vladimir Putin spoke with Prime Minister Narendra Modi on Monday, briefing him on his recent meeting with US President Donald Trump in Alaska. According to a statement from the Prime Minister’s Office (PMO), Modi reiterated India’s consistent stance that the Ukraine conflict must be resolved through peaceful means, reaffirming support for all diplomatic efforts toward that goal. The two leaders also discussed key aspects of bilateral cooperation, underscoring the strength of the India–Russia strategic partnership. Taking to X (formerly Twitter), Modi said:“Thank my friend, President Putin, for his phone call and for sharing insights on his…

GMR Airports Limited announced on Monday that its Board of Directors will meet on Thursday, August 21, 2025, to consider a proposal for raising up to ₹5,000 crore. Fundraising Details According to the stock exchange filing, the fundraising will be taken up through an enabling resolution, giving the company flexibility to raise capital in one or more tranches. Possible instruments under consideration include: The proposal, once cleared by the board, will be recommended to shareholders for approval, subject to necessary statutory and regulatory permissions. Strategic Purpose GMR said the move is aligned with its broader financing strategy aimed at strengthening…

Telecom operator Vodafone Idea (Vi) is exploring non-banking sources of capital to support its ongoing capex cycle, as talks with banks remain slow due to uncertainty over adjusted gross revenue (AGR) dues. Outgoing CEO Akshaya Moondra made the remarks during the company’s June-quarter earnings call on August 18. Looking Beyond Banks for Funding Moondra said while negotiations with lenders have picked up following the government’s conversion of ₹36,950 crore dues into equity and a subsequent credit rating upgrade, banks remain cautious until AGR clarity emerges. “Given our focus on maintaining capex continuity since last year, we are evaluating non-bank funding…

Apple has signed a 10-year lease agreement for nearly 2.7 lakh sq ft of premium office space in Bengaluru, in a deal valued at about ₹1,010 crore, according to documents accessed by Propstack . Key Lease Details: Apple’s Retail Expansion in Bengaluru Alongside its office lease, Apple is preparing to launch its third India retail store at Phoenix Mall of Asia in north Bengaluru. The company has leased around 8,000 sq ft from Sparkle One Mall Developers under a 10-year deal, with an annual rent of ₹2.09 crore. The lease was registered in November 2024, with rent payments starting in…

The Securities and Exchange Board of India (SEBI) has proposed major changes to ease stake dilution and extend timelines for meeting the Minimum Public Shareholding (MPS) norms in large initial public offerings (IPOs). According to a consultation paper released on Monday, SEBI suggested new thresholds and timelines based on post-issue market capitalization. This move comes after inputs from its Primary Market Advisory Committee and internal deliberations. Why the Relaxation? SEBI noted that mega IPOs pose challenges for both issuers and the market due to the size of stake dilution required. Large, profitable companies—especially those with strong reserves but limited capital-raising…

Chinese Foreign Minister Wang Yi will begin a two-day visit to India on Monday for a fresh round of high-level talks aimed at strengthening confidence-building measures along the India-China border. The visit comes as both countries seek to repair strained ties following the deadly Galwan Valley clashes in 2020. Wang will hold discussions with National Security Advisor Ajit Doval, the Indian special representative for boundary talks, to review the situation along the Line of Actual Control (LAC) and explore steps for durable peace and stability. Despite partial disengagement at several friction points, both sides continue to maintain nearly 50,000–60,000 troops…

Foxconn, the Taiwanese electronics manufacturing giant and Apple’s largest iPhone producer, has officially started small-scale production of the iPhone 17 at its Bengaluru facility — the company’s second-largest plant outside China. This comes in addition to ongoing production at its Chennai unit, according to a PTI report citing industry sources. The Bengaluru plant, established with an investment of nearly ₹25,000 crore, had earlier faced delays due to Chinese engineers returning home. However, Foxconn has now filled the expertise gap by bringing in specialists from Taiwan and other countries. Apple’s India expansion comes as the tech giant pushes to scale production…