Mumbai: India’s largest telecom operator by subscribers, Reliance Jio Limited, has filed its Draft Red Herring Prospectus (DRHP) for its IPO with SEBI. This highly anticipated IPO coincided with the 49th AGM of parent Reliance Industries Limited, where Chairman Mukesh Ambani outlined the group’s ambitions to become an AI and manufacturing powerhouse. Though exact numbers have not been revealed, market sources estimate that the IPO is expected to be worth about $4 billion (about Rs.35,000 crore). This would comfortably eclipse the recently filed IPO for NSE and Hyundai Motor’s IPO last year. Unlike these IPOs, Reliance Jio’s IPO will be…
Author: Abizar Attari
Abizar Attari
I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.
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New Delhi: Appreciating the consistent growth and operational efficiency over the years, the government has granted Kolkata-based PSU Garden Reach Shipbuilders & Engineers Limited (GRSE) Navratna status by the Department of Public Enterprises, Ministry of Finance in New Delhi. The shipbuilder has consistently seen its revenues rise from ₹1,754 crore in FY2021-22 to ₹7,002 crore in FY 2025-26, with its Profit After Tax (PAT) rising from ₹190 crore to ₹748 crore during the same period, a growth of almost 294%. A proud milestone: GRSE has been conferred Navratna status by the Government of India. 🇮🇳 Greater autonomy. Greater agility. The…
Mumbai: At the highly anticipated 49th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), Chairman Mukesh Ambani unveiled his plans to further transform the conglomerate from a traditional energy and consumer platform to a manufacturing powerhouse for next-generation, high-value materials like carbon fibre, specialty materials, and green chemicals. With the war in West Asia showing no signs of subsiding, Mukesh Ambani highlighted the importance of Aatmanirbharta for energy. “We must intensify and speed up our efforts to make our country atma nirbhar in critical resources and technologies. Maximum energy self-sufficiency and AI self-sufficiency must become our national missions. The…
New Delhi: The Central Board of Direct Taxes (CBDT) has reported a 5.12% year on year rise in net direct tax collections for the financial year 2025-26 at ₹23.40 crore, but it still hasn’t met the government’s revised target of ₹24.21 crore. Earlier announcements by Finance Minister Nirmala Sitharaman had lowered the income tax rebates to ₹12 lakh effective April 1,2025 from ₹7 lakh earlier. This was aimed at boosting consumption with further across the board changes in tax rates and a hiked standard deduction to ₹75,000. Despite this, the Income Tax department has successfully optimized its tax refund protocols…
Mumbai: The Indian stock market had a brutal sell-off this morning, with almost Rs 2 lakh crore of investor wealth wiped out as the overall Nifty IT index crashed nearly 6% in early morning trades. US-based Accenture’s lowered revenue guidance acted as the main trigger, with the company expecting to see a $100 million impact on its consulting business due to the West Asia war. Along with that, the company is expecting to see a free cash flow in the range of $10.8 billion to $11.5 billion as the company witnesses a 1% impact from its US Federal business, which…
Noida: Sustainable waste to resource firm Race Eco Chain Limited has seen its Profit After Tax (PAT) decline 36.2% year on year to ₹81 lakh for the quarter ended March 31, 2026 as the company has been facing increasing challenges in its operations due to an increase in raw material prices and higher working capital requirements. This has also resulted in the company seeing a 22.2% decline in operating revenue to ₹108.25 crore even as its EBITDA has increased 13.75% to Rs. 3.06 crore for the same period. The challenging operational environment also meant that the company has witnessed a…
Chennai: Water technology pioneer VA TECH WABAG Limited (WABAG) has secured Design, Build and Operate (DBO) contract for the Doha SWRO Desalination plant. This marks WABAG’s entry into Kuwait, as it looks to expand its footprint in the Middle East. The project involves designing, engineering, procuring, constructing and commissioning of a 60 MIGD (272 MLD) Seawater Reverse Osmosis (SWRO) desalination plant with a state-of-the-art Recarbonation system. WABAG has a 36-month schedule for this, including a five-year operation and maintenance period. The company will be executing this through an unincorporated Joint Venture with Heavy Engineering Industries & Shipbuilding Company K.S.C. (HEISCO).…
Mumbai: French cosmetics giant L’Oréal has signed a definitive agreement to acquire a majority stake in Indian D2C cosmetics brand Innovist, as the company looks to expand its portfolio in India burgeoning cosmetics market. According to the deal, the founding team will remain in place as minority shareholders and will continue to lead Innovist, driving its popular brands like Bare Anatomy, Chemist at Play and Sunscoop. While the financials of the deal were not disclosed, it is estimated to be valued between $350 and $ 450 million. “Our investment in this innovative Indian start-up is a clear testament to our…
Mumbai: Investors are looking forward to the latest big-ticket IPO, with the National Stock Exchange of India (NSE) having officially filed its Draft Red Herring Prospectus (DRHP) with SEBI. This long-awaited public offering is now closer to reality after years of delays caused by structural regulatory hurdles. According to the draft papers filed on June 18, the blockbuster issue is an 100% Offer For Sale (OFS) with 14.8 crore equity shares (about 6% of the exchange’s paid up capital) on the block. The pricing of the IPO hasn’t been disclosed in the DHRP, but it remains one of the highly…
Mumbai: Mid-cap pharma major Ajanta Pharma Limited has delivered consistent growth for the full financial year 2026, with its net profits rising 10% to ₹1,056 crore from ₹ 920 crore last year. The company has also seen its revenues surpass the ₹5,000 crore mark with its revenue increasing 13% from last year. The branded generics major has seen consistent performance across the board, with its US generics vertical witnessing a 49% growth in sales while its Africa business also seeing a 9% sales growth. The management has decided to reward its investors by declaring a final dividend of ₹28 per…
