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Two Gujarat-based companies launched their initial public offering (IPO) and the sale is set to conclude at the end of this week. Ahmedabad-based Prudent Corporate Advisory Services kicked off for subscription yesterday, with shares ranging between Rs595 and Rs630 a piece. With theis the company is aiming to raise around Rs540 crore. Prudent is one of the leading retail wealth management […]
Intas Pharmaceuticals Ltd, in a statement today, said that its arm, Accord Healthcare Ltd, has entered into an exclusive license agreement with UK-based biotech player Myovant Sciences, in order to offer a new treatment option for prostate cancer patients in Europe. This agreement will lead to commercialization of relugolix, 120 mg, under tradename of ORGOVYX® […]
Adani Sportsline, an initiative by the Adani Group, has acquired the rights to own and operate a franchise in a T20 league under the UAE flagship. The UAE T20 League, licensed by Emirates Cricket Board, is an annual event that features six franchise teams competing in a 34-match event. The teams will likely include leading […]
On Monday, Adani Airport Holdings Ltd (AAHL) announced that it raised $250 million from a syndicate. The consortium of Standard Charted Bank (SCB) and Barclays Bank PLC was possible through a three-year ECB facility. In addition to this, the facility has the power to raise an additional $200 million. According to the company’s release, AAHL […]
Reliance Industries recently announced a revenue of Rs7.92 lakh crore for financial year ending March 2022, becoming the first ever Indian company to clock $100 billion in annual revenue. The company recorded a revenue of Rs2.11 lakh crore in the January-March 2022 period, marking a significant increase of 36% as compared to the same period last year. The company […]
Even as the opposition Congress is still busy trying to disentangle from its own organisational issues, the BJP is already discussing the brass stacks with the Rashtriya Swayamsevak Sangh and its ancillaries are likely to play a bigger role in the Gujarat Assembly election strategies this time.Top BJP sources confirmed to Vibes of India that […]
Ola Cars yesterday announced that its CEO, Arun Sirdeshmukh, had resigned from his position just seven months after joining the company. Sirdeshmukh joined the company in October 2021. Nevertheless, this news closely follows the group’s decision to expand the role of CFO GR Arun Kumar. During the announcement, the company said that with Sirdeshmukh’s exit, […]
Apple has stopped accepting debit and credit card payments in India. Apple has stopped accepting credit cards issued by Indian banks for subscriptions and purchases. Apple will also not accept credit card payments from Indian banks for ad campaigns on Apple Search. All campaigns will be halted on June 1st.The change is the result of […]
Supply chain company Delhivery has fixed a price band of ₹462-487 a share for its ₹5,235-crore initial public offering (IPO), which will open for subscription on May 11. Addressing an online press conference on Thursday, Delhivery’s Chief Business Officer Sandip Basaria said that the company is well positioned to gain from current economic trends. “The […]
Gujarat is emerging crucial to the Atmanirbhar Bharat Dream. The state’s export figures have doubled in a year, leaving behind previous leaders Maharashtra and Karnataka. Among indigenous items that bring in the highest FOREX earnings for Gujarat are cotton yarn, ceramics, petroleum, diamond, electrical engineering products, chemicals and oil seeds. Amassing a total of Rs […]
The Women’s Wing of real estate developers’ body CREDAI Ahmedabad organised a seminar on building awareness on legal & financial awareness. Paridhi Adani, Partner and Head-Ahmedabad at law firm Cyril Amarchand Mangaldas (CAM) along with Rinkel Singh, Senior Associate, Dispute resolution team at the law firm, addressed around 90 women belonging to the real estate […]
In a surprise press conference held on Wednesday, Reserve Bank of India’s Governor, Shaktikanta Das, announced the increase of RBI’s repo rate. The RBI Monetary Policy Committee hiked the repo rate by 40 basis points. The change implies that the current repo rate is 0.4 percent. During the press meeting, Governor Shaktikanta Das mentioned the […]
Tata Power Renewable Energy has completed the construction of a 120 MW solar project in Masenka, Gujarat. Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of Tata Power, has commissioned the solar project, which will generate 305247 MWh per year for the Gujarat Government (GUVNL), according to a company statement. The installation used […]
With demand building up, the LIC IPO, which opened for subscription today, is likely to be oversubscribed, which means it will be listed at a premium to the issue price. Whether the scrip will stay above the issue price in the medium term will depend on LIC’s results over the next few quarters. Deepak Jasani, […]
Ahmedabad airport inaugurated its first Electric Vehicle (EV) charging stations on Tuesday. Adani Total Gas has installed the charging stations at the entrance and exit of the airport. The Adani Group, which took over the management of the airport in November 2020, has been introducing a series of changes aimed at improving the passenger experience and […]
Ever since Elon Musk took over Twitter, there have been speculations over how the platform might get transformed. Industry experts are keeping a close what on what changes Musk might implement and how they will affect the users. Musk has repeatedly indicated that he would bring in many changes to the platform, especially regarding free […]
Adani Wilmar Ltd (AWL), the country’s largest fast moving consumer products company by revenue, has bought packaged foods brand Kohinoor from American conglomerate McCormick for an unknown fee. Apart from the premium basmati rice brand, the sale also includes its umbrella brands Charminar and Trophy, which are worth around Rs 115 crore in total. With […]
The anchor investor portion of Life Insurance Corporation of India’s (LIC) initial public offering (IPO) was fully subscribed on May 2, according to a stock exchange disclosure from the company. According to the filing, domestic mutual funds (MFs) accounted for more than 71% of the anchor book portion. In total, the state-owned insurance company issued […]
The Chief Minister of Gujarat, Bhupendra Patel, has accepted Gandhinagar Secretariat’s demand to make the building centrally and fully air-conditioned. Bindeshwan Desai, head of Gujarat Secretariat Section Officers’ Association, and Pratap Singh Chauhan, General Secretary of Gandhinagar Secretariat, put forward the demand to install air-conditioners throughout the office. The nine floors of the Secretariat Block’s […]
Adani Group, which handles diverse businesses, is now engaging with foreign banks and global private equity investors to chalk out plans in the healthcare business. Adani Group, is an Indian multinational conglomerate company, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises […]
