Markets

CCI Greenlights Mega Acquisition: TVS Entities to Acquire PGIM India Asset Management in Major Wealth Management Consolidation The Competition Commission of India (CCI) has approved a significant strategic merger involving the acquisition of key asset management operations from PGIM India by two entities under the TVS umbrella. This regulatory clearance marks a major development in the Indian wealth management and investment services sector.The Nature of the Proposed Combination The approved combination involves the acquisition of 100% of the issued, subscribed, and paid-up share capital of PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited (referred to as 'Target entities'). This strategic move...

Tembo Global Industries Approves 1:10 Stock Split, Converts Warrants to Boost Liquidity Tembo Global Industries Limited announced a strategic move following its Board meeting on June 16, 2026. The company approved a 1:10 stock split and sanctioned the conversion of 4.05 lakh convertible warrants into equity shares. This dual development aims to improve share liquidity and broaden investor participation in the market.Under the proposed stock split, existing equity shares, which carry a face value of ₹10, will be divided into ten equity shares each with a face value of ₹1. The company stated that this subdivision is intended to make its shares more affordable and accessible to a wider base of investors, thereby enhancing liquidity in...

Zydus Completes Merger, Acquires Control of Asserthio Holdings Inc. Following Transaction Zydus Lifesciences Limited has successfully completed a significant acquisition transaction, finalizing the merger of its subsidiary, Zara Merger Sub Inc., into Asserthio Holdings Inc. Following this completion, Asserthio Holdings, a specialized oncology pharmaceutical company, has become a wholly owned subsidiary of Zydus. As part of this transition, the common stocks of Asserthio are no longer listed or traded on the Nasdaq Global Market.The merger process involved the acquisition of all outstanding shares of common stock of Asserthio. This transaction marks the culmination of efforts to gain full control over the specialized pharmaceutical...

Unistone Capital and Mr. Jitendra Sanghavi Pay ₹34 Lakhs and ₹32 Lakhs to SEBI in Cupid Limited Settlement Order SEBI Finalizes Settlement for Alleged Violations by Applicants in Cupid Limited Case The Securities and Exchange Board of India (SEBI) has issued a formal Settlement Order on June 16, 2026, bringing an adjudication proceeding against two applicants—Unistone Capital Private Limited and Mr. Jitendra Sanghavi—to a conclusion. The order addresses alleged violations concerning their trading practices in the scrip of Cupid Limited.SEBI initiated these proceedings under the SEBI Act, 1992, after a Show Cause Notice (SCN) was issued to both applicants on June 13, 2025. The initial allegations focused on discrepancies regarding...

TVS Group Makes Strategic Pivot: Emerald & Venu Acquire PGIM Assets to Burst Into Asset Management Sector The corporate landscape is shifting as the TVS group makes a definitive move into the specialized financial services market. TVS Emerald Limited and its subsidiary, TVS Venu Management and Consultancy Services Private Limited (TVS VMC), have successfully completed the process of acquiring two key entities in the asset management space. This strategic combination aims to leverage the combined strengths of both the Acquirer group and the Target companies.Regulatory Approval Confirms Strategic Acquisition Move The proposed combination, involving TVS Emerald and its associated parties, has been approved under Section 311 of the...

Sona BLW Precision Forgings Announces Employee Stock Option Grant and Share Allotment Sona BLW Precision Forgings Limited reported key decisions made by its Nomination and Remuneration Committee (NRC) on June 16, 2026, regarding employee stock options under the Sona Employee Stock Option Plan 2023 (ESOP 2023), alongside the allotment of shares to employees who exercised vested options.The NRC granted 1,00,000 Employee Stock Options under the ESOP 2023. The exercise price for these options is set at the Fair Market Value as on June 16, 2026, which was INR 596.35 based on the closing price recorded on the NSE.The details pertaining to the granted options are outlined below:ParticularsDetails of Options GrantedBrief details of...

Dhunseri Investments Recommends Dividend of Rs 3.00 Per Share and Outlines TDS ProvisionsDhunseri Investments Limited has recommended a dividend payment for shareholders, effective for the financial year ended March 31, 2026. The Board of Directors had suggested the final dividend at Rs 3.00 per equity share, which is based on a face value of Rs 10 per share.The recommendation was made during the company’s meeting held on May 27, 2026, and is subject to approval by shareholders at the forthcoming Annual General Meeting (AGM), scheduled for August 20, 2026.Dividend Payment Schedule and Record Dates The Register of Members and Share Transfer Books will be closed from Friday, August 14, 2026, through Thursday, August 20, 2026, to...

Defence Order Boom: Rappid Valves Bags ₹29.86 Crores in Key Naval Contracts Rappid Valves (India) Limited has successfully secured strategic orders amounting to ₹29.86 crores from key players within the Indian defense and naval ecosystem. These contracts reaffirm the company's solidifying presence within India's maritime and shipbuilding industry. The newly acquired business involves supplying critical valve systems and associated components destined for various Indian Navy programs.Diversification of Strategic Naval Orders The orders obtained by Rappid Valves underscore its capabilities as a trusted domestic supplier. They are directly tied to strategic naval platforms, supporting the nation’s drive towards maritime self-reliance and...

Horizon Reclaim IPO Skyrockets to 283 Times Subscription, Driving Investor Frenzy Horizon Reclaim India's maiden public issue has garnered massive investor interest, concluding its bidding period with a phenomenal subscription rate of 282.87 times. This overwhelming demand positions the reclaimed rubber manufacturer for an anticipated robust market debut. The IPO saw significant uptake across all segments, fueled by the potential profitability demonstrated in the grey market.Massive Demand Drives Horizon Reclaim Subscription Numbers The company is raising ₹54.3 crore through the offering of 52.69 lakh shares. These shares are part of an initial public offering structured at the upper end of the price band, which was set between ₹98...

Share Holders Advised: Physical Security Holders Must Update PAN and KYC Details for Dividend Credit Investors holding physical securities of AEGISLOGISTICS LIMITED are being urged to complete mandatory Know Your Customer (KYC) and profile updates promptly, as the company requires essential details for proper dividend and interest distribution. This notification applies specifically to shareholders whose shares are held in physical form.The Registrar and Transfer Agent (RTA), M/s MUFG Intime India Private Limited, has requested that all shareholders holding shares in physical mode furnish their PAN, KYC, and Nomination details (optional). The required formats for various KYC processes, including those related to Forms ISR-1, ISR-2...

NHAI Shifts Gears: Predictive Asset Management Promises Revolution in National Highway Operations India's infrastructure backbone is undergoing a strategic transformation as the National Highways Authority of India (NHAI) transitions towards predictive asset management. This move represents a significant shift from traditional maintenance cycles to data-driven operational planning. The adoption of advanced asset management techniques is set to substantially strengthen both the operations and the ongoing upkeep of the nation's vital highway network.Understanding the Shift to Predictive Management The transition by NHAI signals a maturation in infrastructure stewardship. Rather than reacting to road failures or performing periodic...

CBI Files Chargesheet in Massive Siphoning of ₹75.34 Crore from Chandigarh Government Funds The Central Bureau of Investigation (CBI) has filed a significant chargesheet related to the alleged misappropriation of ₹75.34 crore from the accounts of the Chandigarh Renewable Energy Science and Technical Promotion Society (CREST). The case involves criminal collusion between officials from IDFC First Bank, CREST administrators, shell companies, and several private individuals.The CBI confirmed that the chargesheet was filed before a special court in Chandigarh, detailing criminal offenses ranging from criminal conspiracy and breach of trust to cheating and forgery.Allegations of Misappropriation Against Financial Institution Officials...

General Insurance Corporation of India Faces Proposed Offer for Sale by Government The President of India, acting through the Ministry of Finance and being the promoter of General Insurance Corporation of India, has proposed an offer for sale of equity shares in the company through the stock exchange mechanism. This offer outlines a potential total offering size up to 87,720,000 equity shares.The offer includes two components: the Base Offer Size and an Oversubscription Option. The initial Base Offer Size amounts to 35,088,000 Equity Shares, which represents 2.00% of the total paid up equity share capital of General Insurance Corporation of India.Additionally, there is an Oversubscription Option allowing for the sale of up to...

Sethi Funds Acquires Shares of KCP Sugar and Industries Corporation Ltd., Raising Stake to 0.43% Sethi Funds Management Private Limited has acquired equity shares in K.C.P. Sugar and Industries Corporation Ltd. through the open market, increasing its stake in the company. The acquisition saw the entity secure 1,10,000 shares, moving its holding from 0.33% to 0.43% of the total issued and paid-up share capital.The acquisition was conducted by Sethi Funds Management Private Limited, with K.C.P. Sugar and Industries Corporation Ltd. also involved in the transaction as a promoter group entity. The purchase represented 0.10% of the target company’s issued and paid-up share capital.Transaction Details and Shareholding Status The details...

Lloyds Steel Subscribes 585,000 Shares of Loka Metals in Right Issue Lloyds Steel Private Limited, a wholly owned subsidiary of Innomet Advanced Materials Limited, has subscribed to 585,000 fully paid-up equity shares of Loka Metals Private Limited. The subscription was made pursuant to a right issue offered by Loka Metals to its existing shareholders.The total cash consideration for the subscription amounted to Rs. 58,50,000/-. This transaction was completed at the par value of Rs. 10/- per share. According to details provided, there is no change in Lloyds Steel's percentage shareholding in Loka Metals as the shares were allotted on a right issue basis proportionally to existing shareholders.The acquisition aligns with the...

Aegis Logistics Shareholders Urged to Update KYC and PAN Details for Physical Securities Shareholders holding physical shares of Aegis Logistics Limited are being alerted by the company's Registrar and Transfer Agent (RTA) regarding the mandatory requirement to furnish updated Permanent Account Number (PAN), Know Your Customer (KYC) details, and other specific information. This drive aims to ensure proper updation records for dividend crediting purposes.M/s MUFG Intime India Private Limited, acting as the RTA for Aegis Logistics Limited, has issued a reminder stating that physical security holders must comply with these requirements. These mandatory updates are essential for enabling the credit of any dividends declared by the issuer...

Aspect Global Ventures Launches Open Offer for Iykot Hitech Toolroom Ltd Shares Aspect Global Ventures Private Limited has initiated an open offer for the equity shares of Iykot Hitech Toolroom Limited (Target Company). The offer is set to acquire up to 2,698,298 fully paid-up Equity Shares of the Target Company.The offer details state that the face value of each share is ₹5/- (Rupees Five only). Shareholders are being offered a price of ₹8.50/- per equity share for cash. This transaction aggregates up to ₹2,29,35,533/- (Rupees Two Crore Twenty Nine Lakh Thirty Five Thousand Five Hundred and Thirty Three only), representing 26% of the Voting Share Capital of Iykot Hitech Toolroom Limited.The open offer is being managed by Saffron...

Sethi Funds Acquires 1,10,000 Shares in KCP Sugar and Industries Corporation Sethi Funds Management Private Limited has acquired equity shares in KCP Sugar and Industries Corporation Limited from the open market. The acquisition saw Sethi Funds purchase 1,10,000 equity shares, representing 0.10% of the total issued and paid-up share capital of the company.The transaction was carried out by Sethi Funds Management Private Limited, a promoter group member, indicating an increase in its stake in KCP Sugar and Industries Corporation Limited. The acquisition details confirm that Sethi Funds entered the deal through the Open Market mode of acquisition.Transaction Details and Shareholding Change Prior to this acquisition, the shares held by...

CRISIL Reaffirms Ratings for Plastiblends India's Bank Loan Facilities CRISIL Ratings Limited has reaffirmed the ratings assigned to the bank loan facilities of Plastiblends India, confirming the company's standing regarding its debt instruments.The rating affirmation covers a total of Rs. 96 Crore in bank loan facilities for the company. According to the ratings issued by CRISIL, both the long-term and short-term components have been reaffirmed.The detailed ratings assigned by CRISIL are presented as follows:Total Bank Loan Facilities RatedRs. 96 CroreLong Term RatingCRISIL A+/Stable (Reaffirmed)Short Term RatingCRISIL A1 (Reaffirmed)The ratings reflect the status of Plastiblends India's debt instruments, as assessed...

Managing Director Acquires Equity Shares in Globe Civil Projects Limited Vipul Khurana, the Managing Director of Globe Civil Projects Limited, has acquired 18,335 equity shares of the company on June 16, 2026. This transaction represents an acquisition made on the open market through the National Stock Exchange (NSE).The purchase was recorded as part of Vipul Khurana's increased stake in Globe Civil Projects Limited. Before this acquisition, his holding stood at 4,160,45705 equity shares. Following the transaction, his total equity shareholding is reported to be 16,064,040 shares. The recorded value associated with these acquired shares was 799,411.04.The details of the change in holding for the Managing Director are presented...