Markets

Biscuit Giant Parle Products Aims for Mega Billion Dollar IPO, Targeting over $10.5$ Bn Valuation Amid Global Scale Parle Products Ltd., the creator of iconic brands like Parle-G and Melody, is reportedly setting sights on a massive initial public offering (IPO) next year. Sources indicate that the company is targeting an impressive valuation exceeding $10.5 \text{bn}$ (equivalent to over $\text{RS 1,00,000 crore}$).The potential IPO size is also set at more than $1$ billion dollars ($\text{RS 9,530 crore+}$). These figures are preliminary, with officials cautioning that the final details will be subject to market conditions. The company is currently in the early stages of this process.Strategic Move and Advisor Selection Following...

Adani Enterprises QIP Launches at Rs 3,034; Giant $11.5 Billion Aluminium Project Greenlit in Odisha Adani Enterprises announced the launch of its Qualified Institution Placement (QIP) today, setting a floor price of Rs 3,034.68 per share for institutional investors. The QIP provides an avenue for the company to raise capital while maintaining corporate stability. This floor price reflects a 4% discount against the current market price of Rs 3,165 per share.SBI Capital Markets Limited, Jefferies India Private Limited, ICICI Securities Limited, and IIFL Capital Services Limited have been appointed as the book running lead managers (BRLMs) for this significant issue. The final issue price will be determined by Adani Enterprises in...

JLR Reports Q1 FY27 Sales, Noting Volume Headwinds Amid Strong Product Mix Jaguar Land Rover Automotive plc (JLR) has released its wholesale and retail sales figures for the first quarter of Fiscal Year 2027, which ended on June 30, 2026. The company reported that Q1 volumes were affected by various factors, including temporary supply constraints from a fire at a major component supplier at the start of the quarter, market disruption linked to the conflict in the Middle East, and the planned wind down of outgoing Jaguar models ahead of the launch of Jaguar Type 01.JLR's wholesale volume for the first quarter stood at 79,300 units (excluding the Chery Jaguar Land Rover China JV). This represented a decline of 9.2% year-on-year and a...

Coal India Power Surge: Supplies to Electricity Sector Jump 5.9% Amid Peak Demand Rally Steady Growth in Power Sector Coal Supply Fuels Summer Demand Coal India Ltd (CIL) reported robust increases in coal supplies driven by the escalating electricity demand characteristic of the peak summer season. In June, supplies of coal destined for the power sector rose by 5.9 per cent, reaching 51.44 million tonnes (MT). This figure contrasts significantly with the supply recorded for power plants in June last year, which stood at 48.57 MT.Overall Coal Supplies See Strong Growth Across Industries The maharatna firm also reported a healthy overall growth in coal supplies during the month of June. Total coal supplies increased by 7.5 per cent...

Exhicon Events Media Solutions Ltd Schedules Board Meeting to Discuss Preferential Fund Raising Exhicon Events Media Solutions Ltd has announced a meeting of its Board of Directors scheduled for Tuesday, July 07, 2026. The primary focus of the meeting is to consider and approve a proposal involving fund raising through the preferential issue or private placement of securities.The company intends to address various matters during the board meeting, including the determination of the Issue Price related to the proposed fundraising. This matter is subject to necessary regulatory and statutory approvals, as well as the approval of the Company's shareholders. The Board agenda also includes other business with the permission of the Chair...

Adani Enterprises Ltd Approves QIP for Equity Shares; Floor Price Set at ₹ 3,034.68 Adani Enterprises Ltd has authorized the Qualified Institutions Placement (QIP) of its equity shares. The decision was made by the company's QIP Committee on July 2, 2026, following prior approvals from the Board of Directors and members of the Company.The QIP Committee resolutions approved the commencement of the Issue and adopted the preliminary placement document dated July 2, 2026. The floor price for the Equity Shares was set at ₹ 3,034.68 per share, based on a prescribed pricing formula under SEBI ICDR Regulations.The Relevant Date for the Issue is also noted as July 2, 2026. While the floor price stands at ₹ 3,034.68 per Equity Share, the...

Happy Square Outsourcing Services Secures Contract Extension from NABI, Valued at Rs 4.50 Crore Happy Square Outsourcing Services Limited has secured an extension on its existing Work Order with the BRIC- National Agri-Food and Biomanufacturing Institute (NABI). The renewal of the contract is valued at approximately Rs 4.50 Crore, inclusive of all taxes, providing a boost to the company's order book.The Work Order, which was originally awarded in June 2024, has now been extended for one year. This extension relates to manpower supply services and covers operations extending until July 29, 2027.The engagement details highlight that NABI is a domestic entity, and the contract remains within the ordinary course of Happy Square...

Utkarsh Small Finance Bank’s Credit Ratings Adjusted by ICRA; Key Instruments Downgraded Utkarsh Small Finance Bank Ltd has seen credit rating adjustments from ICRA Limited concerning its principal instruments, according to recent updates. The ratings reflected changes across the bank's subordinated debt and certificates of deposit.The rating agency provided detailed insights into the revisions, citing aspects of the Bank’s financial performance and asset quality profile as parameters for the change.A summary of the rated instruments and their associated rating actions is presented below:Rated InstrumentRated Amount (Rs. in crore)Current RatingPrevious Rating/OutlookSubordinated debt400[ICRA]A- (Stable)Downgraded from...

Motherson Sumi Wiring India Ltd's Rating Affirmed by India Ratings and Research Private Limited India Ratings and Research Private Limited, a Fitch Group Company, has affirmed the rating for Bank Loan Facilities of Motherson Sumi Wiring India Ltd. The rating action pertains to the company's access to banking credit facilities.The agency affirmed the existing rating for the company's bank loan facilities. According to the details provided by the rating agency, both the previous and revised ratings were maintained following the review.A summary of the rated parameters is detailed below:ParticularsRated Limits (million)Revised RatingPrevious RatingBank Loan FacilitiesINR 6,000IND A1+ (Affirmed)IND A1+ (Assigned)The rating...

Primo Chemicals to acquire final stake in Flow Tech to establish Wholly Owned Subsidiary Primo Chemicals Limited has approved the acquisition of the remaining equity stake in Flow Tech Chemicals Private Limited, a move set to transform the associate company into a wholly owned subsidiary of Primo Chemicals.The Board of Directors of Primo Chemicals held a meeting on July 2, 2026, during which it approved the acquisition of the balance 51% equity stake in Flow Tech. This strategic transaction is intended to solidify operational control and generate long-term financial benefits through business synergies. Prior to this move, Primo had acquired a 49% equity stake in Flow Tech, classifying the company as an Associate Company within the...

Coal India Supplies Jump 5.9% in June FY27 as Electricity Demand Rises Coal India Limited (CIL) reported a significant increase in coal supplies to the country’s power plants, growing by 5.9% in June of fiscal year 2026–27. Driven by rising electricity demand during the peak summer season, CIL supplied 51.44 million tonnes (MTs) to the power sector in June FY 26–27, compared to 48.57 MTs supplied in the corresponding month of the previous year.The growth trend was also observed across the first quarter (Q1) of FY 26–27. During Q1, CIL supplied a total of 154.75 MTs of coal to the power sector, which represents an increase of 1.8% from the 151.93 MTs provided in Q1 FY 25–26.Overall Supplies and Strategic Shifts In terms of overall...

iStreet Network Completes Warrant Conversion, Allots 2 Lakh Equity SharesiStreet Network Ltd has completed the allotment of equity shares following the conversion of warrants, increasing its paid-up capital base. The Board of Directors approved the conversion of 200,000 warrants into an equal number of equity shares with a face value of ₹ 4 each.The transaction was completed for cash, resulting in the company receiving ₹ 9,00,000 upon receipt of the exercise price. This payment represents 75% of the warrant issue price.The details of the allotment and associated payments are summarized below:Allottee NameCategoryNo. Warrants Applied ForNo. Equity Shares AllottedAmount Received (₹)Rajesh A...

Chatha Foods Acquires 69.79% Stake in Allana CF Foods Chatha Foods Limited has completed the allotment of equity shares in its subsidiary, Allana CF Foods Private Limited. The acquisition resulted in Chatha Foods holding a significant stake in the entity, which specializes in the ready-to-eat and ready-to-cook products segment of the food industry.The transaction involved the subscription to 11,96,700 Equity Shares of M/s Allana CF Foods Private Limited. These shares were acquired at par, with a total cost amounting to Rs. 1,19,67,000 (Rupees One Crore Nineteen Lakh Sixty-Seven Thousand Only).Following the allotment, Chatha Foods will possess a 69.79% shareholding in Allana CF Foods Private Limited.Transaction Summary Details The...

JLR Reports Q1 FY27 Sales: Wholesale and Retail Volumes Reflect Market Headwinds Jaguar Land Rover Automotive plc (JLR) has reported its wholesale and retail sales figures for the first quarter of Fiscal Year 2027 (Q1 FY27), covering the three months ended June 30, 2026. The company noted that Q1 volumes faced various headwinds, including temporary supply constraints, market disruption linked to Middle East conflicts, and planned model wind-downs ahead of Jaguar Type 01's launch.Wholesale and Retail Performance Summary Wholesale sales for the first quarter totaled 79,300 units (excluding the Chery Jaguar Land Rover China JV), representing a decline of 9.2% year-on-year and 16.8% compared to Q4 FY26. Retail sales, which included CJLR...

Ugro Capital Limited Approves Allotment of Commercial Papers Worth Rs 38.65 Crore Ugro Capital Limited has approved the allotment of Commercial Papers (CPs). This decision was made by the Investment and Borrowing Committee of the Board of Directors on July 2, 2026.The CPs, which are set to be listed, feature a tenure of 141 days. The transaction details indicate that Yes Bank Limited, Mumbai, serves as the Initial Public Agent (IPA).Key financial and operational particulars regarding the Commercial Papers include:FeatureDetailSecurity TypeCommercial PapersStatusProposed to be listedAllotment DateJuly 2, 2026Redemption DateNovember 20, 2026Tenure of the Security141 daysFace Value per SecurityRs 5,00,000/-...

Punjab National Bank Releases Provisional Business Figures for Quarter Ended June 30, 2026 Punjab National Bank (PNB) has disclosed its provisional business figures for the quarter ending June 30, 2026. The results provide insights into the performance across global and domestic segments for Global Business, Domestic Business, Deposits, and Advances.The bank's operational metrics demonstrate growth in various categories, including advances and deposits, compared to previous periods.Key financial data points provided by PNB are summarized below:Particulars30.06.2025 (Audited)31.03.2026 (Audited)30.06.2026 (Provisional)*Q-o-Q GrowthY-o-Y GrowthGlobal Business27,19,27629,69,68529,99,8761.02%10.32%Domestic...

Shareholders Meeting Conducts Voting on JPA Snacks and Manaksia Coated Metals Merger Scheme Manaksia Coated & Metals Industries Ltd held an Ordinary Shareholders Meeting (OSM) via Video Conferencing/Audio Visual Means on Monday, June 8, 2026. The meeting focused on transacting the resolution for approving the Scheme of Merger between JPA Snacks Private Limited and Manaksia Coated & Metals Industries Limited and their respective shareholders.The meeting commenced at 11:00 A.M. and concluded at 11:31 A.M. Approximately 40 members participated in the proceedings through the virtual platform. The company engaged NSDL to facilitate remote e-voting for eligible members, which ran from June 4, 2026, to June 7, 2026. Voting rights were...

CCI Closes Anticompetition Case Over Institutional Furniture, Finding No Prima Facie Violation Against Godrej & Boyce The Competition Commission of India (CCI) has closed an investigation into allegations of market manipulation within the public procurement of institutional furniture. The case targeted Godrej & Boyce Mfg. Co. Ltd. and a slew of government and infrastructure procuring entities, concluding that there was no prima facie evidence of anti-competitive conduct against OP-1 (Opposite Party 1).The order, passed on July 2, 2026, addresses concerns raised by Informants regarding systemic bias in tendering processes across major public sector organizations. The investigation focused on whether practices such as tailoring tender...

Shree Steel Wire Ropes Ltd Schedules Board Meeting for Directors Shree Steel Wire Ropes Ltd has announced that a meeting of the company's Directors is scheduled for Monday, July 13, 2026. The gathering is set to take place at 10:00 A.M. at a specified commercial venue in Mumbai.The Board Meeting notice, issued on July 04, 2026, invites the directors to attend and transact business as detailed in the accompanying agenda.Details regarding the meeting are as follows:DetailInformationEventDirectors' Board Meeting ('2/2026-27')DateJuly 13, 2026Time10:00 A.M.Venue5th Floor, Shiv Ashish Commercial Complex, Plot No.10, 19th Road, Chembur, Mumbai - 400 071The company has also made arrangements to facilitate remote...

Rapid Holdings Sells Units of Energy Infrastructure Trust in Market Transactions The sponsor of Energy Infrastructure Trust, Rapid Holdings 2 Pte. Ltd., has conducted multiple sales of trust units on the market. These transactions detail the reduction in the sponsor's stake in the infrastructure trust.Details of the sale transactions are presented below, showing the progression of unit disposals by Rapid Holdings 2 Pte. Ltd.Unit Sale Transaction Details The following tables provide a comprehensive view of the sales executed by the Sponsor, as disclosed in Form C filings relating to the Trust's units (ISIN: INE05KD23015).Table 1: First Disposal of UnitsParticularPrior HoldingDisposed QuantitySale ValuePost-Transaction Stake...