Enterprise Financial News

₹156 to ₹164 per equity share of face value of ₹1 each. Zaggle IPO garnered ₹253.52 crore from 23 anchor investors at the upper price band of ₹164 per equity share. Zaggle IPO has reserved not more than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 10% of the offer is reserved for Retail Investors.

Indian startup ecosystem. The sector has witnessed one of the worst slowdowns in risk capital funding for startups that has stretched for over a year, drawing the moniker of a “funding winter”. The eleven jurors including top business leaders, startup entrepreneurs who have taken their companies public recently, marquee investors and other founders, would therefore display a razorsharp focus on business models built for the long term.

Adani stocksAdani Group is in talks with banks to refinance debt taken on to fund its purchase of Ambuja Cements, with lenders divided into three categories in what could be one of Asia’s largest syndicated loan deals of the year, Bloomberg reported.Reliance IndustriesReliance Industries arm Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion.Read more: Here's the trading setup for today's sessionKPI Green EnergyKPI Green Energy has commissioned a 7.80MW wind-solar hybrid power project comprising 4.20 MW wind and 3.60 Mwdc solar capacity under the CPP segment.NBCCNBCC has been awarded consultancy and project management services for upcoming Infrastructural related projects of Bokaro Steel Plant from SAIL.IRCTCIRCTC has signed a Memorandum of Understanding (MOU) with Maharashtra State Road Transport Corporation (MSRTC) to enable MSRTC's online bus booking services via IRCTC's bus booking portal/website.Bombay DyeingBombay Dyeing approved a proposal to sell the land parcel of about 22 acres in Worli, Mumbai to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5200 crore.WiproWipro has launched a cyber defense center (CDC) in Dusseldorf, Germany.

ET Startup Awards 2023 jury meeting, as the members contemplated how much weight should be given to public good, impact and financials. Their final choice was FIA Global, a platform that helps people in some of the most remote areas of the country avail of formal financial services, from opening a bank account and taking a loan to investing in mutual funds and buying digital gold.

ZopSmart emerged as the hands-down winners of the Comeback Kid category at ETSA 2023. Hailing the team of Mukesh Singh, Raj Pandey and Vikash Kumar as role models for their sheer hard work, grit and perseverance, the star-studded jury unanimously voted for ZopSmart’s founders in the secret ballot on Tuesday.

Olivia Rodrigo will launch her 'Guts' World Tour in North America and Europe in February 2024 and it will come to an end in August. The tour will go across North America for six weeks before moving to Europe. It will return to North America in May before concluding in Rodrigo’s hometown of Los Angeles. The tour will feature opening acts, performed by young women. British dance-pop singer PinkPantheress, Los Angeles-based pop singer Chappell Roan, and California pop-rock singer Remi Wolf will produce the opening acts. Ex-Pixies singer Kim Deal will lead the Breeders band which will produce a string of radio and video hits. The American singer made her VMA debut in 2021 as she performed her Billboard Hot 100 No. 1 hit 'Good 4 U.'

IndusInd Bank on Wednesday informed the National Company Law Appellate Tribunal (NCLAT) that it has reached a settlement with Coffee Day Global and has withdrawn the insolvency petition against the company. A lawyer who is part of the deal said on the condition of anonymity that the debt in question was sold to ASREC (India) Ltd, an asset reconstruction company. A joint settlement application has also been filed by the two in the matter.

Ocean Explorer, a cruise ship with 206 passengers and crew onboard, has run aground in a remote area of Greenland, leading to a potentially lengthy wait for rescue.

Small and Medium Enterprises (MSMEs) to global value chains, as highlighted at G20 meetings and through our Foreign Trade Policy, 2023, is undeniably a step in the right direction. The MSME sector is one of our largest employers, accounting for 29.2% of GDP and 36.2% of manufacturing output in 2021-22. However, the share of MSMEs in our exports has declined from 49.4% in 2020-21 to 43.6% in 2022-23.

unemployment rate when combined with the increase in population clearly shows that a far larger number of people are looking for work than in the past. What could be the cause of this seeming paradox? A conventional explanation has been that India’s demonetization of high-value currency notes in November 2016 followed by GST implementation in mid-2017 delivered a shock to the economy, particularly its informal sector. This shock is said to still persist, causing the high unemployment rate; improved GST collections are then attributed merely to improved performance of the organized formal sector.

Wipro Consumer Care & Lighting is aiming to be among the top three companies in the lighting segment by FY2024-25-end, growing faster than the industry average despite challenges related to inflation and low rural consumer demand, a company official said. The company, part of Wipro Enterprises, entered into the home appliances segment more than a year ago, with the launch of the products into the mid to premium segment. Currently, its appliances are an online exclusive brand, available on e-commerce channels, however, it has plans to go offline also, said Sanjay Gupta, Senior Vice President, Consumer Lighting & Switches at Wipro Consumer Care & Lighting. In FY 2022-23, Wipro's Lighting business achieved a remarkable double-digit growth, crossing Rs 1,000 crore revenue. When asked about the growth, Gupta told PTI: «Moving forward, we are confident in our ability to outpace industry growth rates, despite encountering some demand-side challenges in the B2C Lighting segment.» «To sustain this momentum, we have established ambitious growth targets, aiming to secure a spot among the top three players in the Lighting industry by the close of the fiscal year 2025,» he added. Wipro's lighting business is divided into two segments B2C and B2B — contributing 60 and 40 per cent, respectively — in the top line. According to Gupta, there has been a slowdown in the demand for the last one year in the B2C business because of inflation and other factors. «However B2B business is doing very well because of the new infrastructure projects.

Everlodge offers a tantalizing promise: luxury real estate ownership that's not just the preserve of the elite. This democratization becomes real with their tokenized approach, where properties can be broken down into more affordable units and thus made available to a much wider demographic. The ELDG token is currently priced at $0.012 per token, allowing investors a ground-floor opportunity to participate in the platform's potential upside.

Founded in 2014, MoEngage is reshaping the customer engagement space through product innovation and proprietary technology built in-house. Present in 35 countries, the company provides the best-in-class regional support and guidance to help create memorable moments for customers.

Small and Medium Enterprises (SME). Also Read: Samhi Hotels IPO: Issue to open tomorrow; check latest GMP, IPO price band, other key things to know Ahead of the Unihealth Consultancy IPO share allotment, let us take a look at what the grey market premium (GMP) suggests.

Indian market regulator Sebi on 14 September, Thursday. Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra have been barred by the Sebi from holding key positions within four Zee group firms and other organisations. Also read: Punit Goenka: SAT postpones ZEEL chief's plea against SEBI order; next hearing on... The case pertains to a Sebi order alleging that Goenka and Chandra, former chairman of ZEEL, abused their position as directors or KMPs of a listed company by siphoning off funds for their own benefit.

Coffee Day Global, its lender IndusInd Bank has decided to withdraw its insolvency resolution application against the company after the private sector lender assigned its loans to ASREC (India), an asset reconstruction company (ARC). The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) on Wednesday allowed the withdrawal of Coffee Day’s appeal in its oral order after both sides informed that they are settling the matter.

IndusInd bank reached a settlement and have withdrawn insolvency litigations. "Coffee Day Global and IndusInd bank told the Chennai bench of National Company Law Appellate Tribunal (NCLAT) on September 13 that they have reached a settlement and that the two parties have withdrawn insolvency litigations. NCLAT took their submissions on record and set aside the order admitting Coffee Day Global to insolvency," Moneycontrol reported.

Indiabulls Real Estate Ltd.(up 3.65 per cent), Sobha Ltd.(up 1.84 per cent), Mahindra Lifespace Developers Ltd.(up 1.13 per cent) and Prestige Estates Projects Ltd.(up 0.37 per cent) were among the top gainers. Macrotech Developers Ltd.(down 5.31 per cent), Phoenix Mills Ltd.(down 2.85 per cent), Brigade Enterprises Ltd.(down 1.12 per cent), Oberoi Realty Ltd.(down 1.09 per cent) and Godrej Properties Ltd.(down 0.61 per cent) were the top losers on the index. The Nifty Realty index was down 1.26 per cent at 569.95 at the time of writing this report. Benchmark NSE Nifty50 index was up 11.1 points at 20004.3, while the BSE Sensex was up 41.7 points at 67262.83. Among the 50 stocks in the Nifty index, 24 were trading in the green, while 24 were in the red. Shares of Indian Railway Fin, Suzlon Energy, JP Power, Vodafone Idea and YES Bank were among the most traded shares on the NSE. Shares of PDS Multi&Fash, Ajanta Pharma, KEC Int., Cadsys(India)Ltd.

Harsh Goenka, Chairman of RPG Enterprises, recently took to X (formerly Twitter) to engage in a discourse regarding the salary of ISRO Chairman S Somanath. In his tweet posted on September 12, Goenka raised the question of whether S Somanath's monthly income of ₹2.5 lakhs was justifiable. Goenka acknowledged that individuals like S Somanath are primarily driven by non-financial factors, including their profound passion for science, unwavering commitment to research, and a deep-seated desire to contribute to their nation's advancement.

“Corrections, whether through consolidation over time or absolute fall, cannot be ruled out in such instances. However, at the index level, we expect mid and small-cap outperformance over large-cap to persist over the next 12 to 18 months,” says Anand Rathi, Founder & Chairman, Anand Rathi Group. In an interview with ETMarkets, Rathi, said: “Currently, the future profits prognosis for mid- and small-cap firms appears to be more promising than that of large-cap stocks” Edited excerpts:Nifty@20,000 but it seems to be finding some resistance at higher levels – What is your take on markets at present?The Indian equities market has risen throughout the current fiscal year after remaining range-bound since October 2021. In the last 12 months, the large-cap has gained roughly 12%, the midcap around 25%, and the small cap over 30%.

The bid price for Origin Energy from its North American suitors needs to be boosted towards $10 a share or higher to reflect the big lift in the takeover target’s business since it was agreed, Macquarie has told clients.