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GIP-backed Pristine Logistics takes confidential route to IPO; picks Axis, CLSA, SBI as book managers
The proposed listing of Pristine fits the pattern of infrastructure asset monetization in India, where a record ₹12.2 trillion government capital expenditure budget is drawing attention from global private equity and infrastructure funds, including GIP, Actis and Macquarie
Quick Wrap: Nifty Auto Index registers a drop of 2.08%
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Axis Bank CFO Puneet Sharma resigns to pursue new opportunities
Axis Bank's Chief Financial Officer, Puneet Sharma, has resigned to pursue new professional opportunities. Sharma, who has been with the bank since March 2020, will step down on August 31. He previously held significant roles at Tata Capital and Citibank. The bank expressed gratitude for his contributions and wished him well for the future.
Delhi EV policy gets Cabinet nod, govt to invest Rs 15,000 crore to boost green mobility
Delhi's Cabinet has greenlit an electric vehicle policy, set to launch by July 1, with a substantial Rs 15,000 crore investment planned over four years. The policy may offer a 50% road tax waiver on hybrid vehicles up to Rs 30 lakh, aiming to accelerate electric mobility adoption despite some internal debate. This move signals a significant push towards greener transportation in the capital.
Aastha Spintex IPO off to a steady start; issue subscribed 52% on Day 1. Check GMP & key details
Aastha Spintex IPO saw a steady start on Day 1, subscribed 52% by mid-session, with strong NII demand leading the response. The issue carries a 4% grey market premium, indicating modest listing gains. Proceeds will fund Falcon Yarns acquisition, working capital needs, and general corporate purposes.
Zerodha now wants to enter investment banking space, seeks Sebi nod
Zerodha has applied to SEBI for a Category I merchant banking licence, signalling its entry into investment banking. The move aligns with India’s strong IPO pipeline and expanding capital markets activity. If approved, it will deepen Zerodha’s diversification beyond broking into a broader financial services platform
All-India monsoon season rainfall sees deficit of 42% compared to LPA, says IMD
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Foreign investors could return to India if earnings improve, rupee stays stable: Emmer Capital
Manishi Raychaudhuri, Chief Executive Officer of Emmer Capital Partners, highlighted AI spending concerns, higher US interest rates and a stronger dollar as the key factors driving volatility across Asian markets, while stressing the need for more job creation in India.
This Tata Group stock could re-rate only on the back of these two factors, Motilal Oswal says
Tata Capital has displayed disciplined cost control measures via digital initiatives, process improvements and branch-level productivity. As new branches scale and technology matures, its productivity gains are expected to enhance efficiency, Motilal Oswal said.
Government introduces improvement notice mechanism to promote ease of doing business
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Strides Pharma rises after divesting stake in Pivot Path to Ascent Capital consortium
Strides Pharma Science added 2.69% to Rs 1112.30 after the company announced a strategic investment by a consortium led by Ascent Capital, along with co investor Vintage Classic, in its wholly owned subsidiary, Pivot Path.
Zerodha Files For SEBI Merchant Banking Licence, Eyes Investment Banking Entry
A Category 1 merchant banker licence will allow Zerodha to expand beyond broking into a wider suite of capital market services.