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Kusumgar IPO Day 1: Issue opens today. GMP hints 40% listing pop. Should you apply or not?
The Kusumgar IPO subscription opens on July 8 and closes on July 10. The company raised ₹193.9 crore from anchor investors, allocating equity shares at ₹419 each. The IPO is 100% offer-for-sale, with no fresh capital raised, and is set to list on July 15.
Stock To Watch Today: Tata Capital, Dilip Buildcon, Cochin Shipyard, Indian Overseas Bank, Heritage Foods
Knack Packaging will also be in focus as its shares make their debut on the exchanges.
Google will set up more AI data centres in India as demand grows, says cloud business CEO Thomas Kurian
A multi-year capital expansion plan will follow the $15-billion investment in Andhra Pradesh announced last October, Thomas Kurian, chief executive of Google Cloud, told Mint.
Irdai asks state-run insurers to account for wage costs annually
Irdai has implemented a new requirement for state insurers to create annual provisions for wage increases, intending to soften the financial repercussions of periodic wage negotiations. Insurers are now obliged to evaluate the sufficiency of these provisions quarterly after obligations become clear. The government has ruled out options for additional capital, instead banking on solvency improvements from IFRS 17 and stakes in the NSE.
Irdai asks state-run insurers to account for wage costs annually
Irdai has implemented a new requirement for state insurers to create annual provisions for wage increases, intending to soften the financial repercussions of periodic wage negotiations. Insurers are now obliged to evaluate the sufficiency of these provisions quarterly after obligations become clear. The government has ruled out options for additional capital, instead banking on solvency improvements from IFRS 17 and stakes in the NSE.
City gas companies say government's 100k PNG connections-a-day target unviable
City gas distributors face government targets for household piped natural gas connections. Companies describe these ambitious goals as unrealistic due to infrastructure and capital constraints. The government aims to accelerate connections, which are currently at 9,000 daily. This push follows disruptions in LPG supplies, promoting domestic fuel sources. Industry executives cite execution bottlenecks and weak consumer demand as major challenges.
SEBI allows depositories to use part of Investor Protection Fund income for expenses
Capital markets regulator Sebi on Tuesday relaxed the norms governing utilisation of interest or income earned from the Investor Protection Fund of depositories, allowing up to 5% of such income to be used for administrative and statutory expenses.
Rivian shares tumble 15% after EV maker announces 75 million share offering to repay loan
Shares of Rivian Automotive slumped 15% after announcing a sale of 75 million shares to repay a DOE loan. Alongside the capital raise, the company announced second-quarter revenue of $1.3 billion.
QIP rebounds in June as calmer markets reopen fundraising equity window
Qualified institutional placement activity picked up sharply in June as easing geopolitical tensions, stronger markets and improved investor sentiment encouraged companies to raise equity capital
NFRA chief says Rajesh Exports probe is underway, can't share timeline
The National Financial Reporting Authority (NFRA) is looking into the revenue misstatements case at Rajesh Exports, but it will not be possible to share a timeline on the probe, a top official at the auditors' watchdog said on Tuesday. "Yes, we have started our processes," NFRA chairperson Nitin Gupta said on the sidelines of an event organised by Ficci here. He declined to share any observations, saying the matter is not with him, and also a timeline by which the probe will be completed. It can be noted that last month, capital markets regulator Sebi issued an order in which Rajesh Exports was found to have indulged in misstating revenues over a long period, pegging the overall discrepancies at Rs 15.5 lakh crore. As per subsequent reports, Sebi had written to NFRA seeking examination of the errant entity's auditors. Gupta on Tuesday called for genuine board independence in India's promoter-driven companies, pointing out that as AI influences corporate decision-making, a critical
Quick Wrap: Nifty IT Index records a surge of 2.43%
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Swiggy gains 6% after foreign investment hits 49.76%; IOCC status in focus
The company has informed the exchanges that total foreign investment in Swiggy stood at approximately 49.76 per cent of the total paid-up equity share capital as of July 6, 2026