Page 142 - Companies

Prasol Chemicals files draft papers with Sebi; eyes up to Rs 800 cr via IPO

Specialty chemical company Prasol Chemicals has filed preliminary papers with capital markets regulator Sebi to raise as much as Rs 800 crore through an initial share-sale. The IPO comprises fresh issue of equity shares aggregating up to Rs 250 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). The company may consider a further issue of equity shares aggregating up to Rs 50 crore. If such placement is completed, the fresh issue size will be reduced. As per market sources, the company is likely to raise around Rs 700-800 crore. The proceeds from the fresh issue to the tune of Rs 160 crore will be used for payment of debt and Rs 30 crore for working capital requirements. Besides, funds will be used for general corporate purposes. Since its inception, Prasol Chemicals, a forward integrated manufacturer of acetone and phosphorus derivatives, has expanded its business and scope of operations,

Impressive start: Super app 'Tata Neu' is a superhit among customers

Tata Neu's ranking slipped slightly over the past two days to Number 5 - behind Meesho, Flipkart's social commerce platform Shopsy

Irina Ghose named Microsoft India COO as Rajiv Sodhi gets global role in US

A Microsoft veteran for over two decades and a diversity and inclusion champion, Ghose has held a variety of strategy and sales leadership roles, most recently leading cloud solutions in India

Google-backed Glance launches live content platform for smart TVs

Glance TV aims to be present on approximately 30 per cent of all smart TVs in India soon

Nifty companies likely to see 29% surge in Q4 corporate earnings

Rise in combined net profit likely to be led by banks, oil & gas companies, and Tata Motors

India's major drug players bet on new brand launches, shows data

Industry insiders say brand launches are the lifeline of the pharma industry, and ensure steady volume growth and market share

NCLT approves Tata Steel Mining's resolution plan for Rohit Ferro-Tech

Tata Steel on Thursday said the Kolkata bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by its wholly-owned subsidiary Tata Steel Mining Limited, for the acquisition of debt-laden Rohit Ferro-Tech Limited. On June 6, 2021, Tata Steel had informed that the Committee of Creditors (CoC) in terms of the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, declared Tata Steel Mining Limited as the successful resolution applicant for the acquisition of Rohit Ferro-Tech Ltd, subject to necessary regulatory approvals including approval from the NCLT Kolkata bench. The NCLT on April 7, 2022, "orally pronounced its Order approving the Resolution Plan submitted by TSML for acquisition of Rohit Ferro-Tech Limited," Tata Steel said in a regulatory filing. However, Tata Steel did not divulge any further details related to its resolution plan in the filing. In a bid to augment its ferro alloys processing capacities, Tata

Amazon to face shareholder vote on treatment of warehouse workers

The decision means Amazon investors will get to vote on the issue for the first time, proponents said

Half of Canadian firms affected by conflict in Ukraine: Survey

Roughly half of Canadian firms expected to be affected by the conflict in Ukraine, results from a special business survey in March have showed.

HDFC twins merge in $40-bn deal; amalgamation may take 15 to 18 months

The country's largest housing finance company and the biggest private sector bank announced that their boards have approved an all-stock amalgamation of HDFC Ltd into HDFC Bank

Sashidhar Jagdishan on what the deal with HDFC means to HDFC Bank

Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, tells Manojit Saha what the deal with HDFC means to the bank and the opportunities it provides

Tangedco to raise Rs 7,600 cr via bonds; may import coal for summer demand

Tamil Nadu's state power utility has decided to import 4.8 lakh tonnes of coal as demand surges

NMDC's iron ore production rises 23% YoY to 42.15 MT in FY 2022

NMDC, the country's largest iron ore producer, said on Saturday its production increased by 23 per cent year-on-year to reach 42.15 million tonnes (MT) in FY22

Global cellular IoT module revenue grows 58% YoY in fourth qtr 2021

Global cellular IoT module revenue grew 58 per cent YoY in Q4 2021. China, the leading region in the cellular IoT module market, accounted for more than 40 per cent of the revenue

BS 1000: Most Valuable Indian Companies

#BS1000 | The financial year 2020-21 was one of recovery for corporates after the outbreak of the Covid-19 pandemic in the last quarter of FY20 and the subsequent national lockdown brought economic activity to a halt in the April-June 2020 quarter. The combined revenues of BS1000 companies were down just 6.1 per cent in FY21 over the previous year, despite a complete washout in the first quarter of the financial year. Top companies cornered a bigger chunk of revenues in many industries. Take a look at India's most valued companies

Edtech firm Vedantu launches platform for immersive live learning

W.A.V.E 2.0 technology measures more than 100 parameters using artificial intelligence and machine learning.

Reliance Group in letter defends its takeover of Future Retail stores

Reliance, has privately defended an abrupt takeover of the stores of debt-laden rival Future Retail, saying mounting dues of $634 million compelled it to act beyond expectations, a letter shows

VC firm HealthQuad announces close of second fund for young companies

The second fund of HealthQuad closed with a total subscription of $162 million: more than twice its target size at launch

Delhivery aims IPO for Q1 as market sentiment improves for large offerings

Offer is pegged to be around Rs 7,000 crore, rides on a positive outlook for sector

Two top IndiGo's executives quit in 2 days as Rahul Bhatia is named MD

IndiGo's Chief Commercial Officer Willy Boulter said he will resign after July, just a day after CFO Jiten Chopra quit the biggest budget airline in Asia by market value