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According to market buzz, True North entity, Fettle Tone LLP, is looking to dilute 6.7 per cent, and its MD and CEO Krishnan Ramachandran plans to offload 0.5 per cent, through a block deal in Niva Bupa Health Insurance. The indicative price is likely to be ₹82 a share.
Bharat Coking Coal Ltd (BCCL), a wholly-owned subsidiary of Coal India Ltd (CIL), has filed a draft red herring prospectus (DRHP) with capital market regulator SEBI, as well as BSE and NSE, for its proposed initial public offering. In a regulatory filing on Saturday, CIL said the DRHP pertains to an offer for sale (OFS) of up to 46.57 crore equity shares by Coal India. The IPO remains subject to receipt of necessary approvals, market conditions, and other considerations, it added.
The government has cut the basic custom duty on crude palm oil, crude soyabean oil and crude sunflower oil by 10 per cent to bring down the prices of cooking oils and protect domestic processing industries. India imports more than 50 per cent of its domestic edible oil requirement. Among others, shares such as Ajanta Soya, Patanjali, AWL Agri Business, Sundrop Brands and Goku Agro will remain in focus.
Prestige Estates Projects Ltd will launch multiple housing projects across major cities this fiscal year with an estimated revenue of more than ₹42,000 crore, as it looks to expand business to capitalise on strong consumer demand. According to its latest investor presentation, Bengaluru-based Prestige Estates plans to launch as many as 25 residential projects having 44.80 million sq ft of developable area, with an estimated gross development value of ₹42,120 crore, in this financial year. These projects are lined up in Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR and Goa.
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) achieved another milestone today with the signing of a contract for the major refit of Lightship ‘Indira Point’. Under the contract, GRSE will carry out dry dock and afloat repairs, including maintenance of the vessel’s hull, propulsion, onboard systems, and critical machinery. The refit is scheduled to be completed within 300 days. The contract underscores the shared commitment to maintaining vital navigational assets that are key to the country’s economic and security interests.
Kotak Mahindra Bank on Saturday announced the promotion of Paritosh Kashyap, currently group president, to the post of executive director (ED), subject to regulatory approvals. Kashyap has been with the Kotak Group for over three decades and has been heading the wholesale banking business since 2022 He has led several key businesses including Structured Finance, Real Estate, and Debt Capital Markets during his long career with the Group. Â Kotak Mahindra Bank Ltd on Saturday said Deputy Managing Director Shanti Ekambaram will retire from her role effective October 31, 2025, marking the end of a more than three-decade-long stint with the financial services group.
Ircon International has received a work order worth ₹1,068.35 crore from East Central Railway, Indian Railway for Engineering, Procurement and Construction (EPC) of a New BG Rail Bridge (2×32.086m Open Web Steel Girder + 33×122.0 m Open Web Steel Girder) with sub-structure of double line Track and Superstructure of Single line Track across the River Ganga between Bikramshila and Katareah Stations on a New Railway Line Project invited by East Central Railway. The said order is expected to be completed in 1460 days.Â
The board of IFB Agro Industries has approved a proposal to acquire the entire commercial shrimp and freshwater fish feed business of Cargill India, marking a strategic move to consolidate its aqua feed operations. The acquisition – on a slump sale basis – includes Cargill India’s manufacturing facilities at Vijayawada and Rajahmundry in Andhra Pradesh, along with feed formulations, assets, business contracts, liabilities, licenses, employees, and other associated resources, the company said in a regulatory filing
IRB Infrastructure Trust, the country’s first listed Infrastructure Investment Trust, will transfer its three highway assets, having an enterprise value of around ₹8,450 crore, to IRB InvIT Fund. The share purchase agreement between the subsidiaries of infrastructure major IRB Infrastructure and Developers was executed on Friday.
Rail Vikas Nigam Ltd and Texmaco Rail & Engineering Ltd have signed a memorandum of understanding to drive innovation and accelerate modernisation in the railway infrastructure in India, a statement said. Announcing the strategic partnership, Texmaco in the statement said that the collaboration aims to combine complementary strengths enhancing capabilities across the sector.
InterGlobe Aviation (IndiGo) has tied up with Air France-KLM, Delta and Virgin Atlantic Airways offering passengers connections to over 30 destinations in the Europe and the US. While the partnership will enable IndiGo to drive occupancy on its Amsterdam and Manchester flights beginning July, it will help Delta and it’s European partner airlines to compete with Air India and Emirates, which have the highest share on the India-US and India -Europe routes. On Sunday, the airlines announced a code share partnership that will allow IndiGo to sell tickets on KLM flights to 30 destinations in Europe; Delta and KLM flights over Amsterdam to the US; and Canada and Virgin Atlantic flights to the US. — BL
Thomas Cook (India) on Friday announced a strategic partnership with Muthoot Forex, the foreign exchange division of the Muthoot Group, to expand the reach of its Borderless Travel and Study Buddy Cards.
KRN HVAC Products , a wholly-owned subsidiary of KRN Heat Exchanger and Refrigeration, has commenced commercial production and operations at its manufacturing plant located at Alwar, Rajasthan. The plant is engaged in the manufacture of heat exchangers and HVAC Products.
UGRO Capital, India’s leading DataTech driven MSME Financing NBFC, has announced that its Securities Allotment & Transfer Committee has approved the final terms of its rights issue. This decision follows the board’s May 20, 2025, announcement of a ₹915-crore preferential CCD issuance and a concurrent proposal to offer up to ₹400 crore on a rights basis to existing public shareholders. Under the approved terms, UGRO Capital will offer new equity shares totalling up to ₹400 Ccrore at a price of ₹162 per share. This pro-rata offering ensures that all existing public shareholders have a fair opportunity to maintain their stake and guard against dilution as the company continues to expand its balance sheet and deepen its DataTech advantage in serving India’s underserved MSMEs.
Published on June 2, 2025
This article first appeared on The Hindu Business Line
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