Electric vehicle maker Ather Energy has cut the size of its planned IPO by a fourth—from ₹4,000 crore earlier to ₹3,000 crore—according to merchant bankers familiar with the development. However, the company is going ahead with its maiden offering in May, delayed by a month from its original timeline. The move is significant at a time when several other companies are reconsidering or indefinitely postponing their IPO plans amid sharp stock market corrections and uncertainty
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India has approved a major government-to-government agreement with France to procure 26 Rafale Marine fighter jets, government sources said. Valued at over ₹63,000 crore, the deal is expected to be signed shortly. Under the agreement, the Indian Navy will receive 22 single-seat and four twin-seat aircraft. In July 2023, the Ministry of Defence gave the green light to acquire Rafale-M fighter jets from France, primarily for deployment on the Indian-built aircraft carrier INS Vikrant. Deliveries
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Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday invoked a Mahabharat reference when asked about the extent to which monetary policy would need to support economic growth in the current global economic climate. “I am Sanjay, but not the Sanjay of Mahabharat to be able to foresee that far,” said the Governor, referring to the mythological figure Sanjay, who was believed to possess divine sight. “I do not have that divine vision that he had.”
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Mumbai-listed mining conglomerate Vedanta Ltd is hunting for a global partner for its $20-billion expansion projects spanning multiple segments. The company, in a statement, said the move aligns with Vedanta’s strategic plans to significantly expand its operations over the next three years, as it restructures into four entities– Vedanta Aluminium, oil and gas, power, and iron and steel. “We are looking for an experienced global engineering company with experience in engineering, procurement and construction management
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Love your two-wheeler? Delhi may soon say goodbye to petrol, diesel, and CNG bikes if the draft EV Policy 2.0 gets the green light. The policy proposes a complete ban on fossil-fuel-powered two-wheelers from August 15, 2026. As part of a larger strategy to curb Delhi’s air pollution, the draft EV Policy 2.0 also aims to phase out CNG-driven auto-rickshaws and fossil fuel-powered vehicles used by civic bodies for solid waste collection. The new policy is expected
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