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Drone maker ideaForge Technology filed papers with capital markets regulator Sebi to raise capital via an initial public offering. The drone designer and manufacturer boasted of approximately 50% market share in Indian unmanned aircraft systems. The IPO comprises fresh issues of shares worth Rs 300 crore as well as an offer-for-sale (OFS), with the promoters and shareholders offloading 48.7 lakh shares with a face value of Rs 10 each. The proceeds from its fresh issuance Read More

India’s appetite for Russian crude oil in January rose to unseen levels, continuing to remain above traditional middle eastern suppliers for the fourth month in a row, as refiners rushed to snap up plentiful cargoes available at a discount to other grades. From a market share of less than 1 percent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s imports rose to 1.27 million barrels per day in Read More

ITC share price saw a volatile day of trade on Wednesday due to the tax hike in cigarettes, announced in Budget 2023. The ITC scrip saw a 6.6% fall intraday before soaring to a fresh 52-week high at Rs 365.65 on the BSE, up 3.7%. The tobacco giant continued to extend its gains on Thursday, gaining 7.4% over the course of two sessions. The share price traded at a discount of 0.5% at Rs 376.65 Read More

Jet fuel (ATF) price on Wednesday was hiked by 4 percent in line with firming international oil prices but petrol and diesel rates remained on freeze for a record 10th month in the running. Aviation turbine fuel (ATF) price was increased by Rs 4,218 per kilolitre, or 3.9 percent, to Rs 1,12,356.77 per kl in the national capital, according to a price notification of state-owned fuel retailers. The increase follows three rounds of reduction since Read More

Adani Enterprises’ follow-on public offer was fully subscribed on the last day of subscription, ie, Tuesday, January 31, 2023, with bidding still open. Qualified Institutional Buyers (QIBs) subscribed 0.97 times, Non-Institutional Investors(NIIS) subscribed 3.26 times, Retail Individual Investors (RIIs) subscribed 0.11 times, shares reserved for employees subscribed 0.52 times and in total out of 4,55,06,791 shares, 4,63,97,960 were subscribed. The FPO was subscribed 1.02 times. Abu Dhabi based, International Holding Company (IHC), on Monday said Read More