MUMBAI: Startups preparing to go public are increasingly opting for the confidential IPO filing route.After Swiggy’s $1.4-billion IPO last year, filed through the confidential mode, sailed through, a clutch of firms including PhysicsWallah, Groww, Boat, and Shiprocket have taken this route. Lenskart and Meesho are also headed this way, sources said. While traditional companies such…
NEW DELHI: Govt is drawing comfort from its diversified oil purchases but is keeping close tabs on the situation in the Strait of Hormuz, which accounts for nearly a fifth of global oil consumption, in the wake of the US attack on Iran.The Strait – which serves as the primary export route for Persian Gulf…
NEW DELHI: As Indian auto industry faces a magnet supply crunch, following restrictions placed by China, a group of companies, including some homegrown advanced material entities, have come forward to build in-house supply chains.The companies have made presentations to govt, including the heavy industries ministry, and assured building of supplies within India to reduce dependence…
CHENNAI: India Cements is selling its subsidiary Industrial Chemicals and Monomers (ICML) to Mirai Sensing for Rs 97.7 crore. The company will enter into an agreement with Chennai-based Mirai Sensing and complete the sale within six months from the date of agreement, India Cements informed the stock exchange. India Cements board at its meeting, on…
India’s coffee exports have surged by 125 per cent over the past 11 years, touching $1.8 billion in 2023–24, up from $800 million in 2014–15, according to central government data.The rise in exports has been attributed to a series of policy measures implemented by the Coffee Board of India, including digitalisation of permits, export incentives,…
Seeking to plug systemic safety gaps exposed by recent accidents, the Directorate General of Civil Aviation (DGCA) has introduced a special-audit framework that promises a 360-degree evaluation of India’s entire aviation ecosystem, replacing the existing “silo” style of inspections.In a circular dated June 19, the regulator said the new mechanism transcends the current domain-wise checks…
Capital markets regulator Sebi has imposed penalties totalling Rs 29 lakh on six entities, including India Asset Growth Fund, its manager Essel Finance Advisors and Managers, and trustee Vistra ITCL (India) for multiple violations of AIF rules. The regulator levied a fine of Rs 11 lakh on IAGF, Rs 10 lakh on Arpan Sarkar and…
India’s reliance on crude oil imports is at approximately 90%, with Middle Eastern nations supplying more than 40% of these imports. (AI image) Iran-Israel war & Strait of Hormuz: With escalating tensions between Iran and Israel, especially after the US bombed nuclear facilities in Iran earlier today, there are rising fears of the Strait of…
ITR filing: Understanding the appropriate tax filing requirements is essential for freelancers. (AI image) Income Tax Return (ITR) e-filing FY 2024-25: ITR filing may be relatively straightforward for salaried individuals, but what about gig workers and those who earn through freelancing? With the rise of freelance and gig-based income, many individuals are unsure how to…
Aviation watchdog Directorate General of Civil Aviation (DGCA) has revised its operational guidelines for both scheduled and non-scheduled operators during adverse weather conditions, explicitly emphasising that safety must take precedence over “schedule adherence” and encouraging pilots to initiate diversions or air-turn-backs if required.Issuing an updated operations circular, the DGCA also advised pilots to cross-check visual…
