Author: Sreelatha M

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Corporate

Aequs IPO set for launch with 35% GMP lift

Aequs Ltd is set to launch its Initial Public Offering (IPO) on December 3, with the three-day issue aiming to raise ₹922 crore through a mix of fresh equity and an offer for sale. The company has priced the issue at ₹118–124 per share, with a minimum bid size of 120 shares.

The offering has attracted early attention in the unlisted market. The grey-market premium (GMP) is hovering around 35%, indicating expectations of a robust listing. Market analysts say the pre-listing demand reflects confidence in Aequs’ position as one of India’s few fully integrated aerospace manufacturers.

Aequs supplies precision-engineered components to major global aircraft makers, including Airbus, Boeing, Safran, and Collins Aerospace. Its flagship aerospace operations contribute nearly 90% of its revenue, supported by a large industrial campus that brings machining, forging, and assembly under one ecosystem.

The company plans to deploy the IPO proceeds towards debt reduction, capital expenditure, and strategic growth initiatives, including potential acquisitions. Strengthening its balance sheet remains a key priority, given the capital-intensive nature of aerospace manufacturing.

While the business enjoys long-term contracts and strong client relationships, analysts point to notable risks. Aequs reported significant losses in FY25 and continues to rely heavily on a small set of global clients. Any slowdown in international aerospace demand or shift in customer sourcing could impact earnings.

Despite these challenges, the company’s global footprint and specialised manufacturing capabilities are seen as positives. With investor sentiment running high, the Aequs IPO is likely to be closely watched as one of the prominent listings in the aerospace-manufacturing space this year.

Also Read: Atomberg plans $200 million Mumbai IPO

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Corporate

Sensex lower by 65 points, Nifty nears 26200

The stock market cooled off on Monday after touching fresh record highs earlier in the day. The Sensex ended 65 points lower at 85,642, while the Nifty slipped 27 points to close at 26,176. Gains driven by upbeat GDP data and hopes of a rate cut faded through the session as investors booked profits and reacted to weak GST collections and a softer rupee.

Most sectors stayed mixed. Auto, IT, PSU banks and metal stocks held firm, while realty, consumer durables and pharma lost momentum. In the broader market, midcaps were flat and smallcaps saw a mild uptick.

Among the top performers were Adani Ports, Kotak Mahindra Bank, Tata Motors, Eicher Motors and Maruti Suzuki. On the losing side, InterGlobe Aviation, Bajaj Finance, Sun Pharma, Max Healthcare and Trent dragged the indices lower.

Overall, the market paused after its sharp rally, with traders watching global cues and domestic macro data for next direction.

Also Read: Sensex jumps 300 pts, Nifty crosses 26,300

Categories
Leaders

Elon Musk imagines a future where work is a choice

Elon Musk has once again pushed the conversation on the future of work into bold new territory. Speaking openly on Nikhil Kamath’s podcast, the Tesla and SpaceX chief painted a picture of a world where people wake up each day and choose to work, not because they must, but because they want to.

Musk believes rapid advances in artificial intelligence and robotics will soon be powerful enough to take over most routine and even skilled tasks. His timeline is striking: within just 10 to 20 years, he expects machines to generate the goods and services people need, making full-time jobs optional for many.

In Musk’s view, this shift could also transform the idea of money itself. If AI systems can produce almost everything at near-zero cost, traditional economic rules may no longer apply. “Work may become more like a hobby,” he suggested, something people would pursue for meaning, passion, or creativity instead of financial survival.

While his prediction sounds liberating, Musk acknowledged the transformations won’t be simple. Societies will need to rethink purpose, income models and the role of human contribution. But he remained optimistic that freeing people from compulsory labour could unlock a more creative, fulfilled world.

Also Read: Godrej Properties wins Hyderabad land for ₹4,150 cr project

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Corporate

Ahmedabad’s GIFT City expands as $100 billion financial hub

Ahmedabad’s GIFT City, the Gujarat International Finance Tec-City, is fast emerging as a major financial and urban hub, with total assets under management crossing $100 billion. The development surge has been further accelerated by Ahmedabad’s bid to host the 2030 Commonwealth Games, putting the city in the national and global spotlight.

The International Financial Services Centre Authority (IFSCA) now oversees over 1,034 registered entities, including 38 banks, across banking, insurance, fund management, fintech, and other sectors. The robust growth signals GIFT City’s transformation from a business district into a comprehensive financial ecosystem.

Infrastructure development is keeping pace with its financial growth. Around 930 residential units are already completed, with 7,000 more under construction. The city’s masterplan allows for up to 62 million sq ft of built-up space, of which nearly 30 million sq ft has been allotted. Experts anticipate close to 50% of the total development to be ready within the next 2–3 years.

GIFT City is designed as a fully integrated smart city. Its underground utility tunnels carry power, water, telecom, and waste systems, ensuring a “dig-free” surface as the city expands. Social and recreational amenities, including a 27-acre central park, riverfront development, jogging and cycling tracks, sports courts, plazas, and food and retail zones, aim to attract residents as well as office-goers.

The CWG 2030 bid has added urgency and visibility to the city’s growth, with improved connectivity on the horizon via metro expansion, a direct airport link, and high-speed rail plans. Analysts note that these developments position GIFT City not just as a financial hub, but as a modern, self-contained smart township, potentially serving as a blueprint for future integrated urban zones in India.

Also Read: Godrej Properties wins Hyderabad land for ₹4,150 cr project

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1 Minute-Read

Delhi, Mumbai air travellers may pay higher airport fees

Air travellers flying from Delhi and Mumbai may soon have to pay significantly higher airport fees.

A tribunal found that Indira Gandhi International and Chhatrapati Shivaji Maharaj airports under‑charged passengers between 2009 and 2014 by excluding assets like duty‑free shops, lounges, and parking.

To recover over ₹50,000 crore, User Development Fees (UDF) could rise sharply, domestic fees at Delhi may jump from ₹129 to ₹1,261, and international fees to ₹6,356.

The hike is under Supreme Court review, but if approved, flights will become noticeably costlier.

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Corporate

Wakefit IPO opens December 8, targets ₹1,400 crore

Wakefit Innovations, a leading Indian home-furnishing and sleep solutions company, is set to launch its Initial Public Offering (IPO) on 8 December 2025, which will remain open for subscription until 10 December. The company aims to raise ₹377.17 crore through fresh shares, while existing investors are expected to sell over 4.67 crore shares via an Offer-for-Sale (OFS), taking the total issue size close to ₹1,400 crore.

Promoters Ankit Garg and Chaitanya Ramalingegowda, along with early investors and private equity funds, are participating in the OFS. An anchor investor round is scheduled for 5 December. Allotments are expected on 11 December, with the shares listing on stock exchanges around 15 December.

The IPO allocation will see 75% reserved for institutional investors, 15% for non-institutional investors, and 10% for retail investors.

Wakefit plans to expand its retail footprint by opening 117 new company-owned stores across India. Funds will also be used for equipment, store leases, marketing, and general corporate purposes to support growth.

 For the six months ending September 2025, Wakefit reported a net profit of ₹35.57 crore on revenue of around ₹724–₹741 crore. For FY 2024–25, total revenue exceeded ₹1,300 crore, though the company posted a net loss of ₹35 crore. In FY 2023–24, Wakefit had a net loss of ₹15 crore.

The IPO is expected to help Wakefit strengthen its brand presence, expand retail operations, and continue growing in the competitive home-furnishing market.

Also Read: SW Solar soars on ₹1,381 crore Adani Green deal

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Corporate

SW Solar soars on ₹1,381 crore Adani Green deal

Shares of Sterling and Wilson Renewable Energy (SW Solar) jumped over 5 % on Monday after the company announced a landmark order from Adani Green Energy. Investors welcomed the news, reflecting confidence in SW Solar’s growing role in India’s renewable energy sector.

The company has bagged an EPC Balance-of-System (BOS) contract worth ₹1,381 crore, covering three large solar projects at the Khavda Renewable Energy Park in Gujarat. The order includes both the supply of materials and on-site installation, forming a significant part of one of the country’s largest renewable energy hubs.

Beyond this order, SW Solar and Adani Green have signed a five-year Strategic Partnership Framework Agreement to collaborate on future solar projects across India. This first order under the pact signals a deepening relationship between the two companies and reinforces SW Solar’s position as a leading EPC player in the solar space.

SW Solar’s management highlighted that this is their largest domestic EPC order this fiscal year, boosting their total order inflows to over ₹6,450 crore when combined with recent international projects, including one in South Africa. The Khavda projects alone will contribute significantly to the company’s ambitious targets, with 5 GW of capacity expected to be commissioned by the end of this fiscal year.

In early trade, SW Solar shares touched an intraday high of ₹238.50, up from the previous close of ₹225.96. Despite the recent surge, the stock has been down around 50 % year-to-date, reflecting broader market pressures in the renewable sector.

The Adani Green order and strategic partnership underscore SW Solar’s growing prominence in India’s renewable energy journey. With large-scale projects like Khavda, the company is not only expanding its footprint but also contributing meaningfully to India’s transition toward clean and sustainable energy.

Also Read: RBI fines HDFC bank ₹91 lakh for compliance lapses

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1 Minute-Read

RBI fines HDFC bank ₹91 lakh for compliance lapses

The Reserve Bank of India has fined HDFC Bank ₹91 lakh for multiple compliance lapses identified during its supervisory inspection of the bank’s 2023–24 financials.

The RBI found issues in how the bank followed rules under the Banking Regulation Act, including irregularities in applying interest-rate benchmarks on loans, shortcomings in outsourcing practices, and gaps in KYC (Know Your Customer) procedures.

The central bank clarified that the penalty is purely for regulatory non-compliance and does not affect the validity of customer transactions. HDFC Bank is expected to strengthen its internal controls to meet all supervisory and operational standards.

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Beyond

India, Indonesia near $450 mn BrahMos deal

India and Indonesia are moving a step closer to finalising a major defence deal involving the BrahMos supersonic cruise missile, following high-level talks in New Delhi on November 27. Defence Minister Rajnath Singh met Indonesia’s Defence Minister Sjafrie Sjamsoeddin, who was on an official visit to India, to review bilateral defence ties and discuss ongoing cooperation in the Indo-Pacific region.

According to officials, both sides have reached a “broad understanding” on the pricing of the proposed BrahMos sale, which is expected to be worth around $450 million. Singh also showed a model of the missile to the visiting minister as part of the discussions. If the deal is signed, Indonesia will become the second foreign customer of the BrahMos missile system after the Philippines, which secured a contract in 2022.

The talks reflect New Delhi’s growing emphasis on strengthening defence partnerships in the Indo-Pacific, especially with countries that share similar strategic concerns. India and Indonesia, both maritime nations with long coastlines and key sea lanes passing through their region, have been deepening military cooperation over the years.

During the meeting, the ministers reaffirmed their commitment to maintaining a free, open, stable and peaceful Indo-Pacific. They agreed to expand collaboration in several areas, including maritime security, cybersecurity, defence industry partnerships, and supply-chain resilience. Discussions also covered support for submarine maintenance, military healthcare collaboration, capability development, and logistics cooperation, areas seen as essential for long-term strategic alignment.

The BrahMos missile, jointly developed by India and Russia, is known for its precision, speed, and versatility. For Indonesia, acquiring BrahMos would significantly boost coastal defence and deterrence, particularly amid rising regional tensions.

The meeting marks an important step toward finalising the sale, though negotiations on technical and contractual details are expected to continue. Both governments view the potential deal as a symbol of growing trust and a shared vision for regional security.

Also Read: RBI tightens rules for safer digital banking

Categories
Technology

Apple to open fifth India store at Noida on Dec. 11

Apple is all set to open its fifth official retail store in India at DLF Mall of India, Noida, on December 11, 2025. This will be the company’s second store in the Delhi‑NCR region, following its flagship outlet in Saket, New Delhi.

The new store features a peacock-inspired design, reflecting a modern and vibrant look similar to Apple’s recent stores in Bengaluru and Pune. Inside, customers will be able to explore the full range of Apple products, including the latest iPhone 17 series, the M5-powered iPad Pro, and the 14-inch MacBook Pro.

Apple will provide personalized support through its Apple Specialists and Geniuses, helping customers with product setup, troubleshooting, and advice. The store will also host “Today at Apple” sessions, offering workshops on photography, music, art, coding, and creative skills, allowing users to learn and create in an engaging environment.

The Noida store is part of Apple’s larger plan to expand its physical presence in India, where demand for its products has been steadily growing. This expansion comes alongside Apple’s ongoing efforts to increase local manufacturing and operations, strengthening its position in the Indian market.

With this launch, Apple now has stores in Mumbai, Bengaluru, Pune, Delhi, and Noida, giving Indian customers access to its full range of products, services, and educational sessions. The move demonstrates Apple’s commitment to providing a complete, hands-on retail experience in India, combining shopping, support, and creativity under one roof.

Also Read: Adani drops long legal fight against Australian activist