Category: Corporate

Categories
Corporate

Adani Kutch Copper ties up with Australia’s Caravel Minerals

Adani Enterprises’ copper arm, Kutch Copper, has signed an MoU with Caravel Minerals Ltd of Australia to secure copper concentrate for its $1.2 billion smelter in Gujarat.

Under the agreement, Kutch Copper will source up to 71,000 tonnes of copper a year from the Caravel Copper Project near Perth in Western Australia’s Murchison region. The partnership will also enable both countries to explore investment opportunities and work towards a final investment decision (FID) by 2026.

“Copper is the backbone of the global energy transition, and our partnership with Caravel Minerals strengthens India’s and Australia’s role in building a resilient and responsible supply chain for this vital metal,” said Dr. Vinay Prakash, CEO, Natural Resources, Adani Group.

The Caravel Copper Project is estimated to contain 1.3 million tonnes of payable copper with a mine life of more than 25 years. With an all-in sustaining cost of $2.07 per pound, it is expected to be among the world’s lowest-cost copper producers.

According to Caravel’s Managing Director, Don Hyma, the partnership represents a key milestone in unlocking the project’s full potential. He noted that the collaboration combines Adani’s downstream and infrastructure expertise with Caravel’s large-scale copper resource, built on a shared commitment to sustainable and long-term production.

The companies will also explore joint procurement and cross-border initiatives under the India-Australia Free Trade Agreement to strengthen bilateral trade, workforce development, and technology transfer.

As the world shifts toward electric vehicles and clean energy, the need for copper is expected to grow by almost 50% by 2040. The partnership between Caravel and Kutch Copper aims to help India and Australia play a major role in creating a reliable and eco-friendly supply of this important metal for the future.

Also Read: Infosys Sets Nov 14 Record Date for ₹18,000 Cr Buyback

Categories
Corporate

Infosys Sets Nov 14 Record Date for ₹18,000 Cr Buyback

Infosys Ltd has fixed November 14, 2025, as the record date for its ₹18,000-crore share buyback, marking one of the largest capital-return exercises in the company’s history.

In a stock exchange filing, the Bengaluru-based IT major said it would buy back up to 10 crore fully paid-up equity shares of face value ₹5 each at a price of ₹1,800 per share through the open market route. The buyback amount represents around 2.41 percent of Infosys’ total paid-up equity capital.

Approved by the board on September 11, the buyback aims to optimise the company’s capital structure, improve return ratios, and reward shareholders. The programme is expected to be completed over the next few months, subject to regulatory clearances.

Notably, Infosys’ promoters and promoter group, who hold approximately 13.05 percent of the company’s equity, have chosen not to participate in the buyback. Market analysts see this as a sign of management’s confidence in the company’s long-term growth prospects.

This is Infosys’ fifth buyback since 2017, and the largest by value. The company last conducted a ₹9,300-crore buyback in 2022 at ₹1,850 per share.

Infosys said the move reflects its commitment to returning surplus cash to shareholders while maintaining a strong balance sheet. The announcement came amid steady demand for digital transformation services and stable margins in the IT sector.

Shares of Infosys traded slightly higher after the announcement, with analysts noting that the buyback could help improve earnings per share and support valuations in the medium term.

Also Read: SEBI Widens IPO Anchor Investor Quota To 40%

Categories
Corporate

Sensex down 550 pts, Nifty under 25,350, Airtel, HUL drag

Indian markets opened lower on Friday, with the Sensex sliding over 550 points to around 82,824 and the Nifty falling below 25,350, marking a third consecutive session of losses.

Profit-booking and sustained foreign outflows weighed on sentiment, overshadowing positive cues from improving corporate earnings and progress in India–U.S. trade discussions.

Airtel and HUL were among the top laggards, while Asian Paints and Reliance Industries managed modest gains.

Broader markets also weakened, with the Nifty Midcap 100 down 0.9% and the Smallcap 100 falling 1.3%.

Also Read: M&M exits RBL Bank with 62.5% gain

Categories
Corporate

Reliance Cuts Russian Oil, Resells Middle Eastern Crude

Reliance Industries Ltd (RIL) is looking to re-sell Middle Eastern crude it recently purchased, in a rare move that follows a halt in Russian oil imports due to US sanctions.

The company stopped lifting cargoes from Russia’s Rosneft last month after US imposed sanctions and bought at least 12 million barrels of spot crude from the Middle East and the Americas.

Reliance, which has a long-term deal to buy nearly 500,000 barrels per day from Rosneft, has said it will comply with international sanctions while maintaining existing supply ties.

The US, EU and UK have tightened curbs on Moscow following its invasion of Ukraine, with fresh restrictions on Rosneft and Lukoil. Companies have until November 21 to wind down transactions with them.

To fill the gap, Reliance purchased 1 million barrels of Abu Dhabi Murban, 2 million barrels of Upper Zakum, 500,000 barrels of Qatar Land, 3 million barrels of Al-Shaheen and Khafji, 2 million barrels of Iraqi Basrah Medium, 2 million barrels of Brazilian Tupi and Sapi, and 2 million barrels of U.S. West Texas Intermediate.

The Middle Eastern cargoes are set to load in December, while Brazilian and US shipments are scheduled for December and January arrivals. Sellers include Totsa (TotalEnergies’ trading arm), BP, Gunvor, Aramco Trading, Repsol, Petrobras, Eni and Vitol.

Traders estimate Reliance’s total spot crude purchases could be closer to 16 million barrels, including undisclosed cargoes. The company is also believed to be seeking additional term supplies from Saudi Aramco, ADNOC, Kuwait Petroleum, and Iraq’s SOMO.

Also Read: SEBI Widens IPO Anchor Investor Quota To 40%

Categories
Corporate

SEBI Widens IPO Anchor Investor Quota To 40%

The Securities and Exchange Board of India (SEBI) has amended rules regarding the share-allocation framework for anchor investors in maiden public offerings. This strategy is aimed at broadening the participation of domestic institutional investors such as mutual funds, insurance companies and pension funds.

Under this, Sebi has increased total reservation in the anchor portion to 40 per cent from 33 per cent earlier. This comprises 33 per cent for mutual funds and the remaining 7 per cent for insurers and pension funds.

If the 7 per cent reserved for insurers and pension funds remains unsubscribed, it will be reallocated to mutual funds, the markets regulator said in a notification dated October 31.

SEBI has also the number of anchor investors allowed for IPOs with an anchor portion above Rs 250 crore, by raising the existing limit from 10 to 15 per Rs 250 crore.

This means, a minimum of 5 and a maximum of 15 investors shall be allowed for allocations up to Rs 250 crore. For every additional Rs 250 crore or part thereof, an additional 15 investors are to be permitted, subject to a minimum allotment of Rs 5 crore per investor, according SEBI.

Also, in the discretionary allotment under anchor portion, Category I (up to Rs 10 crore) and Category II (above Rs 10 crore up to Rs 250 crore) have been merged into a single category for allocations up to Rs 250 crore, with a minimum number of anchor allottees as 5 and maximum as 15 (minimum allotment 5 crore per investor).

The framework would broaden the participation of long-term institutional investors in the IPOs. To give these effect, the regulator has amended Issue of Capital and Disclosure Requirements norms, which would come into force from November 30.

Also Read: Orkla India IPO lists at ₹750, 3% Up

Categories
Corporate

Orkla India IPO lists at ₹750, 3% Up

Orkla India’s initial public offering (IPO), which opened for subscription from 29–31 October 2025, attracted strong investor interest but saw a muted debut on the stock exchanges. The IPO, priced in the ₹695–₹730 band, was entirely an Offer for Sale (OFS) of 2.28 crore shares, raising approximately ₹1,667.54 crore.

Allotment was completed on 3 November, and trading began on 6 November 2025 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Shares opened at ₹750.10 on the NSE, about 2.75% above the upper price band, and ₹751.50 on the BSE, roughly 2.95% higher. However, early gains evaporated quickly as the stock slipped during intraday trading, touching a low of ₹693.35 on the BSE, down 5–7% from the listing price.

Before listing, grey market premiums had suggested a 9% expected gain, higher than the eventual performance. Analysts say the strong subscription, around 48.73 times overall, signals investor interest, but the modest listing gain reflects a cautious market mood.

For existing shareholders, experts recommend holding for the medium to long term, citing Orkla India’s strong brand portfolio and growth prospects. New investors are advised to monitor post-listing trends, as any short-term correction could provide a better entry point.

Risks for the company include a concentration of sales in South India (70% of Q1 FY26 sales) and ongoing legal proceedings (124 cases) that could affect operations or finances. On the positive side, Orkla India benefits from established regional brands, a wide distribution networkof 834 distributors and 1,888 sub-distributors across 28 states and six union territories and exposure to India’s growing packaged-food market, valued at ₹10,180 billion in FY24 and projected to reach ₹17,120 billion by FY29.

Orkla India’s IPO highlights investor interest in branded convenience foods. Yet, the modest premium and early price dip underline the need to align expectations with market realities. While the long-term growth story remains intact, investors are advised to exercise caution amid short-term volatility and regional concentration risks.

Also Read: M&M exits RBL Bank with 62.5% gain

 

Categories
Corporate

M&M exits RBL Bank with 62.5% gain

Mahindra & Mahindra (M&M) has sold its entire 3.5% stake in RBL Bank for ₹678 crore, earning a 62.5% return in just over two years.

The sale comes as Emirates NBD prepares to acquire a majority stake in the lender through a $3-billion transaction, in what would mark the largest cross-border deal in India’s financial sector. Under the country’s stock market regulations, this transaction triggers a mandatory open offer, set to open on December 12.

M&M had bought the 3.53% stake in July 2023 for ₹417 crore as part of a long-term treasury investment.

With the Dubai-based bank now set to buy 60% of RBL for around $3 billion, M&M appears to have seized the opportunity to book gains. The open offer, priced at ₹280 per share, will open on December 12. RBL stock currently trades between ₹320 and ₹330.

India’s banking regulations cap foreign investment in private banks at 74%, while a single overseas investor can’t own more than 15% without RBI approval.

The RBL Bank open offer is priced at ₹280 apiece. The stock is currently trading at in the ₹320-330 range.

India allows 74% foreign investment in private banks but limits shareholdings of any single foreign institution to 15% unless regulator the Reserve Bank of India grants an exemption.

Also Read: Groww IPO Day 2 Has Strong 4× Retail Subscription

Categories
Corporate

Sensex Falls 148 pts, Nifty Below 25,550

Indian stock markets closed lower on Thursday, reversing early gains as investors took a pause after a strong rally in October.

The BSE Sensex fell 148 points, while the NSE Nifty50 slipped below 25,550. Among individual stocks, Powergrid declined nearly 3% and Eternal fell 2%.

Financial and metal stocks contributed most to the slide, while midcap and small-cap stocks faced steeper selling pressure. This marks the second consecutive session of losses for the broader market.

Analysts say the pullback reflects cautious investor sentiment after recent strong gains, suggesting markets may consolidate before resuming any upward trend.

Also Read: Sensex Up 300 Points, Nifty Over 25,600, Asian Paints, M&M Rise

Categories
Corporate

Groww IPO Day 2 Has Strong 4× Retail Subscription

Groww Software India Pvt Ltd’s ₹6,632 crore IPO, launched on 4 November, has seen robust demand, particularly from retail investors. The shares, priced at ₹95–₹100, are set to list on 12 November.

As of Day 2, overall subscriptions stood at 1.39 times, with retail investors leading at over 4×, non-institutional investors around 1.7–1.8×, and qualified institutional buyers at 0.15–0.18×.

The grey-market premium of ₹14.75 suggests a listing near ₹114.75, roughly 15% above the issue price.

Brokers cite Groww’s pan-India reach, in-house technology, strong revenue growth (~85% CAGR FY23–FY25), and reduced operating costs as key strengths.

Proceeds will fund cloud infrastructure, marketing, margin trading, NBFC expansion, and general growth. Analysts recommend “Subscribe” for listing gains, while noting risks from competition, regulation, and technology challenges.

Also Read: ₹1,060 Crore Groww IPO Gets 57% Day-1 Subscription

Categories
Corporate

Anil Ambani Summoned Again on Nov 14

Anil Ambani, chairman of the Reliance ADAG Group, has been summoned by the Enforcement Directorate (ED) for questioning on 14 November 2025 in connection with a money-laundering investigation.

The probe concerns alleged financial irregularities at Reliance Communications Limited (RCOM) and related group companies, where repayments of borrower loans were reportedly redirected to other entities, allegedly in contravention of sanction terms. Investigators say over ₹13,600 crore was diverted for loan evergreening, ₹12,600 crore channeled to connected parties, and over ₹1,800 crore invested in fixed deposits and mutual funds.

Earlier this week, the ED provisionally attached 132 acres of land at the Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at approximately ₹4,463 crore. In all, the agency has attached assets valued at more than ₹7,545 crore in the case so far.

The bank fraud reportedly involves outstanding loans of around ₹40,185 crore, dating back to borrowings taken between 2010-12, some of which five banks have declared as fraud. The ED’s investigation remains ongoing.

Also Read: Porter Lays Off 300–350 Staff, Prepares for IPO