Category: Corporate

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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

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Corporate

Government didn’t guide LIC’s Adani investments, says FM

Finance Minister Nirmala Sitharaman said the government did not issue any directions or advice to the Life Insurance Corporation of India (LIC) regarding its investments in the Adani Group. Responding to a question in the Lok Sabha, she emphasised that LIC’s decisions were made independently and in line with its standard operating procedures (SOPs).

Sitharaman said LIC has always made investment decisions based on company fundamentals, strict due diligence and regulatory norms. Over the years, the insurer has invested in several Adani Group companies after these checks. LIC currently holds shares worth ₹38,658.85 crore and debt worth ₹9,625.77 crore in various Adani firms.

She clarified that the Finance Ministry “does not issue any advisory or direction to LIC” on how it should invest its funds. Investment decisions, she said, are taken solely by LIC, governed by the Insurance Act, IRDAI rules, and regulations issued by SEBI and the RBI.

Her statement comes after a Washington Post report alleged that finance ministry officials pushed LIC to invest in the Adani Group earlier this year when the conglomerate was under global scrutiny. The report highlighted LIC’s ₹5,000-crore investment in secured non-convertible debentures of Adani Ports & SEZ in May 2025.

Sitharaman said the investment followed LIC’s due diligence process and board-approved policies. She added that LIC routinely invests in India’s largest companies. As of September 30, 2025, its investments in Nifty 50 firms amounted to ₹4.3 lakh crore, nearly 46% of its total equity portfolio.

The minister also detailed LIC’s internal oversight structure. Its investment operations are reviewed by concurrent auditors, statutory auditors, system auditors, internal vigilance teams, and are periodically inspected by IRDAI. “There is no direct oversight by the government on LIC’s investments,” she said.

Among private companies, LIC’s largest equity exposure is in Reliance Industries (₹40,901 crore), followed by Infosys, TCS, HDFC Bank, and Hindustan Unilever. Its biggest debt exposure is also with HDFC Bank (₹49,149 crore).

Within the Adani Group, LIC’s highest exposure is in Adani Total Gas (₹8,646 crore), ranking 25th among all its investments. Holdings in other Adani firms, including Adani Enterprises, Ambuja Cements, Adani Ports, Adani Energy Solutions, Adani Green Energy, and ACC fall further down the list.

Sitharaman also noted that LIC’s shareholdings of 1% or more in any listed company are already publicly available, as required under SEBI rules.

LIC, India’s largest institutional investor with assets of over ₹41 lakh crore, has repeatedly said its investments in the Adani Group were made independently, without any pressure from the Finance Ministry.

In an earlier statement, LIC said its decisions follow strict due diligence and comply fully with regulatory guidelines, adding that the Department of Financial Services “has no role” in its investment choices.

Also Read: Rupee slips to all-time low of 89.76 against dollar

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

Godrej Properties has become the highest bidder for a 5‑acre land parcel in Neopolis, Kokapet, Hyderabad, in a recent auction by the Hyderabad Metropolitan Development Authority (HMDA). The land is set to host a premium residential project spanning around 2.5 million square feet.

The new development could generate revenue of about ₹4,150 crore, reflecting the growing demand for high-end homes in Hyderabad’s sought-after neighbourhoods. Kokapet is particularly popular due to its proximity to the Financial District, HITEC City, top schools, hospitals, and shopping hubs.

This acquisition strengthens Godrej Properties’ presence in Hyderabad. Earlier this year, the company acquired another land parcel in Kukatpally, with a revenue potential of ₹3,800 crore. The latest purchase aligns with the developer’s strategy to expand aggressively in high-growth areas, aiming for multiple projects with a combined revenue potential of around ₹30,000 crore in the coming year.

For homebuyers, this means more luxury housing options in well-connected locations. For investors, it signals Godrej’s strong growth ambitions and confidence in Hyderabad’s real estate market.

Also Read: Meesho IPO opens ₹105–111 on December 3

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Meesho IPO opens ₹105–111 on December 3

Bangalore-based e-commerce startup Meesho is all set to make its stock market debut from 3 December, with the subscription window open till 5 December 2025. The IPO price band is set at ₹105–111 per share, giving the company a valuation of around ₹50,000 crore at the top end. Through this IPO, Meesho aims to raise roughly ₹5,421 crore, with the bulk coming from new shares and the rest from existing investors selling some holdings.

What sets Meesho apart is its focus on smaller towns and cities, often overlooked by giants like Amazon and Flipkart. Around 206 million of its 234 million users come from outside the top eight Indian cities. Its seller base has also grown, now boasting over 700,000 active sellers, many of them women entrepreneurs running small businesses.

Meesho’s business model, a zero-commission platform offering affordable products,  appeals to value-conscious buyers. Shoppers in smaller towns can discover inexpensive, everyday goods without paying a premium, while sellers can reach millions of buyers without hefty fees.

Investor sentiment is strong. In the grey market, Meesho’s shares show a premium of ₹42, indicating that the stock could list significantly higher than the IPO price. This enthusiasm reflects both the company’s growth story and the rising appetite for e-commerce in non-metro India.

The funds raised through the IPO will mainly be used to upgrade technology, expand infrastructure, and fuel marketing initiatives — helping Meesho continue its rapid growth and strengthen its presence across smaller towns.

With its focus on value, accessibility, and small-town India, Meesho is poised to redefine e-commerce in the country, offering a fresh alternative to traditional online marketplaces.

Also Read: Wakefit IPO opens December 8, targets ₹1,400 crore

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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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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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Sensex jumps 300 pts, Nifty crosses 26,300

Indian stock markets hit fresh lifetime highs as the Sensex rose nearly 300 points and the Nifty moved above the 26,300 mark. The rally was driven by stronger-than-expected GDP growth, improving investor sentiment, and hopes of an interest-rate cut in upcoming policy reviews.

Buying was seen across major sectors, with banking, auto and metal stocks supporting the uptrend. Among the top gainers were Adani Enterprises, M&M, Adani Ports, Sun Pharma and Hindustan Unilever, all contributing to the record run.

However, not all heavyweights joined the rally. SBI Life, Shriram Finance, HDFC Life, Power Grid and Bharti Airtel were among the notable losers, slipping due to profit-booking and sector-specific pressure.

Overall market sentiment remained upbeat as traders bet on continued economic momentum and favourable global cues, though analysts advised caution at elevated levels.

Also Read: RBI tightens rules for safer digital banking

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Adani drops long legal fight against Australian activist

Adani Group has ended its years-long legal battle against Australian activist Ben Pennings, who campaigned against the company’s Carmichael coal mine. The lawsuit, which at one point claimed damages of up to US$ 600 million, has now been formally dropped.

Under the court’s order, Pennings is barred from seeking or using Adani’s confidential business information or encouraging others to do so. However, he is still free to continue lawful protests and environmental activism.

Adani said the legal action was meant to protect its employees and contractors from harassment, not to seek financial gain. Pennings called the outcome a “massive victory,” describing the lawsuit as a tactic to intimidate critics.

The case highlights tensions between large corporations and environmental activists, raising questions about how legal actions are used to manage public dissent. The resolution may encourage other activists while reminding companies to carefully balance legal and public engagement.

Also Read: Zoho co-founder receives AI apology over secret leak