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Vishnu Prakash R Punglia Promoters’ Stake Sale: A Strategic Step to Enhance Liquidity
Business, Equities, Markets - September 6, 2025

Vishnu Prakash R Punglia Promoters’ Stake Sale: A Strategic Step to Enhance Liquidity

Vishnu Prakash R Punglia Promoters’ Stake Sale: A Strategic Step to Enhance Liquidity

Promoters of Vishnu Prakash R Punglia Ltd have sold 3.38% of their shares in the open market, channeling proceeds to strengthen company liquidity and affirming their long-term commitment to shareholders.

Introduction
The promoters of Vishnu Prakash R Punglia Ltd, a fast-growing infrastructure company, recently sold 3.38% of their equity holdings through an open market deal.
This transaction, confirmed by multiple financial news outlets, has generated curiosity and speculation among investors. Was it a routine stake trimming, or does it signify deeper strategic intent? A close look at the details reveals a clear narrative: the promoters remain committed to Vishnu Prakash R Punglia’s growth journey, while prudently boosting liquidity for operational expansion.

Details of the Promoter Stake Sale
As reported by Moneycontrol and TradingView, key promoters — Vishnu Prakash Punglia, Kamal Kishor Punglia, Sanjay Kumar Punglia, and Ajay Punglia — sold 3.38% of their stake via open market deals in August and early September 2025.
The sale was conducted in transparent fashion, adhering to SEBI regulations and designed to facilitate a smooth transition without market disruptions. The shares were sold to a broad set of institutional and retail investors, increasing the company’s free float and enhancing shareholder diversity.

Strategic Rationale: Financing Growth and Liquidity
One key reason for the sale — as stated in coverage by Scanx Trade and Moneycontrol — was to inject additional funds into the company as interest-free loans from the promoters. These proceeds will help Vishnu Prakash R Punglia tackle upcoming project commitments, support working capital cycles, and strengthen its balance sheet. Rather than signaling promoter exit or weakening confidence, this move explicitly aims to improve company liquidity, foster operational agility, and lay the groundwork for future growth.
This proactive approach demonstrates the promoters’ deep alignment with the company’s evolving needs and their long-term vision. It also boosts the stock’s transparency and investable appeal, often viewed favorably by institutional funds seeking active trading volumes.

Market Reactions and Analyst Views
Initial reactions across social media and brokerage platforms have been mixed but mostly constructive. While a minority of retail investors interpret such sales as caution flags, financial analysts and brokerage houses like Motilal Oswal have highlighted the strategic nature of the transaction. The company’s share price saw mild volatility post-disclosure, consistent with typical patterns following promoter stake changes, but ultimately stabilized as market participants digested the rationale.
The increased market float could lead to higher inclusion in index funds and ETFs, attracting a broader base of investors and providing greater visibility to the stock. Analysts underscore that liquidity strengthens financial flexibility, helping the company seize large-scale infrastructure opportunities, especially in a sector where project funding and resource efficiency are critical.

Impact on Corporate Governance and Trust
The sale, conducted above board with full regulatory compliance, enhances Vishnu Prakash R Punglia’s reputation for sound corporate governance. Promoters continue to hold significant stakes after the sale, underscoring their ongoing alignment and accountability.
By converting sale proceeds into interest-free loans, the team not only keeps “skin in the game” but reinforces their partnership with all shareholders, ensuring decisions benefit the entire investor community rather than just insiders.
A company’s ability to balance promoter holdings with open market liquidity is often seen as a hallmark of mature governance. The move is expected to improve overall market perceptions, helping Vishnu Prakash R Punglia stand out as a trustworthy and progressive infrastructure player.

Outlook: Poised for Growth
Looking ahead, Vishnu Prakash R Punglia Ltd is well-positioned for future expansion. The improved cash position and enhanced liquidity will aid in winning new contracts, ramping up execution in roads, water, and civil infrastructure, and weathering industry cycles more effectively. With promoters retaining significant holdings and making active choices to support company operations, management sentiment remains robust and optimistic.
Investors should watch for upcoming earnings releases and operational project updates, which will provide further clarity on how these new funds are being deployed for strategic growth.

Conclusion
The 3.38% open market share sale by Vishnu Prakash R Punglia’s promoters reflects a thoughtful and strategic effort to fortify company liquidity while maintaining strong leadership alignment. Enhanced governance, increased market float, and prudent financial deployment make this more than a routine transaction — it’s a signal of resilience and readiness for the next stage of growth in India’s infrastructure sector. Stakeholders and investors should interpret this move as a positive step toward broader market participation and long-term value creation.

 

 

 

 

 

 

 

 

 

 

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India, Singapore Sign Landmark Green Shipping & Aviation Pacts

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Ashok Leyland Kicks Off FY26 With Strong Q1 Performance

Ashok Leyland Kicks Off FY26 With Strong Q1 Performance

Double-Digit Profit Growth and Record Revenue Signal Momentum for Indian Commercial Vehicle Leader

Robust Financial Performance in Q1 FY26
Ashok Leyland, a flagship company of the Hinduja Group and one of India’s top commercial vehicle manufacturers, reported stellar results for the first quarter of fiscal year 2026 (April-June 2025). The company’s net profit for Q1 FY26 rose by approximately 13% year-on-year, reaching ₹594 crore. This strong performance was matched by record revenue, with the company surpassing previous benchmarks set in recent quarters. The steady profit growth and revenue expansion point to resilience in domestic demand and improved operational efficiency.

Factors Behind the Growth
Several key factors contributed to Ashok Leyland’s notable performance this quarter:
• Improved Realisations and Margins: The company enjoyed higher average selling prices, reflecting both increased demand and premium product adoption, contributing to expanded operating margins.
• Stabilizing Cost Environment: Lower input costs, efficient supply chain management, and a steady pricing strategy aided Ashok Leyland in protecting its bottom line, even as raw material prices showed pockets of volatility across the industry.
• Strong Domestic Demand: The Indian commercial vehicle market continues its recovery, driven by government infrastructure spending, buoyant freight movement, and urbanization trends.

Segment Performance and Operational Highlights
Medium and Heavy Commercial Vehicles Lead Growth
Ashok Leyland’s core medium and heavy commercial vehicle (M&HCV) segment delivered significant volume growth in Q1 FY26. This segment, vital for the company’s financial health, benefited from stronger construction and logistics activity nationwide.
Light Commercial Vehicles and Exports
The light commercial vehicle (LCV) division posted steady growth, while the company reported stable export figures—an encouraging sign given international market uncertainties. The focus on innovative, fuel-efficient models continued to attract fleet operators both in India and in select overseas markets.
Investment in Electric and Alternative Fuel Vehicles
Ashok Leyland continued to ramp up investments in its electric vehicle (EV) and alternative fuel segment. The quarter saw progress in next-generation technology development, securing strategic partnerships, and strengthening its presence in the rapidly emerging green mobility sector.
Share Market Response
After the Q1 FY26 results were announced, Ashok Leyland’s shares rose by almost 2%. This positive market response underscores investor confidence in the company’s business strategy, financial management, and future prospects. The results also beat many brokerage expectations, particularly on profit front, even though some revenue figures were slightly below consensus estimates.

Management Commentary and Strategic Outlook
Ashok Leyland’s management expressed optimism about maintaining growth momentum through the rest of fiscal year 2026. Leadership credited the company’s robust supply chain, increased digitalization, cost discipline, and proactive customer engagement efforts for the successful start to the year.
Key management priorities for the near-term include:
• Sustaining margin improvement by optimizing costs and enhancing product mix.
• Expanding reach into promising rural and semi-urban markets.
• Accelerating the roll-out of electric, CNG, and hydrogen-powered vehicles to align with evolving regulatory and customer demands.
• Deepening after-sales and financing solutions to support customer retention and brand loyalty.

Industry Context
The commercial vehicle sector in India remains a bellwether for the country’s economic activity, reflecting trends in infrastructure, manufacturing, and agriculture. The Q1 FY26 numbers from Ashok Leyland mirror a broader industry upswing, with many competitors also reporting improving volumes and profitability. However, the competitive landscape is evolving rapidly, with traditional rivals ramping up new launches and global players increasing their footprint.

Challenges Ahead
Ashok Leyland faces certain headwinds:
• Macroeconomic uncertainties could affect freight demand and capital investment.
• Regulatory tightening on emissions and fuel standards will require sustained investment in R&D and technology.
• Competition from both incumbent and new entrants, particularly in the EV segment, may put pressure on market share and pricing power in coming quarters.

Conclusion
Ashok Leyland’s strong Q1 FY26 performance sets a dynamic tone for the rest of the year. The company’s ability to deliver sustained profit growth, expand its footprint in both traditional and new energy vehicle segments, and maintain investor confidence bodes well for its status as a sector leader. With a clear focus on innovation, market expansion, and operational excellence, Ashok Leyland is well-positioned to capitalize on emerging opportunities and navigate challenges in the quarters ahead.

 

 

 

 

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Madhur Industries Q1 FY26: Modest Gains, Ongoing Losses, Turnaround Hopes

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Swiggy’s Financial Turnaround: Losses Narrow, Quick Commerce Surges in 2024

Swiggy’s Financial Turnaround: Losses Narrow, Quick Commerce Surges in 2024

India’s food delivery giant Swiggy slashes annual losses by 30% as quick commerce arm Instamart drives record growth, but competition and expansion keep profitability elusive.

Swiggy’s Financial Performance in 2024
Swiggy’s financial results for calendar year 2024 mark a pivotal moment for the company. According to a recent update from key investor Prosus, Swiggy’s adjusted EBITDA loss shrank by 30%, dropping to $182 million from $261 million the previous year. This turnaround is particularly noteworthy given the company’s continued heavy spending on its quick commerce arm, Instamart.
The company’s Gross Order Value (GOV) rose by 29% year-on-year, propelled by robust growth in both food delivery and the rapid expansion of quick commerce services. In Q1 FY 2025, Swiggy’s gross order value (GOV) jumped by almost 40% y-o-y, driven by an 18% rise in food delivery and a remarkable 101% growth in its quick commerce segment.

Quick Commerce: The Growth Engine
Instamart, Swiggy’s quick commerce vertical, has emerged as the primary driver behind the company’s improved financials. Instamart posted a 101% year-on-year increase in GOV during Q4 FY25, touching ₹4,670 crore. This growth was supported by the addition of 316 new dark stores—more than the total added in the previous eight quarters combined—and expansion into 124 cities.
The average order value on Instamart also increased by 13% to ₹527 in the fourth quarter, indicating higher consumer engagement and larger basket sizes. Swiggy’s management attributes this rapid expansion to strategic investments in market reach, store network, and differentiated offerings such as Maxxsaver and Megapods, which are designed to enhance customer experience and operational efficiency.

Expansion and Innovation
Swiggy’s rapid expansion in quick commerce goes beyond just opening new stores. The company has introduced several new initiatives to attract and retain customers:
• Bolt: Since its October debut, Bolt has contributed close to 9% of Swiggy’s total food delivery volume, helping attract new users and increase average order values.
• Snacc: A 10-minute food delivery service, catering to the growing demand for ultra-fast deliveries.
• Swiggy Scenes: A new feature focusing on restaurant event reservations, similar to Zomato’s dine-out offerings.
• Premium Subscription (One BLCK): Targeting high-value customers with exclusive benefits.
These innovations, along with a focus on segmented offerings and new categories within quick commerce, have helped Swiggy capture more consumption occasions and diversify its revenue streams.

Financial Headwinds: Losses Remain High
Despite narrowing its adjusted EBITDA loss, Swiggy’s overall net losses remain substantial. In Q4 FY 2025, the company posted a net loss of ₹1,081 Cr—almost twice the ₹554 Cr loss recorded in the year-ago quarter. For the full fiscal year, Swiggy’s loss widened by 33% to ₹3,117 crore, even as consolidated operational revenue grew 35% to ₹15,227 crore.
The primary reason for these persistent losses is the company’s aggressive investment in expanding its quick commerce footprint. Swiggy’s expenses have surged, driven by infrastructure development, logistics enhancements, and marketing costs necessary to compete in a market characterized by intense rivalry and rapid innovation.

IPO and Shareholder Movements
Swiggy’s financial journey in 2024 was also marked by a successful public market debut. The company completed a ₹11,400 crore ($1.37 billion) IPO in November, with Prosus reducing its stake to 24.8% and realizing $2.8 billion in value from its original holding. This influx of capital has enabled Swiggy to accelerate its growth initiatives, particularly in quick commerce.

Competitive Landscape and Future Outlook
Swiggy’s rapid expansion comes amid heightened competition from rivals such as Zomato, Blinkit, and Zepto, all vying for dominance in the quick commerce space. The sector is witnessing a phase of rapid innovation, with companies racing to offer faster deliveries, broader product assortments, and deeper market penetration.
Swiggy’s CEO Sriharsha Majety remains optimistic, emphasizing the company’s focus on balancing food delivery margin expansion with growth investments in quick commerce. The company aims to double its quick commerce business space in the second half of FY25, signaling continued momentum in store additions and market coverage.

Conclusion
The company’s 2024 performance reflects the significant role quick commerce is playing in transforming India’s digital landscape. By narrowing its losses and doubling down on Instamart, Swiggy has positioned itself as a formidable player in both food delivery and grocery segments. However, the path to sustained profitability remains challenging, with high operational costs, ongoing investments, and fierce competition shaping the road ahead.
As Swiggy continues to innovate and expand, its ability to balance growth with financial discipline will determine its long-term success in the evolving Indian market.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Kalpataru Secures ₹708 Crore from Anchor Investors!

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Emcure Pharma’s Full Acquisition of Zuventus Healthcare: A Strategic Leap in Indian Pharma

Emcure Pharma’s Full Acquisition of Zuventus Healthcare: A Strategic Leap in Indian Pharma

Emcure Pharmaceuticals is set to acquire the remaining 20.42% stake in Zuventus Healthcare for ₹724.9 crore, clearing the path for full ownership and improved operational integration.

Introduction
Emcure Pharmaceuticals has announced its decision to buy out the remaining 20.42% minority stake in Zuventus Healthcare for Rs 724.9 crore. This development will transform Zuventus into a wholly owned subsidiary, enabling Emcure to streamline its operations, enhance its domestic footprint, and tap into new growth prospects within India’s dynamic pharmaceutical market.

Emcure’s Strategic Acquisition: The Details
Emcure Pharmaceuticals, a prominent player in India’s pharmaceutical sector, has secured board approval to purchase the remaining 20.42% stake in Zuventus Healthcare from minority shareholders. The deal, valued at Rs 724.9 crore, will be executed in cash and may be settled in one or more tranches, depending on the closure timeline and final valuation.
Currently, Emcure holds a 79.58% stake in Zuventus. Following the completion of the deal, anticipated in the September quarter of FY26, Emcure Pharmaceuticals will gain full ownership of Zuventus Healthcare, making it a 100% subsidiary.

Why This Acquisition Matters
Full Financial and Operational Control
By moving to 100% ownership, Emcure will be able to:
• Fully consolidate Zuventus’s financials into its own, simplifying reporting and improving transparency.
• Align business strategies across both companies, unlocking operational synergies and eliminating any management or shareholder conflicts.
• Drive long-term value creation by leveraging the strengths of both entities in the domestic market.

Strategic Focus on the Indian Market
Emcure has emphasized that the domestic market remains a top priority. This acquisition will help the company:
• Strengthen its position in India’s pharmaceutical sector, which is marked by intense competition and rapid growth.
• Streamline its product portfolio and sales channels, ensuring better market penetration and customer reach.
• Unlock new opportunities for launching innovative therapies and expanding its reach in key therapeutic segments.

Financials and Transaction Structure
• Deal Value: Rs 724.9 crore, to be paid in cash based on a formal valuation.
• Current Holding: Emcure owns 79.58% of Zuventus Healthcare.
• Stake to Be Acquired: 20.42% from minority shareholders.
• Expected Completion: July–September quarter of FY26, subject to regulatory and procedural formalities.
• Zuventus Financials: For the year ending March 31, 2025, Zuventus reported revenue of Rs 1,080 crore and net income of Rs 130 crore.

Industry Impact and Future Outlook
Consolidation Trend in Indian Pharma
This acquisition is part of a broader trend in the Indian pharmaceutical industry, where leading firms are consolidating their holdings to improve efficiency, scale, and market reach. With full integration of Zuventus, Emcure aims to strengthen its competitive edge against both domestic and global pharmaceutical companies.
Operational Synergies
With complete ownership, Emcure can:
• Optimize supply chains and manufacturing processes.
• Integrate research and development efforts.
• Enhance marketing and distribution networks.
• Accelerate decision-making and reduce administrative overhead.
These synergies are expected to improve margins, foster innovation, and support the launch of new products.
Investor and Market Reactions
The deal has been well received by analysts, who see it as a positive step for Emcure’s long-term growth. Full consolidation of Zuventus is expected to provide clarity to investors and potentially boost Emcure’s valuation in the public markets.

What’s Next for Emcure and Zuventus?
Once the transaction is completed, Emcure will focus on:
• Integrating Zuventus’s operations and teams.
• Leveraging Zuventus’s strong presence in select therapeutic areas.
• Exploring new product launches and market expansion opportunities.
• Delivering on its promise of value creation for shareholders and stakeholders.
With the Indian pharmaceutical market projected to grow steadily over the next decade, Emcure’s move to fully acquire Zuventus places it in a strong position to capitalize on emerging opportunities and navigate industry challenges.

Conclusion
Emcure Pharmaceuticals’ Rs 724.9 crore acquisition of the remaining stake in Zuventus Healthcare marks a significant milestone in its growth journey. By securing full ownership, Emcure is set to enhance its operational efficiency, strategic alignment, and market competitiveness. The move underscores the company’s commitment to consolidating its domestic leadership and driving long-term value in India’s dynamic pharmaceutical sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Shivalic Power Control Ltd Secures Major Domestic Orders, Reinforcing Industry Leadership

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Seizing Opportunity in Uncertainty: Inside Jio Financial’s Growth Strategy

Seizing Opportunity in Uncertainty: Inside Jio Financial’s Growth Strategy

Jio Financial Services Gears Up for Next Growth Phase with Jio Payments Bank Acquisition and Mutual Fund Launch

Jio Financial Services: Recent Developments
Full Control of Jio Payments Bank
Jio Financial Services Limited (JFSL) disclosed, that it had purchased 79.08 million equity shares of Jio Payments Bank Limited (JPBL) from SBI for a total of ₹104.54 crore. This transaction, approved by the Reserve Bank of India earlier in the month, marks the transformation of JPBL from a joint venture into a wholly owned subsidiary of JFSL. Prior to this, JFSL held an 82.17% stake, with SBI owning the remaining 17.83%.
This strategic consolidation is expected to give JFSL greater flexibility in expanding its digital banking and payments ecosystem, allowing for seamless integration of services and improved customer offerings.
Financial Performance: Growth Amidst Challenges
Jio Financial Services posted a revenue of ₹493.2 Cr for the March 2025 quarter, marking an 18% y-o-y growth. PAT for the same period rose to ₹316 crore, up from ₹310.6 crore the previous year. The company’s assets under management (AUM) saw a dramatic surge, climbing from ₹173 crore to ₹10,053 crore as of March 31, 2025. This impressive growth was driven by an aggressive expansion in lending, leasing, and digital financial services.
Jio Payments Bank has demonstrated significant growth, tripling its customer base to 2.31 million while also increasing its CASA and wallet deposit volumes.
These numbers highlight the rising acceptance of Jio’s financial offerings and the strengthening impact of its digital-first approach.
Share Price Performance: Recent Slide
Despite these positive business developments, Jio Financial Services’ share price has experienced a downward trend over the past week. The stock settled at ₹288.15 on June 19, 2025, after trading within a range of ₹282.7 to ₹290.6. The share price is currently down about 22% from its 52-week high of ₹368.3, though it remains significantly above its 52-week low of ₹198.65. The company’s market capitalization stands at over ₹1.8 lakh crore.
This recent slide is partly attributed to broader weakness in the Indian stock market, as well as investor concerns over valuations and profit booking after a strong run earlier in the year. Nonetheless, the company’s fundamentals remain robust, supported by steady revenue and profit growth.

Strategic Expansion: Mutual Fund Ambitions
A major highlight for Jio Financial Services is its upcoming entry into the mutual fund business. In late May 2025, Jio BlackRock Asset Management—a 50:50 joint venture between JFSL and global investment giant BlackRock—received regulatory approval from SEBI to launch mutual fund operations in India. The collaboration seeks to leverage Jio’s extensive digital presence and deep understanding of the local market alongside BlackRock’s global investment acumen and advanced risk management tools.
The new asset management company plans to adopt a digital-first strategy, targeting India’s rapidly growing base of retail investors. By offering competitive pricing, clear product structures, and cutting-edge risk management capabilities, Jio BlackRock is well-placed to transform the mutual fund space and appeal to both retail and institutional investors.

Business Model and Revenue Streams
Jio Financial Services generates revenue through a diversified set of activities:
• Lending and Leasing: The core of its business, providing loans and leasing financial products.
• Digital Payments and Banking: Through Jio Payments Bank, the company earns fees from digital transactions and banking services.
• Insurance Broking: Commissions from the sale of insurance policies via its platform.
• Device Leasing: Leasing Jio-branded devices such as Wi-Fi routers and smartphones.
• Mutual Fund Management: The soon-to-be-launched Jio BlackRock venture will add management fees from mutual fund products to the revenue mix.
This multi-pronged approach allows JFSL to tap into multiple high-growth segments of India’s financial services sector.

Market Outlook: Opportunities and Risks
Jio Financial Services has reached key milestones with the acquisition of Jio Payments Bank and its upcoming mutual fund launch. These moves position the company to benefit from India’s ongoing digitalization and the rising demand for modern financial products.
However, the recent decline in share price highlights the market’s sensitivity to broader economic conditions and company-specific factors such as valuation concerns. While short-term volatility may persist, JFSL’s strong fundamentals and ambitious growth plans provide a solid foundation for future performance.

Conclusion
Jio Financial Services stands at a pivotal juncture, As Jio Payments Bank becomes fully integrated and its mutual fund venture approaches launch, the company is strongly positioned to tap into India’s digital finance boom. While recent market volatility has weighed on its share price, the underlying business momentum and strategic vision suggest that JFSL remains a key player to watch in the evolving financial landscape.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Zaggle Prepaid: Ashish Kacholia-Backed Stock Delivers Multibagger Returns in Under Two Years

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BlueStone Eyes $1.2B Valuation Ahead of IPO

BlueStone Eyes $1.2B Valuation Ahead of IPO

With a soaring valuation, robust financial growth, and strong investor interest, BlueStone is poised to become India’s next unicorn as it readies for a landmark public market debut.

Introduction
BlueStone, one of India’s leading omnichannel jewellery brands gearing up for its IPO, is on track to achieve unicorn status. Recent secondary transactions and funding rounds have valued the Bengaluru-based company at approximately $1.2 billion (Rs 10,500 crore), marking a 30% jump from its last valuation. As BlueStone prepares for a major IPO, the company’s growth trajectory, investor exits, and financial performance are drawing significant attention in the startup and retail sectors.

BlueStone’s Valuation Soars: The Road to Unicorn Status
BlueStone’s journey toward unicorn status has accelerated in recent months. Recent secondary transactions involving existing and incoming investors have elevated the company’s valuation to ₹10,500 crore ($1.2 billion), a significant rise from ₹8,100 crore during its August 2024 funding round. This leap reflects both the company’s robust revenue growth and the bullish sentiment among investors toward India’s organised jewellery sector.
The unicorn milestone is not just symbolic; it signals BlueStone’s readiness to compete with legacy players and digital-first brands alike. The company’s omnichannel strategy, which blends online and offline retail, has enabled it to capture a broad customer base and adapt quickly to shifting market dynamics.

IPO Plans: Structure and Strategic Moves
BlueStone’s IPO preparations are in full swing. BlueStone submitted its DRHP to SEBI in December 2024 and received the regulatory nod in April 2025. The public offering is expected to include:
• A proposed ₹1,000 crore capital raise
• An offer-for-sale (OFS) of nearly 24 million shares, allowing early investors and venture capital funds to partially or fully exit their stakes
Major investors such as Accel, Saama Capital, IvyCap Ventures, and Kalaari Capital are set to participate in the OFS, while Singapore-based RB Investments will make a complete exit, reportedly earning a 10–12x return on its investment. Wealth management firms such as 360 One and Centrum Wealth are enabling secondary transactions valued between ₹300–350 crore in the run-up to the IPO.

Funding Momentum and Investor Confidence
BlueStone’s funding history underscores its appeal to both domestic and international investors. In August 2024, BlueStone closed a ₹900 crore funding round backed by investors such as Peak XV Partners, Prosus, Steadview Capital, Think Investments, and Pratithi Investments, led by Infosys cofounder Kris Gopalakrishnan. BlueStone raised ₹40 crore in debt financing from BlackSoil and Caspian Impact Investments in May 2025, further strengthening its financial position.
BlueStone’s rising valuation reflects the broader growth momentum within India’s jewellery industry. The Tata Group’s acquisition of CaratLane at a Rs 17,000 crore valuation has sparked renewed investor interest in omnichannel jewellery brands, with startups like Giva also attracting significant capital.

Financial Performance: Revenue Growth and Profitability Trends
BlueStone’s financials reflect a company in rapid expansion mode. The retailer posted revenues of ₹1,266 crore for FY24, marking a 64% year-on-year growth. Losses have narrowed as well, with the FY24 net loss shrinking to Rs 142 crore, down from Rs 167 crore in the previous year.
The momentum has carried into FY25, with BlueStone posting operating revenue of Rs 348 crore and a net loss of Rs 59 crore in the first quarter alone. This trajectory signals improving operational efficiency and a path toward profitability, a key consideration for public market investors.

Sector Context: Jewellery Retail’s Digital Revolution
BlueStone’s rise comes amid a broader digital transformation in India’s jewellery market. The company’s omnichannel approach—combining a strong online presence with physical stores—has given it an edge in a sector traditionally dominated by legacy brands. This model allows BlueStone to offer customers convenience, transparency, and a wide assortment of designs, while also building trust through in-person experiences.
Investor enthusiasm for the sector is also buoyed by the success of peers like CaratLane and the growing trend of organized retail in jewellery, which is rapidly eating into the market share of unorganized players.

Conclusion
BlueStone’s imminent unicorn status and IPO plans mark a watershed moment for India’s jewellery retail industry. With a $1.2 billion valuation, strong revenue growth, and a blend of digital and physical retail strategies, the company is well-positioned to capitalize on changing consumer preferences and investor appetite. As BlueStone readies for its public debut, its journey will be closely watched as a bellwether for the future of omnichannel retail and the broader startup ecosystem in India.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Gujarat Penny Stock Surges 20% After ONGC Contract Win

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Fueling the Future: Investment Highlights of Sigachi’s Hyderabad Facility

Fueling the Future: Investment Highlights of Sigachi’s Hyderabad Facility

Hyderabad-based Sigachi Industries stakes its future on innovation with a $1 million R&D center, prompting a market rally and signaling a strategic shift in India’s pharmaceutical landscape.

Introduction
Sigachi Industries, a small-cap pharmaceutical company specializing in excipients and APIs, saw its shares climb nearly 2% on June 18, 2025, after unveiling a state-of-the-art R&D center in Hyderabad. Backed by an investment of up to $1 million, the new facility aims to fast-track the development of essential APIs, strengthen regulatory adherence, and expand the company’s innovation capabilities for international markets. This move underscores Sigachi’s ambition to climb the pharma value chain and respond to the increasing demands of a tightly regulated, rapidly evolving industry.

Sigachi’s Strategic Leap: The Hyderabad R&D Center
On June 18, 2025, Sigachi Industries officially inaugurated its advanced Research & Development (R&D) Center in Hyderabad, marking a pivotal moment in the company’s growth journey. The new facility is more than just an infrastructure upgrade; it is a cornerstone of Sigachi’s plan to consolidate API development and analytical capabilities under one roof, thereby streamlining operations and accelerating product innovation.
The company’s leadership, led by Managing Director and CEO Amit Raj Sinha, emphasized that the R&D center is a “strategic asset” designed to create long-term value for customers, partners, and stakeholders. Through the integration of cutting-edge synthesis, analytical, and regulatory infrastructure, Sigachi seeks to streamline development processes and enhance its responsiveness to evolving global pharmaceutical demands.

Sigachi Boosts Innovation with Focused R&D Investment in Hyderabad
Sigachi’s dedication to advancing innovation is evident in its allocation of up to $1 million for the Hyderabad-based R&D centre. The facility will focus on:
• API Synthesis and Analytics: Integration of cutting-edge systems to develop and analyze high-priority Active Pharmaceutical Ingredients (APIs) and complex intermediates.
• Regulatory Compliance: Enhanced capabilities for regulatory filings, ensuring faster and more robust alignment with international standards.
• Talent and Portfolio Realignment: Empowerment of a specialized research team to drive product development for global markets, with a strategic focus on high-demand therapeutic segments.
The center is expected to serve as a hub for Sigachi’s innovation roadmap, strengthening its ability to respond to evolving regulatory requirements and emerging health challenges. By integrating core R&D functions, Sigachi seeks to explore new therapeutic segments and reinforce its position as a dependable partner in the pharma sector.

Market Response: Share Price Movement and Analyst Insights
The market responded positively to the announcement. On June 18, shares of Sigachi Industries opened at ₹54.90, up from the previous day’s close of ₹54.72, touched an intraday high of ₹55.62, and later moderated as the session progressed. The nearly 2% rally reflected investor optimism about the company’s enhanced innovation capabilities and long-term growth prospect.
Analysts highlighted that the R&D expansion could help Sigachi move up the pharmaceutical value chain, reduce dependence on external research partners, and potentially improve profit margins. The timing is significant, coming as the global pharmaceutical industry faces heightened regulatory scrutiny and supply chain challenges. Sigachi’s proactive investment in R&D is seen as a strategic move to ensure resilience and competitiveness in this environment.

Broader Strategic Context: Moving Up the Value Chain
Sigachi Industries, long recognized for its leadership in microcrystalline cellulose (MCC) and excipients, is now aggressively expanding its presence in the API segment. The Hyderabad R&D center is a key part of this strategy, enabling the company to:
• Accelerate API Development: By centralizing R&D efforts, Sigachi can speed up the journey from research to commercialization, especially for regulated and semi-regulated markets.
• Enhance Regulatory Readiness: The facility’s advanced analytical capabilities will help Sigachi meet stringent international compliance standards, opening doors to new export opportunities.
• Support India’s Pharma Ambitions: The move aligns with the “Make in India” mission, strengthening domestic innovation and reducing reliance on imports for critical pharmaceutical ingredients.

Leadership Vision: Building for the Future
Amit Raj Sinha, Managing Director and CEO, has articulated a clear vision for Sigachi’s future. He sees the Hyderabad R&D center not just as an investment in infrastructure, but as a catalyst for operational depth, continuous innovation, and enduring stakeholder value. The company’s focus on advanced APIs and complex intermediates is expected to drive growth in both domestic and international markets.

Conclusion
Sigachi Industries’ decision to invest $1 million in a cutting-edge R&D center in Hyderabad marks a transformative step for the company and the broader small-cap pharma sector in India. The facility is set to accelerate API innovation, enhance regulatory compliance, and position Sigachi as a forward-thinking player in the global pharmaceutical landscape. The positive market response underscores investor confidence in the company’s strategic direction and its ability to adapt to the evolving demands of the industry.
As regulatory requirements and supply chain complexities continue to shape the pharma sector, Sigachi’s focus on in-house innovation and operational excellence is likely to yield long-term dividends for shareholders, partners, and patients alike.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Vedanta’s First Interim Dividend for FY26: What Investors Need to Know

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United Drilling Tools Stock Climbs on ₹107 Crore Order Boost from ONGC

United Drilling Tools Stock Climbs on ₹107 Crore Order Boost from ONGC

A milestone agreement with ONGC paves the way for significant growth at United Drilling Tools Ltd., reviving investor confidence and driving the company toward a stronger future.

Introduction
The Indian oilfield equipment sector witnessed a significant development as United Drilling Tools Ltd (UDTL) secured a prestigious order from ONGC, India’s foremost oil and gas producer. The news sent UDTL’s stock soaring to its 20% upper circuit, reflecting overwhelming investor optimism and confidence in the company’s future trajectory.

The ONGC Order: Details and Significance
Order Overview
• Customer: ONGC
• Order Value: ₹107.5 crore (including GST)
• Product: Large outer diameter (OD) casing pipes with connectors
• Execution Timeline: Approximately nine months
• Impact: • Impact: Order volume increases to between ₹250 and 280 crore.
This contract is a testament to UDTL’s technical capabilities and its reputation as a reliable supplier of critical oilfield equipment. The order will be fulfilled over the next nine months, ensuring a steady revenue stream and operational momentum for the company in FY26.

Market Reaction: Stock Hits 20% Upper Circuit
Following the announcement, UDTL’s share price jumped 20% to ₹243.05, up from its previous close of ₹202.55. The surge was accompanied by record trading volumes, signaling strong buying interest and renewed faith in the company’s growth prospects. The market capitalization rose to nearly ₹490 crore, further cementing UDTL’s position among leading oilfield equipment manufacturers in India.

Strategic Importance for UDTL
Strengthening Industry Partnerships
This latest win deepens UDTL’s longstanding relationship with ONGC, a partnership built on years of consistent delivery, high product quality, and technical innovation. ONGC’s continued reliance on UDTL underscores the trust and satisfaction derived from the company’s offerings.
Expanding Order Book and Revenue Outlook
Since this contract was added, UDTL’s order book has grown to ₹250–280 crore, giving it strong visibility into future earnings.
The company reported a revenue of ₹168 crore in FY25, marking a 29.2% increase from the previous year, and a net profit growth of 66.7% to ₹15 crore. The ONGC order is expected to further bolster these figures in the coming quarters.

UDTL’s Competitive Edge
Technical Excellence and Global Reach
UDTL is known for its advanced production facilities, robust R&D, and highly skilled technical staff.
The company’s product portfolio includes high-performance connectors, casing pipes, wireline winches, gas lift equipment, and downhole tools, all manufactured to international standards.
Growing Global Footprint
Although India is still a significant market, UDTL is progressively growing its footprint in Africa, Southeast Asia, and the Middle East. The company’s growing international recognition is a testament to its reliability, innovation, and customer-centric approach.

At the Core of India’s Oil & Gas Sector: ONGC
ONGC, a Maharatna PSU, is India’s largest crude oil and natural gas company, contributing around 71% of the country’s domestic production. The government holds a 58.89% stake in ONGC as of March 2025, underscoring its strategic importance in India’s energy landscape.

Financial Performance Snapshot
In FY25, the company reported a robust financial performance, with revenue rising to ₹168 crore from ₹130 crore in FY24, reflecting a 29.2% year-on-year growth. Net profit surged by 66.7%, reaching ₹15 crore compared to ₹9 crore in the previous fiscal. The company’s Price-to-Earnings (P/E) ratio stood at 32.81x for FY25, indicating a strong valuation. Additionally, following the ONGC deal, the company’s order book expanded significantly, now estimated in the range of ₹250–280 crore, highlighting a strong pipeline and positive future outlook.

Conclusion
More than just a business victory, United Drilling Tools Ltd.’s historic order from ONGC is a strategic move that improves its financial outlook, solidifies its position in the market, and reinforces its dedication to quality and innovation. UDTL is in a strong position to take advantage of the expanding prospects in the global oil and gas industry as it keeps growing both domestically and internationally. Strong market confidence in UDTL’s future is indicated by the stock’s 20% increase, which reflects investor enthusiasm.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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ITC Completes Acquisition of 24 Mantra Organic: A Major Leap into India’s Organic Food Market

ITC Completes Acquisition of 24 Mantra Organic: A Major Leap into India’s Organic Food Market

With the purchase of Sresta Natural Bioproducts, ITC expands its portfolio, strengthens its farm-to-table supply chain, and sets sights on global organic food leadership.

Introduction
India’s organic food industry has seen rapid expansion, fueled by rising health consciousness, evolving consumer tastes, and a global move toward sustainable farming practices.
In a move that underscores the sector’s potential, ITC Limited has finalized the acquisition of Sresta Natural Bioproducts Private Limited (SNBPL), the company behind the widely recognized 24 Mantra Organic brand. The transaction, completed on June 13, 2025, is set to reshape the competitive landscape of organic foods in India.

Deal Structure and Financial Details
The acquisition was carried out as an all-cash transaction, free of both debt and existing cash balances.
ITC acquired a full 100% stake in Sresta Natural by paying an upfront amount of ₹400 crore, with an additional ₹72.5 crore linked to the achievement of specific performance targets over the next 24 months. This takes the total potential deal value to ₹472.5 Cr.
As part of the acquisition, Sresta Natural’s overseas subsidiaries in the United States and the United Arab Emirates have also become step-down wholly owned subsidiaries of ITC, expanding the conglomerate’s international footprint in the organic sector.

Why Sresta Natural and 24 Mantra Organic?
A Pioneer in Organic Foods
Established in Hyderabad, Sresta Natural Bioproducts has been a pioneer in the organic packaged food industry.
Its flagship brand, 24 Mantra Organic, is a household name across India and enjoys a growing presence in international markets. The company’s portfolio spans over 100 organic products, including staples, spices, condiments, edible oils, and beverages.
Robust Farmer Network
One of Sresta’s key strengths is its direct sourcing model, working closely with approximately 27,500 farmers across 10 Indian states. This extensive network ensures traceability, quality, and a reliable supply of organic raw materials—an asset that ITC can now leverage to build a resilient farm-to-table supply chain.

Strategic Rationale for ITC
Expanding the Foods Portfolio
ITC has been consistently growing its packaged foods portfolio, and the inclusion of 24 Mantra Organic meaningfully enhances its product range.
The organic segment is one of the fastest-growing categories in India’s food industry, and this acquisition instantly gives ITC a leadership position.
Strengthening Sustainability and Brand Equity
The move aligns with ITC’s commitment to sustainability, responsible sourcing, and health-focused products. By integrating 24 Mantra Organic’s established brand and ethical sourcing practices, ITC enhances its credentials among health-conscious and environmentally aware consumers.
International Growth Ambitions
With Sresta’s established presence in the US and UAE, ITC now has a ready platform to accelerate its global ambitions in the organic foods space. The acquisition opens doors to new markets and export opportunities, leveraging the growing global demand for Indian organic products.

Market Impact and Industry Response
Following the acquisition, ITC’s shares have seen renewed investor interest, with analysts highlighting the strategic fit and long-term growth prospects. The deal is expected to intensify competition in the organic foods segment, prompting other FMCG majors to ramp up their own organic offerings.
Industry observers note that ITC’s robust distribution network, marketing muscle, and deep pockets could help scale the 24 Mantra Organic brand to new heights, both in India and internationally.

The Road Ahead: Integration and Growth
ITC has announced that Sresta Natural and its subsidiaries will operate as wholly owned subsidiaries, ensuring business continuity while benefiting from ITC’s resources and expertise. The integration process will focus on expanding product reach, enhancing supply chain efficiencies, and driving innovation in the organic foods category.
With the organic food market projected to grow at double-digit rates in the coming years, ITC’s timely acquisition positions it at the forefront of a sector poised for explosive growth.

Conclusion
ITC’s takeover of Sresta Natural Bioproducts and the 24 Mantra Organic brand represents a pivotal development for the company as well as a significant milestone for India’s organic food sector. By combining Sresta’s pioneering legacy and farmer network with ITC’s scale and vision, the deal promises to deliver value to consumers, farmers, and shareholders alike. As health and sustainability become central to food choices, ITC is now well-placed to lead India’s organic revolution at home and abroad.

 

Meta Description
ITC Limited, one of India’s largest diversified conglomerates, has officially completed its acquisition of Sresta Natural Bioproducts, the owner of the renowned 24 Mantra Organic brand. This all-cash deal, valued at up to ₹472.5 crore, marks a significant milestone in ITC’s strategy to capture the rapidly growing organic food market in India and abroad. The acquisition brings with it a vast product portfolio, a strong farmer network, and international reach, positioning ITC as a formidable player in the organic foods segment.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Mizuho Makes Bold Play for India with $700 Million Avendus Buy

Mizuho Makes Bold Play for India with $700 Million Avendus Buy

Mizuho, a top-tier Japanese bank, makes a significant foray into India’s financial landscape by acquiring a majority stake in Avendus Capital from KKR, signaling a pivotal shift in the country’s investment banking space.

The Deal: Details and Structure
After months of negotiations and a competitive bidding process, Mizuho and KKR, along with Avendus’s senior leadership, finalized the acquisition terms in early June 2025. The deal values Avendus Capital at approximately ₹6,000 crore ($700 million), with KKR selling its entire 60% stake, alongside early investors, some high-net-worth individuals, and co-founder Ranu Vohra. The remaining founders, Kaushal Aggarwal and Gaurav Deepak, will retain their stakes and continue to manage the company, ensuring operational continuity, though Mizuho will wield veto rights.
Mizuho CEO Mr. Masahiro Kihara is going to visit India for high-level discussions and to formally announce the acquisition. The acquisition will give Mizuho a controlling interest of up to 70% in Avendus, making it a major force in India’s financial services industry.

Avendus Capital: A Homegrown Success Story
Founded in 1999 by three friends—Ranu Vohra, Kaushal Aggarwal, and Gaurav Deepak—Avendus Capital has grown into one of India’s most prominent investment banks. The company offers services in investment banking, credit financing, institutional equities, wealth advisory, and asset management, with operations in ten Indian cities and international offices in the US and Singapore.
Avendus’s acquisition of Spark in 2022 expanded its reach into institutional equities, further diversifying its offeringsIn the nine-month period ending December 2024, Avendus generated ₹1,035 crore in consolidated revenue and posted a profit after tax of ₹170 crore. Investment banking remained the primary growth driver, accounting for the majority of its pre-tax earnings. Its strong financial performance has positioned it as one of the most sought-after dealmakers in India.

KKR’s Exit and Returns
Global investment firm KKR made its initial entry into Avendus in 2015, securing a majority stake with an investment estimated between ₹950 and ₹1,000 crore. The transaction also signifies the exit of a number of initial investors and smaller shareholders, among them Gaja Capital.

Strategic Context: Why Mizuho, Why Now?
Mizuho’s acquisition of Avendus comes amid a broader trend of Japanese financial institutions deepening their presence in India. Just last month, Sumitomo Mitsui Banking Corporation (SMBC) picked up a strategic stake in Yes Bank, and Mizuho itself has recently invested in Kisetsu Saison Finance. Having established five branches in India and committed $500 million to its local operations, Mizuho is making a strong play for long-term growth in the country’s financial sector.
The deal also reflects Mizuho’s global ambitions. Mizuho has been expanding its international presence through acquisitions, notably of Greenhill & Co. and an Indian fintech startup in 2024. The alliance with Avendus provides the Japanese bank with a gateway to a fast-growing market and a platform backed by strong local expertise and established networks.

Competitive Bidding and Advisory
The Avendus stake sale attracted significant interest from global private equity and financial players, including Carlyle, TPG Capital, TA Associates, and even Nomura, which was originally hired to manage the process before Rothschild took over as advisor. Ultimately, Mizuho outbid Carlyle, with insiders citing Mizuho’s strategic fit and cross-border transaction capabilities as key differentiators.

What’s Next for Avendus?
Post-acquisition, Avendus will continue to operate under the leadership of its remaining founders, with the support and oversight of Mizuho. The Japanese bank’s global reach and capital strength are expected to enhance Avendus’s ability to serve clients, especially in cross-border M&A and capital markets.
The deal also positions Avendus to further expand its wealth management, alternative asset management, and institutional equities businesses, leveraging Mizuho’s international network and financial muscle.

Conclusion
Mizuho’s $700 million acquisition of Avendus Capital is a watershed moment for both companies and for India’s financial services landscape. It underscores the growing appeal of Indian financial assets to global investors and marks a new era of cross-border collaboration. As Mizuho integrates Avendus into its global operations, the Indian investment bank is poised for its next phase of growth, backed by one of the world’s largest financial groups.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Poonawalla Fincorp Shares Jump to 11-Month High on ₹500 Crore NCD Fundraising Plan

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