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India to resume issuing tourist visa for Chinese nationals 5 years after Galwan clash
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Mint
30 minutes ago
- Mint
Lenskart receives shareholder nod to raise ₹2,150 crore via IPO: Report
Lenskart IPO: Peyush Bansal-led Indian eyewear company Lenskart has received the approval of its shareholder to raise ₹ 2,150 crore through a fresh issue of shares, reported MoneyControl, citing people aware of the development. According to news report, the company filed its corporate action development with the Ministry of Corporate Affairs' (MCA) Registrar of Companies (RoC), as per the data accessed by TheKredible. The proposal to raise money via an IPO was reportedly given the green light at the company's annual general meeting on 26 July 2025, said the report, adding, the eyewear company is expected to file its draft red herring prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), in the upcoming days. The overall IPO size is expected to be around $1 billion or ₹ 8,500 crore, which includes a secondary offer-for-sale (OFS) component by the existing investors, the report added. Earlier this month, Mint reported that the eyewear company's founder, Peyush Bansal, is looking to buy a 1.5-2% stake in the eyewear retailer worth about $150 million from existing investors ahead of its planned IPO. Peyush is buying small stakes from a bunch of investors. This is being negotiated at around $7-8 billion valuation. Existing investors like TR Capital, Chiratae, Softbank and Kedaara Capital are expected to sell their stake as part of the deal. Over the years, the company has raised $1.08 billion in funding across 19 rounds, including its latest Series I round for $18.2 million on 21 July 2023. It has received investments from various firms, including SoftBank Vision Fund, TPG, and Chiratae Ventures. Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital are the company-appointed book-runners for the IPO, which is soon expected to hit Dalal Street. The company was founded in 2010, and since then, it has emerged as one of the biggest players in the Indian eyewear industry. It has 2500 retail outlets across the nation and a presence globally, such as in Singapore and the United Arab Emirates (UAE).
Time of India
an hour ago
- Time of India
Robust tourism helps excise dept boost revenue by 45% since 2022
Panaji : Goa's excise department has seen a significant jump in revenue, with a 45% increase over the last four financial years. The department raked in Rs 947.9 crore in 2024-25, as against Rs 650 crore in 2021-22. This increase is attributed to robust tourist footfalls and enforcement by the department. Goa's excise collection shot up to Rs 865 crore in 2022-23 due to several measures implemented by the excise department. In 2023-24, the department's revenue increased to Rs 900.2 crore. Goa's excise revenue is largely driven by tourists who either purchase alcohol from retail stores or consume liquor at restaurants and hotels. Alcohol sales are also driven by events in the state. Data shared with the legislative assembly also shows that Rs 4.1 crore is owed to the department by 242 retail outlets, bars and alcohol manufacturers since 2018. Of the 242 defaulters, most are from Tiswadi and Salcete talukas. While some of the licence holders have come forward and cleared their dues, the department has been forced to issue notices to most of the excise licence holders to recover what is owed. Those outlets which have ignored notices and reminders to pay the annual audit fees risk having their licences being cancelledwith the department already proposing to cancel some licences">, said officials. In the Goa budget 2023-24, the excise duty on high-end liquor was reduced and duty on other categories of Indian made foreign liquor (IMFL) was marginally increased to shore up revenues. The department said that while no tax refund or waiver has been granted under the Excise Duty Act, applicants have been offered an adjustment of excise duty only in cases where permits are cancelled and the said excise duty paid for liquor goods in these cancelled permits are adjusted in their future permits.
Time of India
an hour ago
- Time of India
Climbers aim for Mt Samgyal, Mt Dawa & Mt Meru's untouched path
Pune: A team of mountaineers from the city is preparing for two daring expeditions in the Himalayas in August—one to the twin peaks of Mount Samgyal (5,814 m) and Mount Dawa (5,900 m) in Ladakh's Nubra Valley, and the other to Mount Meru (6,310 m), one of India's most technically challenging peaks located in the Gangotri Glacier region. Led by Everest summiteer Krishna Dhokale, the Mount Samgyal and Mount Dawa expedition comprises a group of young climbers who will climb without Sherpa assistance beyond base camp. The team will carry out all logistical responsibilities, including ferrying loads, fixing routes, and making summit decisions independently. Supported by veteran Everest climbers Ganesh More and Ashish Mane, this expedition is designed to develop leadership, endurance, and alpine self-sufficiency among India's new generation of mountaineers. Simultaneously, a separate group of experienced climbers will attempt an unprecedented ascent of Mount Meru via the East Ridge, a route that has never been successfully climbed. Both expeditions are being organised by Giripremi mountaineering club. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune The flag-off ceremony for both expeditions was held this evening at New English School, Tilak Road on Friday. The ceremonial flags were presented to the teams by Sheetal Teli-Ugale, Commissioner, Maharashtra Sports and Youth Services Department. The Mount Samgyal and Mount Dawa expedition will be led by Everest summiteer Mr Krishna Dhokale, with guidance and support from experienced climbers Ganesh More and Ashish Mane, also Everest summiteers from Giripremi. Simultaneously, Umesh Zirpe of Giripremi will lead the expedition to Mount Meru in the Gangotri Glacier region. This attempt will be made via the extremely challenging East Ridge, a route that has never been climbed before. Zirpe said, "Mount Meru, located in the Garhwal Himalayas, is considered one of the most sacred and technically difficult peaks in India, frequently mentioned in ancient Indian scriptures. The East Ridge ascent demands extreme high-altitude rock climbing, negotiating falling rocks, vertical cliffs, deep gorges, and a treacherous approach to base camp. The Indian Army has also taken special note of this challenging endeavour. "
