Congress chief Mallikarjun Kharge accuses PM Modi of 'murdering' Constitution
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
25 minutes ago
- Business Standard
NSDL to launch ₹4,000-crore IPO on July 30; bidding ends August 1
National Securities Depository Ltd (NSDL) is set to launch its Initial Public Offering (IPO) on July 30, with the issue size pegged at around Rs 4,000 crore. The depository's maiden public issue will conclude on August 1. The one-day bidding for anchor investors is scheduled to open on July 29, according to the Red Herring Prospectus (RHP). The IPO only consists of Offer For Sale (OFS) component of 5.01 crore shares and those selling shares under this are -- the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India and Administrator of Specified Undertaking of the Unit Trust of India (SUUTI). Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO. Market sources have pegged the IPO size to around Rs 4,000 crore. This upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services (CDSL), which was listed on the NSE in 2017. The listing of NSDL is crucial in order to comply with Sebi's ownership norms. These regulations require that no entity can hold more than 15 per cent of the shareholding in a depository company. NSDL's principal shareholders, IDBI Bank and the NSE, are required to reduce their stake in the company to comply with Sebi's rule. Currently, IDBI holds 26.10 per cent and NSE owns 24 per cent stake in NSDL, which exceeds the permissible limit. It is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996. For the full financial year 2024-25, the depository's net profit surged by 24.57 per cent to Rs 343 crore and total income rose to Rs 1,535 crore, a 12.41 per cent increase over FY 2023-24. ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers to the issue.
The Print
25 minutes ago
- The Print
Gurugram: ED arrests 3 promoters of Universal Buildwell in Rs 1000 crore money laundering case
M/s Universal Buildwell Private Limited is a real estate company, involved in developing residential and commercial properties, including projects like Universal Trade Tower, Universal Business Park, and Universal Aura. The company was placed under Corporate Insolvency Resolution Process (CIRP) in 2018. The trio — Raman Puri, Varun Puri and Vikram Puri — who were absconding from court summons for more than seven years, were declared proclaimed offenders in multiple predicate offences and were recently apprehended by the Delhi Police, the ED said in a statement. Gurugram, Jul 24 (PTI) The Enforcement Directorate (ED), Gurugram zonal office, on Thursday claimed to have arrested three promoters and former directors of M/s Universal Buildwell Private Limited, in connection with a money laundering case involving more than Rs 1,000 crore. The accused were produced before a special court in Gurugram on the strength of a production warrant and have been remanded to ED custody till July 29, it said. The case pertains to fraudulent mobilisation of funds from homebuyers by the three on the basis of false assurances of project completion by 2010 and promised returns from commercial projects. They also allegedly defrauded several financial institutions and entered into fake agreements for personal gain, officials said. The agency said the three raised more than Rs 1,000 crore over 12 years through eight real estate projects in Gurugram and Faridabad, including Universal Trade Tower, Universal Greens, Universal Business Park, Aura, Universal Square, Market Square, The Pavilion and Universal Prime. However, only a portion of the funds was used in the construction, it said. 'The accused are also charged with criminal misappropriation, cheating, forgery and embezzlement of money to acquire properties for their personal gain through fraud. They are under interrogation', an ED official said. The probe was initiated on the basis of more than 30 FIRs registered across Delhi-NCR under various IPC sections, it said. PTI COR OZ OZ This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
25 minutes ago
- The Print
TTD receives Rs 5.6 crore in donations from two Hyderabad donors
The contribution was formally handed over to TTD officials. According to an official release, late IRS officer YVSS Bhaskar Rao had bequeathed assets worth Rs 3.66 crore to the temple trust. The donation included a residential property valued at Rs 3 crore and Rs 66 lakh in cash. Tirupati, Jul 24 (PTI) The Tirumala Tirupati Devasthanams (TTD) on Thursday received donations totalling Rs 5.6 crore from two Hyderabad-based donors, a late IRS officer and a private company. The cash Rs 66 lakh is to be distributed among various TTD trusts, including Rs 36 lakh to the Sri Venkateswara Annaprasadam Trust, and Rs 6 lakh each to the Sri Venkateswara Sarva Sreyas Trust, Veda Parirakshana Trust, Go Samrakshana Trust, Vidyadana Trust, and SRIVANI Trust. Three trustees of Rao handed over the property documents and donation cheques to TTD additional executive officer Venkaiah Chowdary, it said. Trinity Combine Private Ltd company contributed Rs 2 crore to the temple body's Sri Venkateswara Annaprasadam Trust in the form of multiple cheques. Representatives of the company handed over the donation to Chowdary at Ranganayakula Mandapam in Tirumala, the release added. PTI STH ROH This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
