Virtual Galaxy Infotech lists on NSE at 26% premium
Nagpur:
Virtual Galaxy Infotech
Limited, an IT company from Nagpur, was listed in the
SME segment
of the
National Stock Exchange
(NSE) on Monday, with the shares opening at Rs180, a premium of over 26%. The company IPO had been oversubscribed by more than 231 times, with the public offer of Rs93 crore attracting bids worth over Rs14,400 crore.
The listing was followed by a video message from chief minister
Devendra Fadnavis
, who said that the company, which started as a modest venture, has made a major mark in the sector. The success made him proud as the state's chief minister, he said. "It is a matter of pride that both the promoters, Avinash Shende and Sachin Pandey, are Marathi manus and residents of my own South-West Nagpur constituency," said Fadnavis.
The chief minister also noted that the IPO was oversubscribed 231 times.
The company will create 1,000 jobs in two years and develop a 10-acre campus at Mihan-SEZ, he said.
Later, talking to TOI, Shende — one of the promoters — said the company diluted 26% of its stake, admitting that the response was overwhelming. Apart from building the unit at MIHAN SEZ, the IPO proceeds will also be used for repayment of loans worth Rs3 crore. Over Rs5 crore will go towards the purchase of a GPU, server, and storage system at the data centre.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
[Click Here] 2025 Best Luxury Hotel Prices
Expertinspector
Learn More
Undo
Apart from this, Rs18 crore will go towards enhancement and maintenance of existing products, and Rs14 crore for funding business development and marketing activities.
The additional development facility at Nagpur will entail a capital expenditure of Rs34 crore.
President of Vidarbha Association of Software Exporters (VASE) Amitabh Khanna said the development strengthens the confidence of the region's IT units. Chartered accountant Julfesh Shah said bids worth Rs14,400 crore for a Rs93 crore public issue is considerable indeed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
37 minutes ago
- Time of India
After Indigo, Akasa partners with Navi Mumbai Airport for commercial flights
Akasa Air on Friday announced its partnership with AdAirport Holdings Ltd (AAHL) to commence commercial flight operations from the upcoming Navi Mumbai International Airport (NMIA). A joint statement said Akasa Air will initially operate 100+ weekly domestic departures, scaling up to 300+ domestic and over 50+ international departures weekly in the winter schedule. As part of its broader network strategy, the airline is also set to ramp up to 10 parking bases by the end of 2026-27, with a focused international expansion into key Middle Eastern and Southeast Asian markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Writing in English Doesn't Have to Feel Hard Grammarly Learn More Undo Recently, Indigo had also partnered with Adani Group for operating commercial flights from the newly built Navi Mumbai airport. Vinay Dube, Founder and CEO, Akasa Air said: "Our foray into Navi Mumbai International Airport is a strategic step aligned with Akasa Air's long-term vision to build a future-ready airline that is responsive to the evolving needs of Indian travellers. No airline in India will have a larger percentage of its fleet and operations based out of NMIA than Akasa Air." Live Events "Enhanced connectivity from Navi Mumbai will not only strengthen our network in the western region but also help fuel India's economic engine by improving connectivity, stimulating regional development, and ensuring that the benefits of aviation-led growth reach every corner of the country. This move supports our commitment to supplement existing capacities, unlock new demand centres, and enable sustainable growth," Dube added. "NMIA represents the future of Indian aviation, and our presence from the outset aligns with our vision to serve India's emerging demand with agility, accessibility, and customer-first innovation. We appreciate our continued partnership with Adani Airports, offering expanded connectivity from this state-of-the-art airport while supporting the broader goal of regional and national aviation growth across our nation", Dube added. Arun Bansal, CEO, AAHL, added: "We are pleased to welcome Akasa Air as one of the inaugural airline partners at Navi Mumbai International Airport. Their rapid growth and forward-looking approach make them an ideal partner in NMIA's journey to becoming a key domestic and international hub. Our collaboration aims to offer a seamless and enhanced travel experience for millions, with NMIA playing a central role in reshaping Mumbai's air connectivity ecosystem." In its initial phase, Navi Mumbai Airport will handle 20 million passengers and 0.5 million metric tonnes (MMT) of cargo annually, with ultimate capacity expanding to 90 million passengers and 3.2 MMT cargo. The launch of Navi Mumbai airport will create a dual-airport system for the country's financial capital, enabling the decongestion of Mumbai airport and enhancing the overall passenger experience. The airport spans over 1,160 hectares (2,866 acres) of land. In March 2025, Adani Group Chairman Gautam Adani visited the Navi Mumbai airport site, which is almost ready for operations. Adani Group earlier hinted that it plans to inaugurate the Navi Mumbai airport in the first half of 2025. The greenfield Navi Mumbai airport will have two parallel runways, enabling two aircraft to land and take off simultaneously. The Navi Mumbai airport features a 3,700-meter runway capable of handling large commercial aircraft. Adani Airport Holdings Limited was incorporated in 2019 as a 100 per cent subsidiary of Adani Enterprises Ltd, the flagship company of the Adani Group. The Adani Group made its maiden venture into the airports sector by emerging as the highest bidder for the operation, management, and development of six airports: Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. It also signed concession agreements with the Airport Authority of India for all six airports. The already operational airport in Mumbai is also an Adani airport.
Time of India
37 minutes ago
- Time of India
National Donut day is here, and Dunkin', Krispy Kreme, and other top outlets are offering free donuts
It's the one day of the year when you can indulge in your donut cravings without guilt. National Donut Day has returned, and your favorite chains are serving up the goods, often for free. From Krispy Kreme to Dunkin' Donuts to hometown favorites, Friday, June 6 is all about celebrating with sprinkles, glaze, and plenty of sugar. In honor of National Doughnut Day , also known as National Donut Day in some circles, free doughnuts will be served on Friday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo Which chains are giving free donuts today? In celebration of June 6, national chains such as 7-Eleven, Krispy Kreme, Dunkin', and Sheetz are offering discounts on your sugar cravings. Dunkin' brought some custom doughnuts to the 6ABC studios as a way to celebrate. According to them, customers who buy any drink on Friday will receive a free donut. Local doughnut lovers can enjoy free mini doughnuts from Brewnuts and Goldie's. Brewnuts offers limited edition swag and free mini doughnuts to the first 100 customers. Goldie's offers a free dozen per month for a year if a customer finds a gold coin in their doughnut Friday. Waa offers a donut for every specialty beverage purchase. Duck Donuts provides one free cinnamon sugar donut per guest. Federal Donuts provides a free hot donut with purchase. South Philadelphia-based Bakery offers free donuts to its first 50 customers. Krispy Kreme offers a dozen doughnuts for $2 with code BOGO2. FAQs Where do I get free donuts today? Live Events Dunkin' Donuts, Krispy Kreme, Wawa, and Duck Donuts are all offering free donuts, some with a purchase and others without. Why do we celebrate National Donut Day? It started as a 1938 fundraiser honoring women who served donuts to soldiers during WWI.
Time of India
an hour ago
- Time of India
Shaping the future of mobility: The transformative power of automotive design
The transformative power of automotive design. The article is authored by Ajay Jain- Head of India Design Studio at Tata Motor. Design is often perceived as the art of creating visually pleasing concepts. However, in the automotive industry, it transcends mere visual appeal— it shapes materials into sophisticated, purposeful vehicles and translates complex technologies into intuitive, human-centric experiences. From enhancing vehicle safety and performance to embedding cutting-edge technology, design plays an instrumental role in shaping the industry's future. In recent years, factors such as rapid digitisation, the rise of electric and connected vehicles, evolving regulatory frameworks, and increasing consumer demand for personalisation have placed automotive design at the forefront of industry transformation. Recent projections indicate that by 2030, the auto component industry is expected to triple in size to USD 200 billion and automotive design will be a key catalyst in enabling this growth. Most importantly, it reflects a brand's core values—whether its sustainability, innovation, or heritage—ensuring a lasting impact in an ever-evolving market. Driving multidimensional experiences through design by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Device Made My Power Bill Drop Overnight elecTrick - Save upto 80% on Power Bill Pre-Order Undo In the automotive industry, design is far more than just a differentiator—it is a strategic tool that shapes both the product and the brand. Designing an automobile demands a precise balance of science, art, and engineering. It involves selecting the right materials, shaping them into optimal forms, and refining the 'touch and feel' of a vehicle to create a memorable customer experience. Every design choice, whether in exterior styling, interior comfort, or the integration of intuitive controls, directly influences consumer perceptions and purchasing decisions. Tata Sierra design explained: Glass panels but no safety compromises! | TOI Auto To achieve this, automakers rely on cross-functional collaboration where design teams work alongside engineering, product development, manufacturing, and marketing departments. This synergy ensures that every vehicle combines technical precision with emotional appeal, ultimately shaping a distinct and enduring brand identity. The automotive design process involves various specialised roles, each contributing unique expertise. Shape designers define the exterior form through sketches and digital renderings, while space designers optimise interior layouts for comfort and functionality. Surface designers select materials, textures, and finishes to enhance the vehicle's tactile and visual appeal, while interaction designers create intuitive controls that blend the latest technology with functional mechanics for safer and seamless user experiences. Redefining the future of mobility The future of mobility is driven by tech innovations and sustainability, reshaping automotive design and user experiences. As consumers increasingly expect granular personalisation with features like internet connectivity, embedded IoT devices, and advanced smart technologies, vehicles are evolving into mobile extensions of the digital ecosystem. Building on this transformation, the growing adoption of autonomous driving technology is prompting a fundamental re-evaluation of vehicle architecture . With self-driving capabilities reducing the need for driver-centric designs, automakers are shifting their focus to occupant-centric layouts, creating more flexible and experiential interiors. A major shift in automotive design is also witnessed by the rapid rise of electric vehicles (EVs). Unlike traditional internal combustion vehicles, EVs offer greater flexibility in layout due to the absence of large engines and complex drivetrains. This allows designers to prioritise spacious, modular interiors and experiment with aerodynamic, minimalist exteriors that enhance energy efficiency. Moreover, as the concept of sustainability takes centre stage for both consumers and brands, the use of eco-friendly materials, recycled components, and energy-efficient manufacturing processes is gaining momentum. With tightening environmental regulations and growing consumer awareness, automakers are increasingly embracing circular design practices to reduce waste and extend vehicle lifecycles. Shaping the way forward Automotive designers are no longer bound by traditional constraints—they are redefining vehicles as dynamic, multifunctional spaces. By leveraging AI, smart sensors, and adaptive systems, vehicles are being transformed into immersive environments that offer personalised comfort, entertainment, and productivity features. The convergence of technology and sustainable principles is enabling the creation of vehicles that forge deeper, more meaningful connections with consumers. Cars are evolving from mere modes of transportation into versatile, experience-driven platforms, reflecting a future where design, innovation, and sustainability are inseparably linked.
