Latest news with #Mumbai-headquartered
The Wire
8 hours ago
- Business
- The Wire
Sellowrap Industries Limited to Launch IPO on July 25, 2025; Over Four Decades of Automotive Expertise Enters Capital Markets
Sellowrap Industries Limited, a Mumbai-headquartered manufacturing company serving leading OEMs across automotive, white goods, and non-automotive sectors, has announced the opening of its Initial Public Offering (IPO) on July 25, 2025. The issue will close on July 29, 2025, with listing proposed on August 01, 2025 on NSE EMERGE platform. The company's IPO comprises a fresh issue of 36,48,000 Equity Shares. Founded as a proprietary firm in 1983 by Mr. Sushil Kumar Poddar and formally incorporated as a private limited company in 2004, Sellowrap Industries has evolved over four decades into a trusted manufacturer of both adhesive and non-adhesive processed components. With a diversified customer base of major domestic and global OEMs, the company operates across Gurugram, Ranipet, Kancheepuram, and Pune, covering approximately 5 acres of cumulative production space. The IPO is priced in a band of ₹79 to ₹83 per share, and the minimum application lot size is 3200 equity shares. The allocation will be made in accordance with SEBI guidelines, with 6,91,200 shares reserved for Qualified Institutional Buyers (QIBs), 5,23,200 shares for Non-Institutional Investors (NIIs), 12,16,000 shares for Retail Individual Investors (RIIs), and 1,82,400 shares for Market Makers. The Anchor Book will open on July 24, 2025, ahead of the public issue. There are 10,35,200 shares reserved for Anchor. With a well-integrated business model, in-house R&D capabilities, and advanced facilities for foam and plastic component production, Sellowrap delivers solutions that prioritize cost-efficiency, innovation, and global quality compliance. The company forms part of the SK Group, which also includes M/s Saurabh Marketing Pvt. Ltd., Sellowrap EPP Pvt. Ltd., Prystine Food & Beverages Pvt. Ltd., and Group Company Proton Consultancy Services Pvt. Ltd. The Company's Promoter and Managing Director, Mr. Saurabh Poddar, stated, 'This IPO is not just a financial milestone but a strategic enabler for our future. With over four decades of domain knowledge, we are ready to scale and innovate further, deepening our footprint in both Indian and global markets while continuing to serve OEMs with quality, precision, and value.' The net proceeds from the fresh issue will be used for funding capital expenditure towards plant and machinery, Infrastructure Development and Other Auxiliary Equipment, working capital requirements, and general corporate purposes, strengthening Sellowrap's operational capacity and competitiveness. The Book Running Lead Manager to the issue is Gretex Corporate Services Limited, and the Registrar to the Offer is Purva Sharegistry (India) Private Limited. For more information, please visit: (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI This is an auto-published feed from PTI with no editorial input from The Wire.
Business Standard
3 days ago
- Business
- Business Standard
Sellowrap Industries Limited to Launch IPO on July 25, 2025; Over Four Decades of Automotive Expertise Enters Capital Markets
VMPL New Delhi [India], July 22: Sellowrap Industries Limited, a Mumbai-headquartered manufacturing company serving leading OEMs across automotive, white goods, and non-automotive sectors, has announced the opening of its Initial Public Offering (IPO) on July 25, 2025. The issue will close on July 29, 2025, with listing proposed on August 01, 2025 on NSE EMERGE platform. The company's IPO comprises a fresh issue of 36,48,000 Equity Shares. Founded as a proprietary firm in 1983 by Mr. Sushil Kumar Poddar and formally incorporated as a private limited company in 2004, Sellowrap Industries has evolved over four decades into a trusted manufacturer of both adhesive and non-adhesive processed components. With a diversified customer base of major domestic and global OEMs, the company operates across Gurugram, Ranipet, Kancheepuram, and Pune, covering approximately 5 acres of cumulative production space. The IPO is priced in a band of ₹79 to ₹83 per share, and the minimum application lot size is 3200 equity shares. The allocation will be made in accordance with SEBI guidelines, with 6,91,200 shares reserved for Qualified Institutional Buyers (QIBs), 5,23,200 shares for Non-Institutional Investors (NIIs), 12,16,000 shares for Retail Individual Investors (RIIs), and 182400 shares for Market Makers. The Anchor Book will open on July 24, 2025, ahead of the public issue. There are 10,35,200 shares reserved for Anchor. With a well-integrated business model, in-house R & D capabilities, and advanced facilities for foam and plastic component production, Sellowrap delivers solutions that prioritize cost-efficiency, innovation, and global quality compliance. The company forms part of the SK Group, which also includes M/s Saurabh Marketing Pvt. Ltd., Sellowrap EPP Pvt. Ltd., Prystine Food & Beverages Pvt. Ltd., and Group Company Proton Consultancy Services Pvt. Ltd. The Company's Promoter and Managing Director, Mr. Saurabh Poddar, stated, "This IPO is not just a financial milestone but a strategic enabler for our future. With over four decades of domain knowledge, we are ready to scale and innovate further, deepening our footprint in both Indian and global markets while continuing to serve OEMs with quality, precision, and value." Mr. Alok Harlalka, Managing Director ofGretex Corporate Services Limited, the Book Running Lead Manager to the issue, said, "Sellowrap represents a compelling growth story rooted in legacy and innovation. With its robust presence in OEM supply chains and a proven manufacturing track record, the company is well-positioned to create long-term value for investors." Mr. Sumit Harlalka, Director at Gretex, added, "The company's customer-centric approach, diversified portfolio, and strong focus on operational excellence make it a standout player in the components manufacturing space. We are proud to partner with them on this important capital market journey." The net proceeds from the fresh issue will be used for funding capital expenditure towards plant and machinery, Infrastructure Development and Other Auxiliary Equipment, working capital requirements, and general corporate purposes, strengthening Sellowrap's operational capacity and competitiveness. The Book Running Lead Manager to the issue is Gretex Corporate Services Limited, and the Registrar to the Offer is Purva Sharegistry (India) Private Limited. For more information, please visit:
Time of India
5 days ago
- Business
- Time of India
AI-assisted coding is the way to go when hiring graduates: LTIMindtree CEO
Academy Empower your mind, elevate your skills Hiring for freshers or entry-level graduates will have artificial intelligence or AI-assisted coding as part of the improvised assessment as the correlation between revenue and headcount growth becomes more de-linear, said chief executive officer (CEO) of the sixth-largest Indian IT company, LTIMindtree 'We are very optimistic about continuing our effort in inducting freshers. We added 1,600 freshers this quarter and we are going to add more throughout this year as well. AI-assisted coding is the way to go about it,' said Venugopal Lambu Lambu said there was more emphasis in terms of the learning ability, and the foundational skill sets that freshers have on which companies can build, using their training and learning methods.'So those assessments will always improvise it…Whenever we hire people, we take all those aspects, whether it is related to the coding roles, cloud roles or infrastructure roles or data roles,' he on freshers by building a pyramid-style organisation structure has been key for the over-$283-billion outsourcing industry's services delivery model. However, over the past more than a year, since AI took centre-stage entry-level jobs and hiring at technology firms was impacted with companies coding 20-25% via AI, reducing the need for junior-level human AI technology permeates across functions and solutions, Lambu believes there is a correlation or a non-linearity in the revenue growth and workforce addition.'Over the last few quarters, when we added revenue, the headcount has not necessarily increased. So, there is a correlation or a non-linearity, but it is too early to call out to what extent it will happen,' he added. LTIMindtree , formed with the merger of L&T Infotech and Mindtree in November 2022, last week reported a 5.2% year-on-year growth in the first quarter revenue of fiscal year 2026 at $1.15 billion. It was a 1.97% sequential rise boosted by healthy growth from Europe and its consumer or retail transitioned to take over the Mumbai-headquartered Larsen & Toubro (L&T) subsidiary's top seat on May 31, after induction into the firm in company announced its largest deal with a US-based client worth $450 million in the first quarter.'We are on the verge of signing a couple of deals, and one of them will actually beat our own record. That gives me the confidence that we will move towards the double-digit growth at some time in the second half of the year,' Lambu IT industry has been struggling with low single-digit to flat business growth over the past two years after more than two decades of strong double-digit revenue growth tariff-led macro uncertainties and the AI-backed efficiencies increase cost pressures, most software service providers are witnessing a demand contraction from top clients. This is lowering revenue contribution from large deals, a key vector for IT firms' growth.'Our contribution of top clients' revenue decreased because it has moved to the other categories. For example, we added two new $50 million-plus accounts on-year basis…The portfolio mix also is changing as we start building larger deals,' Lambu we are betting big on AI, Lambu said, AI will be net positive for both revenue and margin growth, which it expects to be closer to 16% in the next couple of quarters from 14.3% in the June quarter.
Time of India
5 days ago
- Business
- Time of India
Graviss chairman moves high court over family settlement feud
Mumbai: Gaurav Ghai , chairman of Graviss Group , which owns and operates the Baskin-Robbins brand in the SAARC region, has approached the Bombay High Court against his father, Ravi Ghai , seeking the court's intervention to appoint an arbitrator for settling a dispute over a family settlement agreement ( FSA ). Justice Somasekhar Sundaresan, in his July 15 order, directed Gaurav Ghai to issue notices to all the parties, and posted the matter for further hearing on August 5. Explore courses from Top Institutes in Select a Course Category Others Data Science Product Management Operations Management Degree MCA CXO others PGDM Management Finance Design Thinking Public Policy Technology Digital Marketing Artificial Intelligence Project Management Leadership Healthcare Data Science Data Analytics healthcare Cybersecurity MBA Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Mumbai-headquartered Graviss Group also has interests in real estate and the hospitality business. However, the dispute is only around the group's listed entity, Graviss Hospitality (GHL), which owns a boutique luxury hotel, InterContinental Marine Drive. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Things Women Should NEVER Wear! Undo "The value of the promoter shares requested by my father in 2021 to be retained in his name, although the beneficial interest in these had passed to me, was a mere ₹25 crore. Over the years, the value of shares has gone up to ₹100 crore. Owing to the rise in value of shares placed under hold/freeze in my favour, he is doing everything to unlock, sell, and monetise his shares in GHL," said Gaurav Ghai when contacted. "The company contributes very minuscule amounts in terms of revenue, but for me, this company has sentimental value since it carries my grandfather's legacy," he added. The genesis of the dispute lies in the family settlement agreement (FSA) of 2021, between Ravi Ghai, his wife Geeta Ghai, and son Gaurav Ghai. According to the agreement, a copy of which was reviewed by ET, Gaurav Ghai would have complete control over the family business, and in lieu of that, his father Ravi Ghai would receive ₹235 crore. Live Events At the time of executing the agreement, Ravi Ghai intended to retain 51% of the shares in GHL during his lifetime. GHL contributes about 10% to the overall revenue of the Graviss Group. In August 2023, the family members entered into a supplemental FSA, under which Ravi Ghai agreed not to sell, encumber, assign, transfer, or create any third-party rights of any nature whatsoever on the 51% of promoter shareholding in GHL. The agreement also stated that Ravi Ghai would bequeath the 51% shareholding controlled by him in GHL to his son Gaurav, post his lifetime. Also, these shares were put under "hold/freeze", according to GHL's stock exchange filing. When contacted, Ravi Ghai denied the existence and validity of any supplemental FSA. "I have never signed, consented to, or authorised anyone to execute such a document on my behalf," said Ravi Ghai, in response to ET's email query.
Indian Express
6 days ago
- Indian Express
Central Railway, Western Railway to run 262 special trains during Ganesh Chaturthi festival
Written by Naresh S The Mumbai-headquartered Central Railway and the Western Railway Friday announced that they will operate 262 special trains to handle passenger rush during the upcoming Ganesh Chaturthi festival. While the Central Railway will run 192 special services, the Western Railway has announced 70 such services on Konkan-bound routes. According to the Central Railway, the services will cover high-demand destinations across the Konkan region, including Sawantwadi Road, Kudal, Ratnagiri, and Pernem. Trains will run from key city stations like Lokmanya Tilak Terminus, Dadar, Panvel, Thane, and Pune. The 192 specials include 40 services between Lokmanya Tilak Terminus and Sawantwadi Road, 24 between Lokmanya Tilak Terminus and Ratnagiri, 24 between Panvel and Kudal, 20 between Panvel and Sawantwadi Road, 36 between Lokmanya Tilak Terminus and Kudal, 18 between Dadar and Ratnagiri, eight each from Thane to Kudal and Sawantwadi Road, eight between Lokmanya Tilak Terminus and Pernem, and six between Pune and Sawantwadi Road. 'The services have been planned keeping in mind the seasonal rush towards the Konkan region and will be operated with additional halts based on demand. Bookings for these trains have already begun through the IRCTC (Indian Railway Catering and Tourism Corporation) website and all computerised reservation centres,' the Central Railway stated in a press release. Meanwhile, the Western Railway stated it will run 70 Ganpati specials connecting Mumbai with parts of Goa and the southern Konkan coast. This includes 26 services between Bandra Terminus and Madgaon, 22 between Valsad and Sawantwadi Road, and another 22 between Valsad and Kudal. Railway authorities said these trains will have special fares. They also urged passengers to verify timings and stops through official channels such as the National Train Enquiry System (NTES) app and railway websites before travelling. Railway authorities from both zones have requested passengers to avoid last-minute bookings and to plan their travel in advance. They also appealed to commuters to cooperate with railway staff during boarding and deboarding, especially at crowded stations along the Konkan stretch. (Naresh S is an intern with The Indian Express)
