Latest news with #NRNarayanaMurthy
Time of India
03-06-2025
- Business
- Time of India
Aequs files IPO papers via confidential filing route; seeks to raise up to $200 million
Aequs, a contract manufacturing firm for consumer durable goods and aerospace parts, has filed draft papers with the markets regulator Sebi through a confidential pre-filing route , with an aim to raise around USD 200 million. The offer will comprise both a fresh issue of equity shares and an Offer For Sale (OFS) component. In a pubic announcement on Tuesday, Aequs said it has pre-filed a Draft Red Herring Prospectus (DRHP) for an IPO on a confidential basis with the stock markets regulator Sebi and stock exchanges. Accordingly to people familiar with the development, the company is planning to launch an IPO worth USD 200 million. To manage the offering, the company has appointed Kotak Mahindra Capital, JM Financial and IIFL Capital. Live Events The board of directors of Aequs recently passed a resolution for approval to change its status from a private entity to a public company. Aequs had received significant equity infusion over the years from its promoters to scale up operations. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy), Sparta Group and the investment office of Desh Deshpande. Aequs provides a fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors. It runs manufacturing operations across three countries, India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in Karnataka. Founder and CEO Aravind Melligeri has decades of experience in the aerospace segment and has been the co-founder of Quest Global Engineering. On the financial front, the company's total income was around Rs 988 crore in FY24, and the total operating income was Rs 970 crore. Aequs has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans. Earlier this month, Groww filed its IPO papers through the same route. In recent months, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt, also chose confidential filings. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar filings. Online hotel aggregator OYO had used this route in 2023 but did not proceed with its IPO. Tata Play, formerly Tata Sky, was the first Indian company to utilise the confidential filing option in December 2022 and received Sebi's observation letter in April 2023, though it later withdrew from the public issue. Market experts note that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. Unlike the traditional route, which requires companies to launch their IPOs within 12 months of receiving Sebi's approval, the pre-filing route extends this window to 18 months from the receipt of final comments. Additionally, firms can modify the primary issue size by up to 50 per cent until the updated DRHP stage. PTI
Economic Times
03-06-2025
- Business
- Economic Times
Aequs files IPO papers via confidential filing route; seeks to raise up to $200 million
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Aequs, a contract manufacturing firm for consumer durable goods and aerospace parts, has filed draft papers with the markets regulator Sebi through a confidential pre-filing route , with an aim to raise around USD 200 offer will comprise both a fresh issue of equity shares and an Offer For Sale (OFS) a pubic announcement on Tuesday, Aequs said it has pre-filed a Draft Red Herring Prospectus (DRHP) for an IPO on a confidential basis with the stock markets regulator Sebi and stock to people familiar with the development, the company is planning to launch an IPO worth USD 200 manage the offering, the company has appointed Kotak Mahindra Capital, JM Financial and IIFL board of directors of Aequs recently passed a resolution for approval to change its status from a private entity to a public had received significant equity infusion over the years from its promoters to scale up operations. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy), Sparta Group and the investment office of Desh provides a fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors. It runs manufacturing operations across three countries, India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in and CEO Aravind Melligeri has decades of experience in the aerospace segment and has been the co-founder of Quest Global the financial front, the company's total income was around Rs 988 crore in FY24, and the total operating income was Rs 970 has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO this month, Groww filed its IPO papers through the same route. In recent months, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt, also chose confidential filings. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar hotel aggregator OYO had used this route in 2023 but did not proceed with its IPO. Tata Play, formerly Tata Sky, was the first Indian company to utilise the confidential filing option in December 2022 and received Sebi's observation letter in April 2023, though it later withdrew from the public experts note that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. Unlike the traditional route, which requires companies to launch their IPOs within 12 months of receiving Sebi's approval, the pre-filing route extends this window to 18 months from the receipt of final comments. Additionally, firms can modify the primary issue size by up to 50 per cent until the updated DRHP stage. PTI
New Indian Express
02-06-2025
- Business
- New Indian Express
Working India is sleepwalking into a crisis
What's troubling sleep? A recent exercise we undertook across a 3,600-strong sample in 12 work environments is telling. Employees are sleeping less across all verticals of work. People in sales and retail are sleeping less than anyone else. People in banking are sleeping less as well. Everyone with a work target defined for themselves is sleeping less. Everyone who has a salary linked to a variable remuneration pattern is sleeping that much less. The biggest item that is robbing sleep is this yen to achieve. While a bulk of it is boss-driven (67 percent), the balance (33 percent) is driven by the self-motivated and motivating employee. While the boss is ruining the sleep for some, in two thirds of the cases, the individual employee is robbing himself of sleep. The workplace today is competitive. Everyone is pitted against one another. The best of corporate workplaces who pride themselves to be 'good' and 'great' places to work, have the biggest of challenges. Employees probed for reasons why sleep eludes them as much as they need or want indicate a toxic workplace to be the prime reason that is poisoning their sleep. Sleep is, therefore, a big industry ahead. Sleep therapists, sleep consultants and sleep gurus are the future of this large industry. As many working people, that many sleep deprived folks (at least 21 percent of them who are already acknowledging the fact that they are sleep challenged). Bengaluru has just joined an elite global tech club as one of the 12 cities with a tech workforce of more than 1 million people. By sheer extrapolative logic, sleep is a big industry in this city for sure. Literally, 0.21million of Bengalureans in the tech space are likely to be sleep-challenged. If not a pandemic, it sure sounds like an endemic. Whatever it is, is it not time all of us tackled the issue and held the sleep bull by its horns? Or does it just have one horn, like a 'unicorn'? I'm not sure. The industry of sleep is slated to boom. Expect every mattress company to come up with the 'intelligent mattress' that measures your sleep and puts you to sleep when you want. Expect the sleep apps to go berserk. Expect the sleep gummies market to boom. Sleep music is already a genre on its own. I have just checked into a hotel in Delhi and the hotel offers me a meditative playlist that promises to be soothing enough to put me to sleep. Will hotels offer a lullaby artist next? Hotels are offering sleepwear you can buy, made of fabric that promises to be so soft on your skin that it can lull you to sleep. Another hotel is offering a tapping exercise to 'un-loud' your mind and help melt stress, whatever that means. Sleep is a big industry in a country deprived of it. As I close, I must recall one sentence that has stayed in mind for three decades since I heard it first. It comes from our venerated N R Narayana Murthy, who is a personal icon of mine. It's about a pillow. And a pillow is something that gets as close as it can to good sleep. I repeat his evocative words: 'A clear conscience is the softest pillow in the world.' Is that the magic sauce for a good sleep? And is that what we are missing in our work lives? Touché! Harish Bijoor Brand Guru and Founder, Harish Bijoor Consults (Views are personal)
Time of India
02-06-2025
- Business
- Time of India
Infosys promoters get Rs 2.3k crore dividend
BENGALURU/MUMBAI: Infosys promoters hold 54.2 crore shares (14.6% of total company shares), a stake so significant that the company's latest dividend payout at Rs 43 per share translated into Rs 2,330 crore, shared among them. Infosys announced a total dividend of Rs 43 per share, including an interim dividend of Rs 21 per share for FY25. The total payout is a 52% jump compared to the Rs 1,527-crore dividend payout in FY24. Chairman Nandan Nilekani, owns four crore shares, earning him Rs 175 crore in dividends. Infosys co-founder NR Narayana Murthy holds 1.5 crore shares, reaping Rs 65 crore in dividends. The other promoters include Kris Gopalakrishnan with nearly 3.2 crore shares and dividends of Rs 137 crore. Sudha Gopalakrishnan maintains the highest individual shareholding of 9.5 crore shares, resulting in dividend earnings of Rs 410 crore. High Net-Worth Grand Kids The next generation maintains substantial holdings. Narayana Murthy's son, Rohan Murty, owns 6 crore shares, yielding Rs 261.5 crore in dividends, while Akshata Murty's 3.8 crore shares earned Rs 167 crore. The third generation of Infosys promoters is now emerging into the spotlight, with some of the grandchildren holding significant stakes. Among them, Nikita and Milan Shibulal Manchanda each earned Rs 26.3 crore in dividends. Tanush Nilekani Chandra received Rs 14 crore, while the youngest shareholder, Ekagrah Rohan Murty, earned Rs 6.5 crore in dividends. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
27-05-2025
- Business
- Time of India
NR Narayana Murthy establishes a 20-year, inflation-adjusted scholarship at IIM Ahmedabad
Synopsis Infosys founder NR Narayana Murthy has established an inflation-adjusted scholarship at IIMA, covering tuition, hostel, and course expenses for the PGP program. Named after Professor Jaswant G Krishnayya, it will be awarded annually to the top student. Murthy's commitment spans 20 years, with an estimated payout of Rs 12 crore, facilitated by the IIMA Endowment Fund.
