SEBI clears IPOs of 13 companies this week

by Hansraj Agrawal | Jan 23, 2026 | Business

The IPO of CMR Green Technologies Ltd, non-ferrous metal recycler, is entirely through OFS of 4.28 crore shares, according to the draft red herring prospectus

Market regulator SEBI this week approved IPO papers of as many as 13 companies, including Sify Infinit Spaces, Purple Style Labs, BVG India and CMR Green Technologies.

These 13 companies cater to various sectors. The other companies that received SEBI’s clearance included Pride Hotels, Oswal Cables, Sai Parenterals, Commtel Networks, Transline Technologies, UKB Electronics, Medicap Healthcare, Jay Jagdamba and Hella Infra. Of these, Jay Jagadamba and Hella Infra filed IPO papers via confidential route.

Offer size

The proposed IPO of Sify Infinit Spaces Ltd is combination of a book-build Issue (fresh issue and offer for sale) with a total size of ₹3,700 crore. If listed, Sifi Infinit would be the first from India’s data centre industry.

Proceeds from the fresh issue are expected to be directed towards the company’s growth initiatives, operational expansion and related corporate purposes as outlined in regulatory documents.

Purple Style Labs, the parent firm of luxury fashion platform Pernia’s Pop-Up Shop, is entirely a fresh issue, according to its draft red herring prospectus. The company plans to raise ₹660 crore through the IPO.

The company plans to use IPO proceeds to the tune of ₹363.3 crore to invest in its wholly-owned subsidiary, PSL Retail, for lease liabilities related to experience centres and back-end offices in India; ₹128 crore will be deployed for sales and marketing and the rest will go towards general corporate purposes.

Facility management services provider, BVG India’s IPO comprises a fresh issue of ₹300 crore and an OFS of 2.85 crore shares by selling shareholders. BVG India provides soft services such as mechanised housekeeping, janitorial services, industrial housekeeping, manpower supply, security, office support and retail fuel outlet maintenance.

The IPO of CMR Green Technologies Ltd, non-ferrous metal recycler, is entirely through OFS of 4.28 crore shares, according to the draft red herring prospectus.

Sai Parenterals IPO comprises a fresh issue of up to ₹285 crore and an offer for sale of up to 35 lakh shares by shareholders.

Medicap Healthcare’s proposed IPO is entirely a fresh issue of ₹240 crore. Proceeds will be used to fund the purchase of plant and machinery for its manufacturing facility, repay existing debt of both the company and its subsidiary, KASR Healthcare, and for general corporate purposes.

The Noida-based UKB Electronics’ plans ₹800 crore IPO that comprises a ₹400 crore fresh issue and a ₹400 crore OFS by promoters. UKB Electronics caters to home appliances and consumer electronics.

Oswal Cables has filed DRHP for ₹500 crore IPO, which is a mix of fresh issue (₹300 crore) and Offer for Sale (OFS) of up to 2.22 crore shares.

Transline Technologies has filed for an IPO, which is entirely an OFS of about 1.62 crore shares. Commtel Networks’ IPO consist of a fresh issue of ₹150 crore and an offer for sale of up to ₹750 crore.

Published on January 23, 2026

Source link

‘Series of actions taken to prevent misuse and diversion of codeine-based Phensedyl’: Abbott

by Hansraj Agrawal | Jan 23, 2026 | Business

Pointing out that it did not “condone any misuse, including diversion, of medicines,” it said, Abbott took a responsible approach to Phensedyl production volumes which declined by half between 2012 – 2024.
| Photo Credit:
Maxim Shemetov

Abbott has taken “a series of actions to prevent the misuse and diversion of codeine-based Phensedyl”, the healthcare company said, responding to a report indicating that its supply chain was under “scrutiny” in an investigation on the alleged misuse of cough syrups.

Outlining steps taken by it, Abbott said, it included “setting manufacturing and supply limits, eliminating sales incentives for trade, conducting distributor and chemist education programs, performing business inspections, and supplying only through State FDA-licensed distributors.”

Against the long-standing concerns over the misuse of coughsyurps containing codeine, the American healthcare company said, “several years ago, Abbott developed and continues to market a version of Phensedyl without codeine.” “During this time, our distributors held the appropriate licenses to distribute codeine products, and Abbott had a robust process and internal control framework in place to ensure that we sold only to appropriately authorized distributors,” it added.

Diversion persisted

“Despite these many efforts, misuse and diversion persisted. That’s why after nearly 70 years on the market, Abbott ceased manufacturing and selling Phensedyl with codeine in December 2024,” it said.

Abbott acquired Phensedyl through its acquisition of Piramal’s Healthcare Solutions business in late 2010. Codeine is a government-controlled ingredient allocated and supplied annually to Abbott by Central Bureau of Narcotics, Ministry of Finance.

A Reuters report citing State Government documents and investigations in Uttar Pradesh pointed to the alleged diversion of Phensedyl bottles. “On 14^th January 2026, regulators visited our Baddi manufacturing site. We fully cooperated with the inspection and provided all the information requested. The report we received following the visit indicated that the inspection was satisfactory,” Abbott said.

Launched in the 1950s, and approved by the Drugs Controller General of India, codeine-based Phensedyl is a prescription cough syrup containing 0.2 per cent Codeine Phosphate, providing highly effective relief from dry cough associated with colds and flu, as well as serious medical conditions such as cancer and tuberculosis, the company said.

Published on January 23, 2026

Source link

Bitcoin trades flat near ,000 amid subdued demand and institutional caution

Bitcoin trades flat near $89,000 amid subdued demand and institutional caution

by Hansraj Agrawal | Jan 23, 2026 | Business

Bitcoin remained range-bound on January 23, hovering near the $89,000 level as thin liquidity and subdued investor participation continued to weigh on price action. The world’s largest cryptocurrency showed little directional momentum, signalling consolidation rather than a shift in market conviction.

According to Vikram Subburaj, CEO, Giottus, flows remain the main drag. US spot Bitcoin ETFs extended a run of net outflows on Thursday and Friday, pointing to institutional caution rather than panic selling. Short-term holder metrics remain near break-even, indicating that recent buyers continue to sell into rallies, limiting upside momentum.

On the other hand, Sathvik Vishwanath, co-founder and CEO of Unocoin, noted that globally, institutional participation has deepened. The success of Bitcoin spot ETFs has helped make crypto a credible investment for traditional finance, attracting interest from banks and asset managers. At the same time, decentralised finance (DeFi) has steadied after earlier excesses, with growing use of Layer-2 networks that are faster and cheaper. Another key trend is the tokenisation of real-world assets, where blockchain is being used to represent assets such as bonds and funds instead of purely speculative tokens.

“On the regulatory front, India’s Financial Intelligence Unit has enforced stricter AML and KYC norms, aligning the ecosystem with global compliance standards. Meanwhile, the industry is seeking clarity on the classification of virtual digital assets and rationalisation of the 1% TDS, with expectations that a more comprehensive framework could evolve through 2026. In this sense, the current phase may appear quiet on the surface, but it reflects an industry focused on credibility, regulation and long-term sustainability rather than short-term hype,” he said.

Alongside, Altcoins stayed under pressure. Ethereum, BNB, XRP, and Solana all underperformed Bitcoin earlier in the week, reflecting higher sensitivity to risk-off conditions. Smaller tokens showed sporadic moves, but these lacked follow-throughs, underscoring the absence of broad risk appetite.

Published on January 23, 2026

Source link

Adani group stocks battered after US SEC seeks to email summons to top executives

by Hansraj Agrawal | Jan 23, 2026 | Business

Adani Enterprises, which ended 10.6 per cent lower, was also the top loser in the Nifty50 on Friday

Shares of Adani group companies were battered on Friday, falling 3.4-14.5 per cent, gouging out $12.5 billion from its market capitalisation, following reports that the US Securities and Exchange Commission had sought court approval to serve summons over email to founder Gautam Adani and his nephew Sagar Adani in an alleged wire fraud and bribery case worth $265 million.

Adani Green Energy saw the steepest fall at 14.5 per cent, sentiments in the stock worsened by a steep fall in its Q3 net profit due to a rise in costs.

Flagship Adani Enterprises, which ended 10.6 per cent lower, was also the top loser in the Nifty50 on Friday. Group firms Adani Ports fell 7.5 per cent, Adani Power and Adani Total Gas dropped 5.6 per cent each and Ambuja Cements fell 5.1 per cent.

Alleged fraud

The alleged fraud and bribery case was revealed in November 2024 when US authorities indicted top Adani officials, accusing them of offering bribes to secure solar energy contracts in India, even as the company concerned was raising money from American investors.

The US regulator has been trying to send summons to the Adanis in connection with the probe but has been unsuccessful so far.

According to reports, the US SEC told a court in Brooklyn it had been unable to get assistance from Indian authorities to send the summons and that it “does not expect service to be completed” through the current route and it should be allowed to email the summons to the Adanis.

The Adani group has consistently maintained that the allegations made by the US authorities are baseless and it would take all legal steps to defend itself.

Published on January 23, 2026

Source link

India to import Brazilian crude oil, State-run BPCL to sign sourcing deal with Petrobras

by Hansraj Agrawal | Jan 23, 2026 | Business

Hardeep Singh Puri, Petroleum Minister
| Photo Credit:
bl-online Administrator

India’s state-run Bharat Petroleum Corporation Limited (BPCL) is set to sign a term contract to source 12 million barrels of crude oil from Brazil’s Petrobras, valued at about $780 million.

Speaking at a curtain-raiser event for India Energy Week (IEW) 2026, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said the agreement will be formalised at the upcoming IEW.

The contract is among the key commercial agreements expected to be concluded during the event.

Significantly, the development comes amid evolving global crude supply dynamics, including sanctions on Russia, geopolitical tensions in West Asia and recent developments involving Venezuela.

While India continues to import Russian crude, global supply flows are undergoing adjustments, leading refiners to widen sourcing options.

According to Puri, global energy markets remain stable despite geopolitical turbulence, adding that India does not foresee any shortage of crude oil supplies.

“Global energy markets are stable despite recent turmoil. Prices have stayed above around $60 even amid volatility,” Puri said.

According to him, India is currently sourcing crude oil from 41 geographies, compared with 27 regions earlier.

Besides, the minister noted that a larger share of global energy supplies is now flowing in from the Western Hemisphere, with incremental volumes coming from countries such as Brazil, Guyana and Suriname.

Pact with Shell

Apart from the BPCL–Petrobras contract, BPCL’s overseas arm, Bharat PetroResources Ltd (BPRL), will also sign a memorandum of understanding with Shell for potential collaboration and participation in global exploration opportunities.

Meanwhile, IEW 2026 will be held from January 27 to 30 in Goa. It will bring together ministers, global chief executive officers, policymakers and industry leaders.

Additionally, several business agreements are expected to be concluded during the week, including partnerships involving Oil and Natural Gas Corporation Ltd, Oil India Ltd, Numaligarh Refinery Ltd and TotalEnergies, covering areas such as liquefied natural gas sourcing and sustainable aviation fuel projects.

In another key development, two shipbuilding contracts are expected to be signed during India Energy Week 2026.

These include contracts involve Oil and Natural Gas Corporation, Japan’s Mitsui O.S.K. Lines, and South Korea’s Samsung Heavy Industries.

Furthermore, Prime Minister Narendra Modi is expected to hold a chief executive officer roundtable during the event, along with multiple country-specific engagements, including the India–Arab Energy Dialogue.

Separately, the minister referred to the government’s Samudra Manthan deepwater exploration mission, noting that offshore drilling activity remained near-zero between 2006 and 2016.

He said that the initiative aims to multiply exploration wells over the next decade.

Published on January 23, 2026

Source link

IndusInd Bank returns back to black in Q3 with ₹128 crore PAT

by Hansraj Agrawal | Jan 23, 2026 | Business

Private sector lender IndusInd Bank returned back to profitability in Q3FY26, posting ₹128 crore profit after tax on Friday. The lender had reported a net loss of ₹437 crore in Q2FY26 as provisions soared in the previous quarter. On a year-on-year (y-o-y) basis, the bank’s net profit was down 91 per cent.

The bank’s net interest income (NII) rose 3 per cent sequentially but was down 13 per cent y-o-y in Q3 at ₹4,562 crore. Its other income also rose 3 per cent sequentially but was down 28 per cent on-year to ₹1,707 crore in Q3. Net interest margin, excluding one-offs, stood at 3.35 per cent in Q3 versus 3.32 per cent in last quarter. The lender expects NIM to remain range-bound in Q4.

Overall advances of the lender de-grew 13 per cent y-o-y to ₹3.17 lakh crore, while deposits fell 4 per cent on-year to ₹3.93 lakh crore. IndusInd Bank aims to grow its advances and deposits on par with the banking industry in FY27, and will grow its deposits at a faster pace than credit, MD & CEO Rajiv Anand told reporters in a post-earnings conference. He said the bank will focus on building its low-cost deposit base from hereon.

Gross slippages of the bank rose to ₹2,560 crore in Q3 from ₹2,537 crore last quarter. A chunk of slippages arose out of micro loan and vehicle finance book. Write-offs also increased to ₹2,612 crore in Q3 from ₹2,517 crore in Q2. Gross non-performing asset (GNPA) ratio of the bank stood at 3.56 per cent in Q3, 4 basis points (bps) lower on quarter, while net NPA ratio was flat sequentially at 1.04 per cent.

The bank said it has appointed Arijit Basu,former MD at SBI and former chairman of HDB Financial Services, as its new chairman in place of Sunil Mehta, who retires at the end of January. The banking regulator has approved a 3-year term for Basu. ENDS

Published on January 23, 2026

Source link

« Older Entries

Next Entries »

Times Top News

Times Top News