Dhan rolls out 'Gold Vault' with MCX-linked pricing; MMT eyes India listing

Dhan rolls out 'Gold Vault' with MCX-linked pricing; MMT eyes India listing



Trading platform Dhan on Wednesday launched ‘Gold Vault’, a new offering that allows retail investors to buy physical gold and silver at live exchange-linked prices. The product enables users to participate in bullion futures contracts on Multi Commodity Exchange of India (MCX) and opt for physical delivery, with transactions backed by market infrastructure including clearing corporation MCX Clearing Corporation and institutional vaults, the brokerage said.  


MakeMyTrip eyes India listing by June quarter, plans to hire banks 


MakeMyTrip, an online travel platform listed on the Nasdaq, is considering a listing in Mumbai, according to people familiar with the matter. The company has engaged Axis Capital, Morgan Stanley, and JPMorgan Chase & Co. as advisors, and plans to add more banks for the proposed share sale, the people said. MakeMyTrip is targeting the June quarter (Q1) of 2026- 2027 (FY27) for the potential listing. A representative for the firm said that it is in the process of evaluating a potential listing in India, which could provide an additional avenue to access capital, including from domestic institutional and retail investors as well as enable it to provide India listed equity as potential consideration for growth initiatives.  

 


Citius TransNet Invit lists at 6.2% premium on strong IPO demand 


Units of Citius TransNet Investment Trust (Invit) gained 6.2 per cent on their trading debut on Wednesday, following strong demand for its initial public offering (IPO), which was subscribed over 11 times. The ₹1,105-crore issue was priced at ₹99-100 per unit. The unit last closed at ₹106.2. Proceeds of up to ₹1,000 crore will be used to acquire or redeem road assets held through special purpose vehicles, including SRPL Roads and select expressway projects.  


Adani Enterprises’ Nifty weighting may marginally inch up 


Shares of Adani Enterprises are likely to see incremental passive inflows after the conversion of partly paid (PP) shares into fully paid-up equity issued during ₹24,930-crore rights issue. The conversion has led to an increase in the company’s free float factor, which will result in a marginal weighting uptick of about 0.05 per cent in the benchmark Nifty 50 index, according to estimates by Nuvama Alternative. This adjustment is expected to trigger passive inflows of nearly ₹250 crore.  


Bagmane Prime Office  Reit’s ₹3,405-crore IPO to open on May 5 


Blackstone-backed Bagmane Prime Office real estate investment trusts (Reit) will launch its ₹3,405-crore IPO from May 5 to 7 with a price band of ₹95-100 per unit. The issue comprises a fresh fund raise of ₹2,390 crore and an offer for sale of ₹1,015 crore. The Reit owns and manages premium Grade A+ office parks in Bengaluru. As of June 30, 2025, its portfolio included six business parks with an area of 20.3 million sq ft and a leasable area of 19.6 million sq ft, with occupancy of 97.9 per cent. Proceeds will be used to acquire Luxor at Bagmane Capital Tech Park and part-fund the acquisition of a 


93 per cent stake in Bagmane Rio. bs reporter

 



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Cities near Mumbai likely to raise funds via bonds for first time

Cities near Mumbai likely to raise funds via bonds for first time



Cities that surround India’s financial capital Mumbai are planning to raise funds through bonds for the first time over the ​next few weeks, three merchant bankers said on Wednesday, signalling ​a further pick-up in the local municipal debt market.


Navi Mumbai and Panvel, both ‌located on the mainland to the east of Mumbai, have kicked off the process by getting issuer credit ratings.


While Navi Mumbai could target a fundraise of around 10 billion rupees ($105.5 million), Panvel would go for a smaller amount with the quantum yet to be finalised, one of the bankers said.


The bankers requested anonymity as the matter is private. The city corporations did not respond to Reuters queries.

 


For years, India had tried to popularise municipal bonds – common elsewhere in the world – as a way to fund urban transformation.


Municipal corporations, local bodies that run cities in ‌India, typically fund public projects such as roads, water supply and sanitation through bonds.


While over 20 cities have raised more than 45 billion rupees over the last nine years through bonds, according to regulatory data, Mumbai, the richest municipal body in India, has yet to tap the bond market.


Navi Mumbai has received a AA+ rating from India Ratings, while Panvel is rated AA- by Care Ratings. The ratings are backed by ​the cities’ strategic location, strong financial profiles, revenue generation and debt-free balance sheets.


In February, India’s Finance Minister ‌Nirmala Sitharaman announced an incentive of 1 billion rupees for municipal corporations issuing bonds worth at least 10 billion rupees.


The government also provides a subsidy for ​maiden bond ‌issues as well as a 2 percentage point interest subvention that makes such borrowing cheaper.


There ‌is also growing interest in the market.


Last week, Reuters reported that the International Finance Corp is in talks with states and urban local bodies to invest in ‌municipal ​bonds.


IFC has signed ​multiple mandates in states and could act as an anchor investor to mobilise private funding, Imad Fakhoury, the South Asia regional director, said. The organisation is ‌also looking to ​facilitate pooled bonds for smaller cities, he said.


($1 = 94.8300 Indian rupees)



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Sebi sets deadlines for advisers to verify past performance data

Sebi sets deadlines for advisers to verify past performance data



The Securities and Exchange Board of India (Sebi) has operationalised the Past Risk and Return Verification Agency (PaRRVA) framework, a move aimed at standardising how investment performance is reported and verified across the securities market.

 


In a circular issued on Wednesday, the regulator said Care Ratings has been recognised as the first PaRRVA, with NSE acting as the PaRRVA Data Centre (PDC). The platform will go live on May 4, following completion of its pilot phase.

 


Sebi has directed investment advisers (IAs) and research analysts (RAs) to enrol with PaRRVA by August 3 to continue sharing certified past performance with clients. After May 2028, only PaRRVA-verified risk and return metrics can be communicated; historical performance data from the pre-PaRRVA period will no longer be allowed in client communication.

 
 


The move aims to curb misleading claims and ensure uniformity in how performance data is presented to investors.

First Published: Apr 29 2026 | 9:36 PM IST



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Puravankara subsidiary receives LoI for project worth Rs 144.45 cr

Puravankara subsidiary receives LoI for project worth Rs 144.45 cr


Puravankara announced that its subsidiary, Starworth Infrastructure & Construction (SICL) has received a Letter of Intent for the execution of civil, structure, waterproofing, finishes and allied works for residential project – Nature’s Nest located at Survey No. 54/4, Chinnagenahalli, Doddabanahalli, Bangalore District, Karnataka – 560049 by NPS Developers for the approximate contract value of Rs 144.45 crore excluding GST and Labour Cess.
 

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 29 2026 | 8:04 PM IST



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Puravankara subsidiary receives LoI for project worth Rs 144.45 cr

Force Motors Q4 PAT slides 36% YoY to Rs 279 cr


Force Motors reported a 35.93% year-on-year decline in consolidated net profit to Rs 278.52 crore in Q4 FY26, compared with Rs 434.71 crore in the corresponding quarter last year.

Revenue from operations rose 8.23% to Rs 2,549.84 crore in Q4 FY26 as against Rs 2,356.01 crore in Q4 FY25.

Profit before tax (PBT) declined 43.37% YoY to Rs 378.20 crore in Q4 FY26, compared with Rs 667.81 crore in Q4 FY25.

Total expenses rose 4.96% year on year to Rs 2,210.27 crore in Q4 FY26. Employee benefit expense stood at Rs 181.49 crore (up 5.23% YoY), while finance costs were at Rs 2.74 crore (down 62.26% YoY) during the period under review.

 

On a full-year basis, the company’s consolidated net profit rose 51.31% to Rs 1,211.75 crore, while total income increased 12.21% to Rs 9,057.05 crore in FY26 compared with FY25.

Meanwhile, the companys board has recommended a dividend of Rs 50 per equity share (500% of face value Rs 10 each) for FY26, subject to shareholders approval at the ensuing Annual General Meeting (AGM).

Force Motors is engaged in manufacturing light commercial vehicles, utility vehicles, and engines. It is an automobile company with a focus on the design, development, and manufacture of a range of automotive components, aggregates, and vehicles.

Shares of Force Motors rose 1.13% to close at Rs 20990.25 on the BSE.

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Puravankara subsidiary receives LoI for project worth Rs 144.45 cr

Interest rate on GOI Floating Rate Bond 2034 to be 6.45% for next six-months


The rate of interest on Government of India Floating Rate Bond 2034 (FRB 2034) applicable for the half year April 30, 2026 to October 29, 2026 shall be 6.45 per cent per annum, Reserve Bank of India noted. The FRB 2034 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e., April 30, 2026) of 182 Day T-Bills, plus a fixed spread (0.98 per cent).

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 29 2026 | 6:50 PM IST



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