Sunday, September 20
The Initial Public Offering (IPO) of workplace solutions provider IndiQube Spaces Limited will open on Wednesday July 23, Wednesday and close on July 25, Friday, company's Red Herring Prospectus (RHP) showed. The public issue comprises a fresh issue of Rs 650 crores and an Offer for Sale (OFS) of Rs 50 crores.The window for anchor investors to bid for the shares will open on Tuesday, July 22.Promoters Rishi Das and Meghna Agarwal will offload shares worth Rs 25 crores each, the RHP said.IndiQube Spaces IPO proceedsThe company has proposed to utilise the fresh issue towards funding capex towards new centers to Rs 462.6 crores. It will use Rs 93 crores towards the repayment of debt while the remaining proceeds on general corporate purposes.About IndiQubeIndiQube is a workplace technology sta
Nuvoco Vistas Corp saw a multi-fold jump in its consolidated profit for the June quarter helped by a near 9% increase in revenue from operations, while expenses remained largely unchanged.The east India-based cement producer’s bottomline surged to Rs 133.16 crore as compared to 2.84 crore a year ago. Consolidated revenue from operations stood at Rs 2,872.70 crore for the quarter, up from Rs 2,636.48 crore a year ago.Total expenses for the period stood at Rs 2,685.90 crore as compared to Rs 2,635.91 crore in the year-ago period. The company sold 5.1 million tonne of cement during the quarter, while its earnings before interest, tax, depreciation and amortization was the highest ever for the first quarter at Rs 533 crore. “The company witnessed healthy volume growth during the quarter,
The United States Embassy in India has issued a fresh advisory for visa holders after a video showing an Indian woman being arrested for alleged shoplifting in the US went viral. The embassy warned that breaking American laws could lead to immediate visa revocation and long-term travel bans.Shortly after the video drew attention online, the US Embassy in India released a message on X.— USAndIndia (@USAndIndia) The advisory read, “Committing assault, theft, or burglary in the United States won’t just cause you legal issues – it could lead to your visa being revoked and make you ineligible for future US visas. The United States values law and order and expects foreign visitors to follow all US laws.”The statement comes a day after bodycam footage went viral of an Indian to
Shares of Smartworks Coworking Spaces listed at a premium of 7.15% on the exchanges on Thursday. The stock debuted at Rs 436.10 (up Rs 29.10) on BSE and Rs 435 (up Rs 28 or 6.9%) on NSE, against the issue price of Rs 407.The IPO, which garnered strong investor interest across categories, was subscribed 13.92 times overall. The company had set the IPO price band at Rs 387–407 per share.The Rs 583 crore IPO consisted of a fresh issue worth Rs 445 crore and an offer for sale (OFS) component of Rs 138 crore. Investors responded strongly, with the QIB portion subscribed 24.92 times, NII 23.68 times, and retail 3.69 times. The employee quota saw a relatively lower subscription at 2.51 times.Smartworks is one of India’s largest providers of managed office spaces for enterprises, offering full
