Glottis, a Chennai-based integrated logistics service provider, has set a price band of INR 120-129 per share for its INR 307-crore initial public offering. The issue includes a fresh equity sale of INR 160 crore and an offer for sale of up to 1.14 crore shares worth INR 147 crore by promoters. The IPO will open for public subscription towards the end of this month, with anchor investor bidding scheduled shortly before. Proceeds will be directed towards acquiring commercial vehicles, reducing debt, and corporate needs. At the upper price band, the company's valuation stands close to INR 1,200 crore.Read more

JM Group entities, including JM Financial, JM Financial Services, and JM Financial Products, have settled with SEBI over irregularities in the 2023 public issue of Piramal Enterprises NCDs. The group paid INR 3.92 crore and disgorged additional gains of over INR 2.5 crore. SEBI found that loans and coordinated trades were used to provide guaranteed profits to 1,008 applicants on the listing day, reducing retail ownership sharply. JMFL, JMFSL, and JM Financial Products have also agreed to temporary bans on managing or distributing debt securities and IPO financing activities.Read more

The government is actively monitoring whether the recent GST rate cuts for FMCG products are reflected in e-commerce pricing. Field authorities have been asked to track price changes on essential items following consumer complaints. The GST simplification has reduced rates to 5 and 18 per cent, potentially lowering costs for most daily-use goods. Companies have confirmed that some are passing on the tax benefits. Authorities are awaiting detailed reports on 54 commonly purchased products, including food items, personal care products, electronics, diagnostic kits, and construction materials.Read more

ACME Solar Holdings has secured INR 1,100 crore in financing from the State Bank of India for its 300 MW Rajasthan renewable energy project. The funds will refinance existing debt, cutting financing costs by approximately 100 basis points, and come with a 17-year tenure. Operational for six months, the project has maintained strong capacity utilization. This refinancing supports ACME Solar's strategy to optimize financing across its portfolio and improve its credit profile. The company, which has a diversified renewable energy portfolio and an operational capacity of 2,890 MW, is positioned for significant growth in the coming years.Read more

SEBI Chairman Tuhin Kanta Pandey stressed the importance of accelerating asset monetisation in sectors such as railways, roads, airports, energy, petroleum, gas, and logistics to channel more investor money into infrastructure. Speaking at an event organised by NaBFID, he highlighted the role of Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), public-private partnerships, and securitisation as funding mechanisms. Pandey also pointed out that state governments need to prepare monetisation plans, and broadening the investor base is vital to reduce reliance on banks and government budgets while ensuring transparency and governance.Read more

India Accelerator (IA) has acquired co-working operator MySOHO in a cash-equity deal, furthering its ambition to build one of the most comprehensive startup-focused ecosystems in India. MySOHO currently operates 18 centres across eight cities, spanning 90,000 sq. ft. with 1,800 desks at nearly 90 per cent occupancy. The acquisition supports IA's target to expand its footprint to over 45 hubs across more than 30 cities, offering 6,25,000 sq. ft. of workspace and 12,500 seats.Read more

A FICCI CASCADE report on GST 2.0 highlights that the revised structure will reduce household tax incidence, support MSMEs, and encourage formalisation of the economy. The reform increases the number of goods in the 5 per cent bracket from 54 to 149 categories. For rural families, exempt and merit goods in their spending basket will rise to 73.5 per cent, and for urban households to 66.2 per cent. This will leave more disposable income with consumers and reduce incentives for illicit trade. Despite short-term revenue loss, long-term gains through compliance and consumption are expected.Read more

Crisil has assessed that the GST rate changes will not put a heavy load on government finances. The government anticipates an annualised revenue loss of INR 48,000 crore, which is relatively small compared to last year's GST receipts of INR 10.6 lakh crore. The revised system simplifies tax slabs from four to two 5 per cent and 18 per cent while also bringing e-commerce delivery into the tax net. Since most revenue already comes from the 18 per cent slab, the changes are expected to have limited impact in the near term and may help expand the tax base in the medium run.Read more

Prime Minister Shri Narendra Modi has called the new GST reforms, launched during Navaratri, a major step towards simplifying taxation, boosting domestic manufacturing, and strengthening India's economy. He said the reforms, along with earlier income tax changes raising exemptions to INR 12 lakh, will create savings of around INR 2.5 lakh crore for citizens. Modi urged people to embrace swadeshi products, stressing that local manufacturing supports national prosperity. The revised GST rates reduce costs across key sectors, with most goods now taxed at 5% or 18%, making essentials and everyday items cheaper. The reforms, he said, represent a "savings festival" for households, traders, and MSMEs alike.Read more

India will require nearly USD 4.5 trillion in infrastructure investments by 2030 to maintain its growth path, according to PFRDA chairman Sivasubramanian Ramann. Speaking at a NaBFID conference, he pointed to recent regulatory reforms and the need for pension funds, insurers and corporates to step in as long-term financiers. With RBI lowering provisioning norms on infra loans and a draft scheme on credit enhancement underway, the focus is now on widening funding sources beyond banks to meet the country's massive capital needs.Read more