Varmora Granito, a tiles and bathware maker based in Rajkot, recently filed its DRHP with SEBI, proposing a blended IPO with fresh equity worth INR 400 crore and an OFS of about 5.24 crore shares. Much of the fresh funds will go toward repaying debt across the parent company and its subsidiaries; the balance is meant for general corporate purposes. The company offers an extensive tile range, including glazed vitrified and ceramic variants, supported by a strong manufacturing footprint and wide distribution network.Read more

Awfis saw a standalone profit of INR 8.94 crore and total income of INR 351.54 crore, reflecting a 30 percent year-on-year growth in operating revenue. Profitability improved markedly, with the operating EBITDA margin reaching 37.8 percent. A 40 percent expansion in seat capacity and a 25 percent rise in tier-II city presence underline its scalability. The company is also entering office furniture production, investing INR 8-10 crore to streamline fit-outs and create a new income stream all following the previous quarter's dramatic profit and revenue rise.Read more

Highway Infrastructure Ltd. entered the stock market with a sharp surge in its share price, listing at INR 117 on the BSE and INR 115 on the NSE about 67 % and 64 % above the IPO price of INR 70. The INR 130-crore IPO, which closed with an extraordinary subscription of over 300 times, comprised a fresh issue worth INR 97.52 crore and an offer-for-sale of 46.4 lakh shares at INR 32.48 crore. Established in 1995, the Indore-based company works in tollway collection, EPC projects, and real estate development. Strong grey market activity before listing had already hinted at a robust debut.Read more

The Finance Ministry recently introduced the Taxation Laws (Amendment) Bill, 2025, aimed at providing tax exemptions for subscribers of the newly launched Unified Pension Scheme (UPS). This bill ensures that all tax benefits previously available under the New Pension Scheme (NPS) will now apply to the UPS, which came into effect from April 1, 2025. Besides pension-related changes, the bill also proposes amendments to the block assessment process in income tax search cases and offers specific direct tax benefits to Saudi Arabia's public investment funds. These updates seek to improve tax administration, encourage pension savings, and strengthen foreign investment ties.Read more

The Greater Mohali Area Development Authority (Gmada) has held a numbering draw for shops-cum-offices (SCOs) and bay shops in Aerocity under its land-pooling scheme, limited to existing letter of intent (LOI) holders. Lists of eligible applicants were published for verification, with objections accepted only before a set deadline. The draw precedes actual possession, which will follow completion of development works in the coming months. Applications include 40 for 60 sq yd bay shops, 131 for 100 sq yd SCOs, and 29 for 121 sq yd SCOs. While Aerocity's commercial growth is promising, residents urge Gmada to address civic issues for sustainable development.Read more

In an exchange filing earlier this week, NBCC India reported a consolidated net profit increase of nearly 26 per cent for the opening quarter of the current fiscal year compared to the same period a year ago. The company also recorded double-digit revenue growth and announced a first interim dividend for shareholders. The strong quarterly performance reflected the firm's expanding project portfolio and steady execution capabilities.Read more

Property tax collections in Gurugram have reached nearly three-quarters of the annual target, while Manesar has already surpassed last year's revenue, thanks to an AI-powered tax system. The technology uses generative AI chatbots to engage taxpayers, identify reasons for non-payment, and categorise them for tailored follow-up-ranging from quick reminders to solutions for genuine challenges. Piloted in Yamunanagar, the system has boosted payments and reduced staff workload. Officials credit it with improving efficiency, while residents urge that the extra revenue be channelled into better amenities, infrastructure upgrades, and stronger public services to address urban needs alongside financial gains.Read more

The Brihanmumbai Electric Supply & Transport (BEST) Undertaking recently floated a tender seeking corporate bids to lease its 35 upscale staff apartments on Altamount Road for a three-decade term, starting at a base price of INR 263 crore. Located beside Mukesh Ambani's Antilia, a few units are currently occupied by senior BEST officials, though most remain vacant. The tender stipulates residential-only use, forbids subletting, and places maintenance, repairs and potential redevelopment (if approved by BMC) on the lessee. This move comes as BEST battles mounting cumulative losses nearing INR 9,500 crore while eyeing earlier land leasing plans and fare hikes to shore up finances.Read more

Signature Global Ltd has reported a sharp rise in its consolidated net profit for the first quarter of FY26, hitting INR 34.43 crore five times more than the INR 6.79 crore it earned during the same period last year. This strong growth came on the back of a significant boost in total income, which nearly doubled to INR 898.35 crore, driven by increasing residential demand. The Gurugram-based company is a key player in India's real estate landscape and has been capitalizing on the country's robust appetite for affordable and mid-income housing.Read more

Varmora Granito Ltd, a leading tile and bathware manufacturer based in Rajkot, has filed its draft red herring prospectus with the Securities and Exchange Board of India to launch its IPO. The offering includes a fresh issue worth INR 400 crore and an Offer for Sale (OFS) of 5.24 crore shares by promoters and investor Kastura Investments. The funds raised will primarily be used to repay borrowings of both the company and its subsidiaries, and for corporate purposes. The IPO will be managed by JM Financial, Goldman Sachs India, and SBI Capital Markets.Read more