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<keyword id="1878218" type="General" weightage="20" keywordseo="Rishabh-Instruments" source="Orion">Rishabh Instruments</keyword>, a global energy efficiency solution company, has filed preliminary papers with markets regulator Sebi to mop-up funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating to up to Rs 75 crore and an offer for sale (OFS) for up to 94.17 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP). Under the OFS, Asha Narendra Goliya will offload 25 lakh equity shares, Narendra Rishabh Goliya (HUF) will sell 5.17 lakh shares, Rishabh Narendra Goliya will dispose of 4 lakh shares and SACEF Holdings II will sell 60 lakh equity shares in the company. Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced. Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes. The Nashik-based firm focused on electrical automation, metering and measurement, precision engineered products with diverse applications across industries, including power, automotive and other industrial sectors. It is one of the leading companies in terms of manufacturing and supply of low voltage current transformers and analog panel meters. The equity shares of the company are proposed to be listed on both –- NSE and BSE. DAM Capital Advisors, Mirae Asset Capital Markets (India) and Motilal Oswal Investment Advisors Ltd are the book-running lead managers to the issue. For the financial year ended March 2022, the company's net profit stood at Rs 49.65 crore, whereas its revenue from operations rose to Rs 470.25 crore in FY22, as compared to Rs 389.96 crore in the previous fiscal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/from-sah-polymers-to-chaman-metallics-four-ipos-that-will-raise-almost-110-crore-this-week/articleshow/96680142.cms">From Sah Polymers to Chaman Metallics – Four IPOs that will raise almost ₹110 crore this week</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/incred-capital-acquires-alternate-asset-advisory-firm-orowealth/articleshow/96678261.cms">InCred Capital acquires alternate asset advisory firm Orowealth</a>

Rishabh Instruments files draft papers with SEBI to mobilise funds via IPO

Fintech player <keyword id="15835888" type="General" weightage="50" keywordseo="zaggle-prepaid-ocean-services-ltd" source="Orion">Zaggle Prepaid Ocean Services Ltd</keyword> has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The <keyword id="6354763" type="General" weightage="100" keywordseo="ipo" source="Orion">IPO</keyword> (initial public offering) comprises a fresh issue of equity shares worth Rs 490 crore and an offer for sale (<keyword id="883402" type="General" weightage="50" keywordseo="ofs" source="Orion">OFS</keyword>) component of 1.05 crore stocks by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP). Those offering shares in the OFS include promoters -- Raj P Narayanam and Avinash Ramesh Godkhindi and investors -- VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and <keyword id="15835889" type="General" weightage="50" keywordseo="ventureast-trustee-company" source="Orion">Ventureast Trustee Company</keyword>. Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and general corporate purposes. Founded in 2011, the company operates in the business-to-business-to-customer segment. It has created a market niche in the country by offering a combined solution for spend management through prepaid cards and employee management (through SaaS). It offers digitized solutions for employee tax benefits, expense management, corporate gifting and rewards and recognition programmes. The company has 1,896 customers and 19.82 lakh users as of June-end. ICICI Securities, Equirus Capital, IIFL Securities and JM Financial have been appointed as merchant bankers to manage the IPO. The equity shares of the company will be listed on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> and NSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dabur-just-dial-hindustan-zinc-among-stocks-to-watch-out-for/articleshow/96359393.cms">Sensex, Nifty50 open lower amid mixed market cues – Dabur, Just Dial, Hindustan Zinc among stocks to watch out for</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/abans-holdings-ipo-here-is-how-to-check-the-allotment-status/articleshow/96360387.cms">Abans Holdings IPO: Here is how to check the allotment status</a>

Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO

New Delhi, Feb 1 (PTI) The proposal to issue green bonds in the Union Budget 2022-23 announced on Tuesday to mobilise resources for green infrastructure and the stress on energy transition to combat climate change, have won the government praises from environmental experts who said the initiatives will help reduce the carbon footprint of India. Experts hailed the budget for its focus on sustainable urban planning and mass transport saying the high-level committee of urban planners, economists and setting up institutions for capacity building is a welcome step. Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 on Tuesday while announcing several climate action initiatives like energy transition, issuing of green bonds, sustainable urban planning and others. Dr Anjal Prakash, Research Director and adjunct Associate Professor at the Bharti Institute of Public Policy, Indian School of Business, said that for climate action, "this budget fairs quite well." "The focus on sustainable urban planning and mass transport is a welcome step. It is estimated that half of Indians will be living in urban areas by 2050. The high-level committee of urban planners, economists and setting up institutions for capacity building is a welcome step. I hope that the planners will recommend urban infrastructure to be climate-resilient as many Indian cities are prone to climate-related risks and disasters," he said. Prakash, who is also the lead author of the chapter on cities, settlements, and critical infrastructure and a cross-chapter paper on mountains as part of IPCC's 6th Assessment cycle, also said that the green bonds will help reduce India's carbon intensity. "Announcing a climate action fund is a welcome step where the government's share is a maximum of 20 per cent and the rest is by the private parties. The Green Bonds for mobilising green infrastructure will be used for projects that will help reduce India's carbon intensity. The allocation for renewable energy and energy storage technologies such as solar modules are another area that needs applause," he said. Sharing a similar view, Chirag Gajjar, Head of Subnational Climate Action, Climate Program, World Resources Institute India (WRI India), said that access to green bonds will enable local governments to cost-effectively finance basic public infrastructure projects that will lead to climate co-benefits. Focus must be on building capacity of local governments to access such finance avenues, he said. Another expert said that India will now join a select group of countries, primarily European, which have issued Green Bonds. "The budget proposal to issue sovereign green bonds has several benefits, principal among which is signalling the country's seriousness in pursuing climate action. "India will now join a select group of countries, primarily European, which have issued such bonds. We can also expect this move to catalyse the development of the domestic corporate green bond market," said Gagan Sidhu, Director, Council on Energy, Environment and Water-Centre for Energy Finance (CEEW-CEF). In her budget speech, the finance minister announced that as a part of the government's overall market borrowings in 2022-23, sovereign Green Bonds will be issued for mobilizing resources for green infrastructure. "The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy," Sitharaman said. Lauding the move, Aarti Khosla, Director, Climate Trends, said that the mention of green bonds as part of overall market borrowings is a good step to raise funds for projects ear- marked as green infrastructure. Khosla also said that the budget strongly acknowledged climate change and clean energy transition, adding that it all needs to be placed properly in policy and regulation. "It was perhaps the first Union Budget to acknowledge climate action in it's opening statement. The budget seemed to acknowledge clean energy transition as a fundamental principle- there was mention of clean tech solutions, battery swapping policies, improving EV efficiency, finalising the Rs 19500 cr PLI scheme for solar as a way to move ahead on low carbon strategy," Khosla said. Ulka Kelkar, Director, Climate, World Resources Institute India (WRI India), said that by referring to climate action as a sunrise sector and employment generator, the Budget has sent an important signal to markets, financial institutions and the workforce. "Biomass pellets, energy efficient buildings, coal gasification and agroforestry are just the start of the transition to a carbon-neutral economy. The upcoming green hydrogen mission and circular economy action plans can initiate a deep shift towards industrial decarbonization," Kelkar said. S N Tripathi, Steering Committee Member, National Clean Air Programme (NCAP), said that by fundamentally focusing on clean and sustainable development, the budget has focused on three major sectors: transport, energy and agriculture with an aim to reduce both- carbon dioxide and air pollution emissions - which augur well for clean air programs in the short term and achieving carbon neutrality in the long term. However, Vibhuti Garg, Energy Economist, Lead India, Institute for Energy Economics and Financial Analysis, said the announcements seem to have fallen short of promoting clean energy in an accelerated manner. PTI AG RCJ RCJ

Budget: Env experts hail proposal to issue green bonds to mobilise resources for green infra

<ul class="summary-list"><li>Prior to the recent scandals, <keyword id="11911533" type="UNKNOWN" weightage="60" keywordseo="boris-johnson" source="Orion">Boris Johnson</keyword> was tipped to be prime minister for a decade.</li><li>But now, his grip on power is weakening — and leadership rivals are emerging.</li></ul>It is almost unthinkable, but thinking about it, Conservative MPs most definitely are. Just two years after Boris Johnson secured the party's biggest victory since Margaret Thatcher's 1987 win, his backbenchers are openly discussing his departure —and who will succeed him. A few weeks ago, Conservative figures suggested Johnson could call a snap election to refresh his majority and cement his hold on power for another five years. Pundits predicted he could be in Number 10 for a decade. But then came successive leaks, allegations of conflicts of interest, self-dealing sleaze, lockdown-busting parties, and a slew of polls giving Labour a growing lead. Now there is a real chance that Johnson's tenure could be shorter than Theresa May's. May held the reins for just three years before resigning as post-Brexit negotiations and a hung parliament paralyzed her government and Westminster. In the summer of 2019, Johnson was waiting in the wings. The leadership campaign pitted Johnson against Sajid Javid and Matt Hancock, men he would later join his Cabinet. Rory Stewart garnered some support as a dark horse candidate, while Jeremy Hunt got down to the final two — and, ultimately, paid for it with a seat on the backbenches. In reality, the contest was a formality. Everyone knew Johnson — who famously, when a child, said he wanted to be "world king" — would take the crown. This time, perhaps because no one expected his demise so soon, things are quite different. There is no obvious pretender to the throne. Here's a look at who might be Britain's next prime minister.<h2>Liz Truss: '#InLizWeTruss'</h2>Liz Truss, Foreign Secretary and longest-serving government minister, appears on paper to be in with a shout. Having shed her pro-Remain stance to become a buccaneering libertarian, she regularly tops <a href="https://www.conservativehome.com/thetorydiary/2021/12/our-cabinet-league-table-johnson-falls-to-his-lowest-ever-negative-rating.html">ConHome's ministerial league table</a> (in fact, every month consecutively for over a year now). Truss has a penchant for photoshoots — some of which go awry — but recently channeled Thatcher by posing in a tank in Estonia, presumably in the hope of sending the Tory right wild. She has also been putting in the leg work, wining, and dining colleagues at the swanky private members club 5 Hertford Street. And yet it seems she is having limited success at winning MPs over. Despite asking backbenchers for weeks whether they fancy Truss as their next prime minister, Insider has yet to find one who backs her. "Liz Truss is not going to get in," says one MP. Another adds: "I would be astonished if Liz was in the final two."Asked if they would prefer Truss to Johnson, a third replied: "Urgh, she's no better."<h2>Rishi Sunak: The Chancellor's chances</h2><div type="image" title="UK Chancellor Rishi Sunak and US Treasury Secretary Janet Yellen in London on Friday." height="2652" width="3536" msid="88916311" hostid="261"></div>Rishi Sunak has the opposite problem. He was a relative unknown at the start of the pandemic, a junior Treasury minister with little experience of speaking to the public at large. At that time, Sajid Javid, then Chancellor, was given an ultimatum by Johnson and his then-chief of staff, Dominic Cummings, to sack his entire team of advisers and rely on a joint unit. When Javid refused, Sunak was brought in — just as his role would become crucial to helping the country through the COVID-19 pandemic. Sunak's team has actively promoted 'brand Rishi' in the last 18 months— meaning he has relatively high cut-through among the wider public. The brand is the polar opposite to Johnson's: one of quiet competence, perhaps a little boring and nerdy, but not without self-deprecating charm. Yet his role in the high-spending, high-taxing government has not gone unnoticed: Sunak's popularity has sunk among Tory members in recent months. While some MPs still believe "he can come and save us," says one backbencher, it's hardly conclusive. "The Chancellor lost support on tax and cost-of-living issues," says a 'Red Wall' MP, a traditional Labour party seat that fell to the Conservatives in Johnson's 2019 victory. A former minister gives a more damning verdict."Rishi comes with Dom Cummings baggage — Dom is working for Rishi, maybe not explicitly, but his whole motivation is to get Rishi into No 10 and that has to worry people," the MP tells Insider. "We can't have the country run by Dom Cummings any longer. He ran it for Boris. Now he is running it to get rid of Boris. Since 2016, Dominic Cummings has been behind all the decisions of this country." <h2>Also runners — or dark horses?</h2>Beyond these two figures, there is no consensus about who could take the reins. One MP favors Penny Mordaunt, a Brexiteer former minister, and Royal Navy reservist, who is said to have been on maneuvers almost as long as the others. Another fancies James Cleverly, a Foreign Office minister, and former Conservative party chairman, who "ran the machinery of the party and is incredibly well thought of". Priti Patel, the Home Secretary, has some supporters but others argue she would struggle for having failed to address the crisis of small boats, filled with immigrants, crossing the Channel. Robert Buckland, the former Justice Secretary, is said to be canvassing support, while Tom Tugendhat, the chairman of the Foreign Affairs Committee, is talked about in the same terms as Stewart once was."I have even heard [backbenchers] Graham Brady and Julian Lewis saying they would be the dream ticket," one MP scoffed. The names run on and on. Backbenchers argue that they do not need a chosen replacement to depose Johnson, which is technically correct. But the reality is that there is no viable alternative around which to coalesce without at least a couple of strong contenders. It has made more would-be leadership hopefuls start to mobilize."The possibility of a leadership challenge has made a number of the Cabinet decide they can't be sheep," says one member of the government. "Now they are growing wolves' fangs."

Boris Johnson's possible demise is making ministers 'grow wolves' fangs' as leadership rivals mobilise

New Delhi, Feb 15 () Association of stock brokers ANMI on Saturday said it will mobilise one crore investors for the initial public offering of insurance behemoth LIC in order to unlock the true potential of the country's crown jewel, akin to the Saudi Aramco.Finance Minister Nirmala Sitharaman in her budget speech announced that the government proposes to sell a part of its holding in LIC through IPO.The proposed listing will help the government in achieving its disinvestment target of Rs 2.1 lakh crore for 2020-21."It would be our endeavour to mobilise one crore investors for LIC's IPO and unlock the true potential of India's crown jewel, akin the Saudi Aramco in the Middle East and Apple's listing in the US," Association of National Exchanges Members of India (ANMI) President Vijay Bhushan said.LIC's initial share-sale will be the IPO of the decade and ANMI will support the government in its effort to mobilise investments, including the landamark initial offer of the insurance behemoth, he added.Currently, the government owns the entire 100 per cent stake in LIC and according to market experts, the company can be valued at around Rs 8-10 lakh crore.Saudi Aramco, which is currently valued at USD 117.82 billion, was listed on Saudi Stock Exchange in December last year.ANMI is an association comprising around 900 stock brokers from across the country who are members of the National Stock Exchange, BSE, Multi Commodity Exchange and other exchanges having national presence. SPBAL

ANMI to mobilise one crore investors for LIC's IPO

New Delhi, Jun 22 () State Bank of India (SBI) has mobilised 13,212 kg of household and institutional gold through the Gold Monetisation Scheme (GMS), according to the state-owned bank's annual report. It added that the country's largest lender collected as much as 3,973 kg of gold during 2019-20 under the GMS, a programme launched by the government to utilise gold lying idle with individuals as well as trusts. "During FY2020, (the) bank mobilised gold amounting to 3,973 kgs, bringing the cumulative mobilisation to 13,212 kgs," said SBI in the report. The government launched the GMS in November 2015 to mobilise idle gold held by households and institutions. The objective of the scheme was to facilitate use of idle gold for productive purposes, and also reduce the country's dependence on imports. The bank further said that during 2019-20, it mobilised 647 kg (Rs 243.91 crore) through sovereign gold bonds (SGB), thus taking the total gold mobilised since inception of the scheme to 5,098 kg (Rs 1,561 crore). The SGB scheme was introduced by the government during 2015-16 to promote digital gold instead of physical gold for investment purposes. As a primary player in the field of bullion banking, the bank has been making available metal gold loan to jewellers engaged in manufacturing of gold ornaments for the domestic and export purposes. During 2019-20, the bank extended metal gold loan to jewellers to the extent of 22,255 kg and sold 2,522 kg of gold under the 'Sale of Gold' scheme to jewellers and traders. NKD CS HRS

SBI mobilises 13,212 kg gold through Gold Monetisation Scheme

Bengaluru, Apr 13 () Karnataka Chief Minister onMonday said the COVID-19 situation has thrown the state into adeep financial trouble and there is a need to to find ways toovercome the present crisis, as he announced certain measuresaimed at resource mobalisation.He said the state government was awaiting guidelinesfrom the Centre regarding the implementation of lockdownduring the next two weeks, and noted that discussions were onregarding relaxations on the sale of liquor and the decisionwill be taken after April 14.Yediyurappa on Monday held a meeting with officials ofvarious departments along with his cabinet colleagues and theChief Secretary."The possible situation once the lockdown is released,was widely discussed in the meeting. Discussion was also heldabout the financial situation of the state government and howto mobilise resources. Many suggestions were given and it wasdecided to implement those suggestions," the Chief Ministersaid.Speaking to reporters after the meeting, he said,"...the COVID-19 situation has thrown our state into deepfinancial trouble and there is a need to to find ways toovercome present financial crisis."Yediyurappa said it was decided to speed up thedisposal of cases related to regularisation of unauthorisedconstructions which are pending before the High Court andSupreme Court, during the meeting. "If the court decides the matter, thousands ofpeople who own unauthorised houses will be relieved," he said,adding that this will also help government in mobilisingresources for fund starved development works.He said in addition to this the government is planningto auction more than 12,000 corner sites lying idle inBengaluru, and it was also decided to allow auction of cornerand vacant sites in respective urban development authoritiesacross the state."By auction of corner sites in Bengaluru, we plan tomobalise about Rs 14,000-15,000 crore. BDA is preparing forit, only if we get good market value we will sell or else no,"he added.It was also decided to amend the law governingpermission to allow sites in private and co-operative housingsocieties, the Chief Minister further said, adding thathundreds of societies were waiting for approval fromgovernment for releasing the sites.Yediyurappa said it was decided to use Rs 1,000 croreavailable in Rajiv Gandhi Health University to upgrade medicalcollege hospitals.It was also decided to distribute free milk to slumsand poor for one more week, the Chief Minister said whileappealing to sugar factory owners to clear the pending paymentto the tune of Rs 2,834 crore to farmers in 11 districts.The government has also released Rs 45 crorecompensation for the loss of paddy crop in Raichur and KoppalDistrict due to hailstorm based on report submitted by DeputyCommissioners, he added.Responding to a question, Yediyurappa said, still noguidelines have come from the Centre on lockdownimplementation for next two weeks, we are waiting for it.Once the guidelines come it will help us to speed upthe process of lockdown, and also relaxations if any.Asked what plans does the government have if statesare asked to decide on relaxation, he said, already PrimeMinister has said that guidelines will be given, if they sayon certain matters states can take decision, we will decide onwhat needs to be done to improve the state's economy.To a question on relaxation on sale of liquor throughMysore Sales International Ltd (MSIL) outlets, he said,discussions are on, after April 14, we will take decision inthis regard. KSU

K'taka focus on resource mobilisation to overcome "financial trouble" due to COVID-19

New Delhi, Feb 25 () Markets regulator Sebi on Tuesday directed Vayaa Builder and Developers Pvt Ltd and its directors to refund the money it had illegally mobilised by running an unregistered collective investment scheme. The company collected a little over Rs 4 crore from investors through different land and plot allotment scheme under the garb of a real estate business, Sebi noted. The company was carrying on these collective investment schemes (CIS) without obtaining requisite registration from the regulator. The funds along with returns due to the investors need to be refunded within three months and thereafter a winding up and repayment report has to be submitted to the regulator. "The noticees are restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities market, directly or indirectly, till the directions for refund/repayment to the investors are complied with... to the satisfaction of Sebi and repayment completion certificate is submitted to Sebi and thereafter for a further period of four years from the date of completion of the refund," Sebi said. The noticees are Vayaa Builder and Developers and its directors-- Yogendra Bisay and Jitendra Bisay. The directors have also been restrained from holding position as directors or key managerial personnel of any listed company for four years. SRSRVK

Sebi directs Vayaa Builder and Developers, its directors to refund illegally mobilised funds

New Delhi, Dec 20 () IMF Chief Economist Gita Gopinath on Friday said India needs to keep its fiscal deficit target, which would require expenditure rationalisation and increased revenue mobilisation.
 Speaking at the 92nd Annual Convention of Ficci, she said that in the past few quarters, there has been a steep slowdown in private sector demand and there is now weakness in investment.
 And, if there is a prolonged weakness in investment, it will affect potential growth, she stressed at the special plenary moderated by Harsh Pati Singhania, former president of Ficci.
 "For India, macro stability is very important, which means stability on the fiscal front. A clear sense of keeping to the target of fiscal consolidation is very important. That would require increasing revenue mobilisation and also rationalising expenditure," Gopinath said.
 With tax revenue slowing in a sputtering economy, some states had on Wednesday suggested Finance Minister Nirmala Sitharaman to go for fiscal expansion and relax the deficit target to 4 per cent of the gross domestic product (GDP).
 The finance minister in full Budget 2019 reduced the fiscal deficit target to 3.3 per cent, from earlier 3.4 per cent for 2019-20. Keeping in mind its fiscal deficit target, the government has stayed with the borrowing plan for the financial year as announced in the Budget despite a sharp cut in corporate tax rate that is expected to cost Rs 1.45 lakh crore.
 Gopinath further said that "when we talk about fiscal consolidation, we think of it as a medium-term target which is something that has to be addressed over a period of time and not necessarily overnight".
 India's consolidated deficit (the Centre and states combined) is the highest among the G20 nations, she added.
 "So, it's not a free lunch and this has be very carefully managed," she said.
 The IMF's chief economist also said it is also important for India to undertake reforms.
 But, to be able to do this, some clarity, greater clarity and greater certainty would help, she said adding that "this is also applied to big reforms like the GST (goods and services tax)".
 On increasing share of the manufacturing sector, Gopinath said another set of big reforms are required to get manufacturing on the ground and for India to have bigger presence on the export front.
 There are important reforms needed with respect to land acquisition and labour laws.
 "Now, we would like to think that with the government having strong political mandate, this would be right time to undertake those kind of reforms. In the absence of it, India is missing out on what we assume globally in terms of shifting global supplies," she added.
 India's economic growth slowed to an over six-year-low of 4.5 per cent in the second quarter of the current financial year.
 Fitch Ratings on Friday cut India's GDP growth forecast for 2019-20 to 4.6 per cent on deterioration in business and consumer confidence. BKS NKD HRS

India needs to keep fiscal deficit target; requires increased revenue mobilisation: Gopinath

Cabinet Secretary P K Sinha today interacted with the municipal commissioners of 97 cities included in the Smart Cities Mission and chief secretaries of all states and Union territories on the implementation of the programme and asked them to focus on resource mobilisation. 
 Complimenting the 20 winners of the first round of <keyword id="513113" type="UNKNOWN" weightage="80" keywordseo="smart-city">Smart City</keyword> Challenge Competition, he said it said was fiercely contested based on comprehensive evaluation criteria. 
Highlighting the importance and urgency being accorded by the government to Smart City Mission, Sinha, in a video conference here, stressed that the urban sector has emerged as a major contributor of economic activity. 
 
He said that given the limitations of central and state governments in terms of resources, Mission Cities should focus more on other means of resource mobilization like convergence of various schemes, rationalization of user charges, an Urban Development Ministry spokesperson said. 
 
The Cabinet Secretary said those who could not make it to the first list announced yesterday need not be disappointed as they get two more opportunities to compete in the next few months. 
 The Municipal Commissioner of <keyword id="58537" type="CITY" weightage="80" keywordseo="Bhubaneshwar">Bhubaneshwar</keyword>, which topped the list of 20 winners, informed the Cabinet Secretary that sustainable urban planning, developing sound economic ecosystem and credible <keyword id="25456" type="ORGANIZATION" weightage="80" keywordseo="financial-planning">financial planning</keyword> through city-level infrastructure development fund were the strong points of their proposal. 
 The Municipal Commissioner of <keyword id="2094" type="COMPANY" weightage="80" keywordseo="Pune">Pune</keyword>, which came in second, said focus on quality of life in the city, creation of qualitative economic infrastructure as a part of a 15 year master plan and sustainability features were the core strengths of the city's proposal. 
 
Sinha informed the 23 states and Union territories, which were not represented in the first list, that they could participate in fast-track competition by submitting upgraded smart city proposals of one top ranked city in each state and UT by April 15, 2016. 
 
Most of the cities who could not make to the winners list informed the Cabinet Secretary that preparation of the proposals and participation in the competition was a huge learning experience and they were determined to improve upon their proposals by working on the deficiencies. 
 
Some of them admitted to possible inadequacies with respect to certain parameters like implementation frame work, credibility of financing plans and sustainable urban planning. 
 
Image credit: Indiatimes

Smart Cities: Cabinet Secretary asks cities to focus on resource mobilisation

New Delhi: After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September. IPOs scheduled for next week, beginning October 7, are <keyword id="22922418" type="General" weightage="20" keywordseo="Garuda-Construction" source="keywords">Garuda Construction</keyword> and Engineering on the main board and <keyword id="23436926" type="General" weightage="20" keywordseo="Shiv-Texchem" source="keywords" meta.keywordsubtype="org" meta.entityname="Shiv Texchem" meta.hostid="153" meta.entityid="Shiv Texchem">Shiv Texchem</keyword> on the SME segment. Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10. The stock market has seen a significant correction in the <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> since the start of October amid intensifying conflict between Israel and Iran. Despite the temporary slowdown, overall, the outlook for the <keyword id="19926041" type="General" weightage="100" keywordseo="IPO-market" source="keywords">IPO market</keyword> is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi's approval while another 55 companies looking to garner about Rs 89,000 crore are awaiting the regulator's clearance, according to the Primedatabase. This month will see <keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords">Hyundai Motor India</keyword> Ltd, the Indian arm of South Korean automaker Hyundai, hitting the primary market to raise around Rs 25,000 crore. The company's IPO is likely to be launched on October 14, according to sources. If the offering proceeds as planned, it will surpass Life Insurance Corporation's (LIC) public offering of Rs 21,000 crore, becoming the largest IPO in India's history. Moreover, 63 companies have already mobilised around Rs 64,000 crore via mainboard, marking a 29 per cent increase from Rs 49,436 crore collected by 57 firms through the route in 2023. The strong momentum in IPO markets is being driven by several key macroeconomic, sector-specific factors and the willingness of funds to look at new ideas. In particular, strong inflows into domestic mutual funds and robust capital formation across corporate India are playing key roles, experts said. Garuda Construction and Engineering's IPO is a mix of fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures. The price band has been fixed at Rs 92 to Rs 95 per share. About Rs 100 crore from its fresh issuance proceeds will be utilised for working capital requirements and the balance towards general corporate purposes, including unidentified inorganic acquisitions. Shiv Texchem's IPO is a completely new offering of over 61 lakh shares and is a book-built issue of Rs 101.35 crore. It has set a price band of Rs 158 to Rs 166 per equity share for the IPO. Further, the SME IPO of Khyati Global Ventures, which opened for public subscription on October 4, will close on October 8. Additionally, six companies from the SME segment are set to list in the coming week. HVAX Technologies and Saj Hotels will debut on October 7, followed by Subam Papers and Paramount Dye Tec on October 8. NeoPolitan Pizza and Foods will begin trading on October 9, with Khyati Global Ventures to follow on October 11.

You Searched For "mobilise" and got 11 results

Rishabh Instruments files draft papers with SEBI to mobilise funds via IPO

PTI

Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO

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Budget: Env experts hail proposal to issue green bonds to mobilise resources for green infra

PTI

Boris Johnson's possible demise is making ministers 'grow wolves' fangs' as leadership rivals mobilise

Catherine Neilan

ANMI to mobilise one crore investors for LIC's IPO

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SBI mobilises 13,212 kg gold through Gold Monetisation Scheme

PTI

K'taka focus on resource mobilisation to overcome "financial trouble" due to COVID-19

PTI

Sebi directs Vayaa Builder and Developers, its directors to refund illegally mobilised funds

PTI

India needs to keep fiscal deficit target; requires increased revenue mobilisation: Gopinath

PTI

Smart Cities: Cabinet Secretary asks cities to focus on resource mobilisation

BI India Bureau

IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

PTI

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