ArisInfra Solutions garnered Rs 225 crore from anchor investors ahead of its IPO launch, allocating shares to 15 funds at Rs 222 apiece. The nearly Rs 500-crore IPO, opening June 18, features a price band of Rs 210-Rs 222 per share. Proceeds will fund working capital, subsidiary investments, and debt repayment, with equity shares expected to list on June 25. View More

New Delhi, ArisInfra Solutions Ltd on Tuesday said it has raised Rs 225 crore from anchor investors , a day ahead of the launch of its initial share sale for public subscription. Astorne Capital VCC, Niveshaay Hedgehogs Fund, Citigroup Global Markets Mauritius, Rajasthan Global Securities, Sunrise Investment, Nexus Global Opportunities Fund, Zeal Global Opportunities Fund, Saint Capital Fund, Beacon Stone Capital among others have been allotted shares in the anchor round. According to a circular uploaded on BSE's website, ArisInfra Solutions allocated 1,01,26,946 shares to 15 funds at Rs 222 per equity share, which is the upper end of the IPO price band. The nearly Rs 500-crore IPO will open for subscription on June 18 and conclude on June 20. The price band has been set at Rs 210 to Rs 222 per share for the public issue. The IPO is completely a fresh issue of equity shares worth Rs 499.6 crore with no offer for sale (OFS) component. Live Events At the upper end of the price band, the company is valued at nearly Rs 1,800 crore. Proceeds of the issue will be used for funding the working capital requirements of the company, investment in the subsidiary, Buildmex-Infra, for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt Ltd, repayment of loan and for general corporate purposes. Earlier, the company attracted pre-IPO placement from Param Capital founder Mukul Agrawal, along with asset management firm Singularity Ventures, and Sundar Iyer, founder of Suryoday Trust and Rays of Life Foundation. Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitizing the procurement process for construction materials . Between April 1, 2021, and March 31, 2024, the company has delivered 10.35 million metric tonnes of construction materials, including aggregates, ready-mix concrete, steel, cement, construction chemicals and walling solutions, utilizing 1,458 vendors and serving 2,133 customers across 963 pin codes in various cities. JM Financial , IIFL Securities and Nuvama are the book running lead managers to the public issue. The equity shares are expected to be listed on June 25 on the stock exchanges. PTI (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

A recent steel ministry order mandating BIS standards for imported semi-finished steel and their raw materials is causing concern among MSMEs. Effective June 16, the rule threatens losses and plant shutdowns as many businesses have shipments en route that may not comply. View More

The steel ministry 's latest order on sectoral standards could hurt MSMEs dependent on semi-finished imports, as they now fear heavy losses and potential plant shutdowns, think tank GTRI said on Tuesday. It said that the steel ministry's June 13 order has expanded India's quality control regime to ensure that not just BIS (Bureau of Indian Standards) licensed products are imported in the country, but also the input/raw materials used to make them conform to the relevant Indian standards issued by BIS. The order came into applies to shipments with a bill of lading dated June 16 onward. "The rule has triggered fears of massive losses and plant closures among MSMEs that rely on imported semi-finished steel . Many have already paid for shipments now deemed non-compliant," the Global Trade Research Initiative (GTRI) said. As per the order, not only should finished/semi-finished steel products comply with Indian Standards (IS), but also the raw materials or inputs used to make them. Live Events This change applies to all steel and steel products covered under Quality Control Orders (QCOs). Importers have to ensure that input materials such as slabs, billets, or hot-rolled coils that are used to make BIS-certified steel in the foreign factory also need to adhere to the relevant BIS standard. "India's sudden expansion of its steel import rules has sparked fears of major losses among small manufacturers. Industry groups say the new order gives businesses no time to comply," GTRI Founder Ajay Srivastava said. He added that importers now risk seeing their shipments declared non-compliant, even if contracts were signed months ago and goods are already in transit. Srivastava said that critics, too, have questioned the feasibility and need for this compliance. BIS certification for upstream suppliers can take six to nine months, yet the Ministry has enforced the new traceability requirement with only three days' notice and no stakeholder consultation, he added. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India's MSMEs are facing potential supply chain disruptions and factory shutdowns due to a sudden regulatory change by the Ministry of Steel. The new rule mandates Indian Standards compliance and Steel Import Monitoring System registration for raw materials, significantly increasing compliance costs. View More

Nippon Steel Corp. received US approval for its $14.1 billion acquisition of United States Steel Corp., to create one of the world's largest steel companies. The deal includes a national security agreement and substantial monetary investments.  View More

Hindustan Zinc Ltd (HZL) announced an ambitious capacity expansion plan to double its zinc, lead, and silver production, investing ?12,000 crore in a new 250 KTPA smelter at Debari, Rajasthan. This project, expected to complete within 36 months, aims to meet growing domestic and global demand driven by infrastructure and steel consumption. Despite the announcement, HZL's shares fell 4.5%. View More

Hindustan Zinc Ltd (HZL), a Vedanta Group company, on Tuesday announced a major capacity expansion plan as part of its 2x growth strategy aimed at doubling its zinc, lead, and silver production. Shares of Hindustan Zinc Ltd fell 4.5% on Monday to ₹489.85, down ₹23.10. The Board of Directors has approved the setting up of a new 250 kilo tonnes per annum (KTPA) integrated smelter at Debari, Rajasthan, along with matching expansion across mines and mills, at an estimated investment of around ₹12,000 crore, the company said in an exchange filing. The project is expected to be completed within 36 months from the zero date and will be funded through internal accruals and debt. Once operational, the new facility will significantly augment HZL’s existing refined metal production capacity of 1,129 KTPA, which stood at 93% utilisation in FY25. “We are excited to announce this 2x growth project towards doubling our capacity across zinc, lead and silver, which is strategically aligned with the country’s expanding economic landscape, increasing demand opportunities and keeping country self-reliant for Zinc,” said Arun Misra, Chief Executive Officer of Hindustan Zinc. “By closely matching the pace of national growth, we are confident that this will create significant value for our stakeholders and drive long-term success.” Live Events The move comes amid growing domestic and global demand for zinc, driven by increased infrastructure activity and steel consumption. The company will hold an investor call on Tuesday, June 17 at 4:00 pm IST to elaborate on its 2x growth roadmap. Hindustan Zinc is the world’s largest integrated zinc producer and among the top five silver producers globally. The company commands around 77% market share in India’s primary zinc segment and supplies to more than 40 countries. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The event, themed ‘Thane means business: Manufacturing excellence, entrepreneurial drive’, will bring together local MSMEs, policymakers, enablers, and industry stakeholders. View More

Ahead of the World MSME Day, Economictimes.com is set to host the ET Make in India-SME Regional Summit in Thane on June 26, 2025. The event, themed ‘Thane means business: Manufacturing excellence, entrepreneurial drive’, will bring together MSMEs, industry leaders, associations, and all stakeholders for an engaging summit in the fastest growing suburb of Mumbai Metropolitan Region (MMR). Register here for Thane summit Thane, the third most industrialised district in Maharashtra, serves as an enabling hub for MSMEs. Its strong industrial base, well-developed infrastructure, and proximity to major markets benefit the small businesses in the region. And an added advantage is the Thane-Belapur-Kalyan industrial belt, which is a hub for modern industries. The district of Thane is home to 161,357 MSMEs, as per data from the Udyam portal. Out of these, 141,955 are microenterprises, 18,436 are small, and 966 are medium-sized enterprises. The event will begin with a keynote address by Sonali Deore, General Manager, DIC, Thane. This will be followed by a panel discussion on the topic ‘MSMEs and Maharashtra’s Economic Engine: Unlocking Growth from Thane’. The panellists for the discussion include Bhavesh Maru, General Secretary, Thane Small Scale Industries Association; Raghuveer Kini, Director General, CHEMEXCIL; Aniket Malshe, Director, Nichem Solutions; and Pankaj Chadha, EEPC Chairman & MD, Jyoti Steel Industries. Live Events Next will be an exclusive fireside chat with a representative of New India Assurance. The SME Summit will also serve as a platform providing networking opportunities to local small businesses and industry leaders. They can engage, connect, and have an open dialogue. The event is conducted by Economictimes.com with New India Assurance Co. Ltd as the General (Non-Life) Insurance Partner. On the occasion of World MSME Day on June 27, 2025, ET Digital will also open registrations for its sixth edition of the ET MSME Awards 2025. The coveted award programme celebrates India’s top MSMEs for their achievements and contribution to the nation’s economic development. Register here for Thane summit.

UK Prime Minister Sir Keir Starmer hinted that the car and aerospace elements of the Trump tariff deal had been finalised. View More

Punjab National Bank led lenders of Bhushan Power and Steel have approached the Supreme Court. They want a review of the order against JSW Steel's acquisition. The Supreme Court had earlier ordered status quo on BPSL's liquidation. This provided relief to JSW Steel. JSW Steel had warned that liquidation would harm stakeholders. View More

Bhushan Power and Steel ( BPSL ) lenders including SBI, led by the Punjab National Bank , on Monday moved the Supreme Court seeking review of its May 2 judgment that scrapped the JSW Steel ’s acquisition of the debt-laden firm. The review comes after the apex court had on May 26 ordered status quo on the liquidation proceedings of bankrupt BPSL, giving a big relief to Sajjan Jindal-led JSW Steel, which had warned that the liquidation will be “fatal” to it and other stakeholders, including lenders and workers. The SC had said that the status quo shall operate till it decided the review petition that was likely to be filed by JSW and lenders against the May 2 judgement that rejected the former’s Rs 19,300-crore resolution plan for BPSL, citing non-compliance with rules. JSW had asked the Supreme Court to keep the liquidation of BPSL in “abeyance” before the National Company Law Tribunal (NCLT) till the company exhausted all its legal remedies. The liquidation of the company might “jeopardise” the review petition to be filed by JSW Steel, it had added. JSW is yet to file its review petition, according to the sources. Live Events The May 2 ruling had scrapped JSW Steel’s acquisition of BPSL after four years on the grounds that the resolution plan was “illegal” and “in gross violation” of the Insolvency and Bankruptcy Code (IBC). While directing the NCLT to initiate liquidation proceedings against BPSL, the court had then directed that payments made to financial and operational creditors and the equity contribution by JSW be refunded within two months, as undertaken by the lenders to the bankrupt firm. Bhushan Power owed over Rs 47,000 crore to lenders when the Reserve Bank of India put it on a bankruptcy resolution list in 2017. The NCLT began the resolution process in July that year, based on the filing of lead lender Punjab National Bank, which initiated criminal proceedings in 2019 against former directors of the company after unearthing a Rs 3,800 crore fraud on its books. PNB and State Bank of India led the CoC. JSW acquired Bhushan Power in March 2021 after its proposal was approved by the CoC and the NCLAT. The NCLT approved JSW Steel’s offer in 2019 while holding that the successful bidder could not be held responsible for any alleged misdeeds of the previous promoters at any stage. The NCLAT had upheld the decision in February 2020. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Despite recent price cuts in a challenging iron ore market, India's largest producer NMDC faces further pressure from a growing domestic surplus and declining exports. Though its near-term prospects appear subdued, it's boldly pursuing aggressive capacity expansion and international acquisitions. View More

Monolithisch India is seeing strong investor interest on the final day of its IPO, with a grey market premium of 25.9% (Rs 37–39) and a total subscription of 17.7 times. Retail investors led the demand, followed by NIIs and QIBs. The issue has received over 7.25 crore bids against 41.03 lakh shares reserved for investors. View More

Shares of Monolithisch India are trading at a healthy grey market premium ( GMP ) of 25.9%, or Rs 37–39, in the unlisted market on the final day of its bidding process. The initial public offering (IPO) has attracted a total subscription of 17.7 times so far. As of around 11:15 a.m. today, the issue—which opened for public subscription on June 12—received bids for 7,25,23,000 shares against 41,03,000 shares reserved for all categories of investors. Retail investors led the response with 41,174 applications bidding for 4,11,74,000 shares. This was followed by non-institutional investors (NIIs), who subscribed to 2,78,29,000 shares through 3,091 applications, and qualified institutional buyers (QIBs), who made 6 applications for a total of 56,50,000 shares. The SME IPO aims to raise Rs 82.02 crore by issuing 54.48 lakh new equity shares. The shares are slated to list on the NSE SME platform, with a tentative listing date of June 19, 2025. The IPO is priced in a band of Rs 135 to Rs 143 per share. Retail investors can apply for a minimum lot size of 1,000 shares, which translates to an investment of Rs 1.43 lakh at the upper end of the price range. Hem Securities is acting as the book-running lead manager, while Kfin Technologies is the registrar for the issue. Live Events Proceeds from the IPO will be used to fund capital expenditure for setting up a new manufacturing facility, invest in its subsidiary Metalurgica India Private Limited, meet working capital requirements, and cover general corporate expenses. About Monolithisch India Monolithisch India, incorporated in August 2018, is engaged in the manufacturing and supply of ramming mass—a crucial heat insulation material used in iron and steel induction furnaces. The company has demonstrated steady growth, expanding its client base from 43 in 2023 to 61 in 2025, reflecting a strengthening market presence. In FY25, Monolithisch delivered a robust financial performance, with revenue rising 41% to Rs 97.49 crore and net profit surging 70% to Rs 14.49 crore, compared to the previous fiscal year. Also read: Bajaj Finance shares didn’t crash 90%! Here’s what a stock split and bonus really mean ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)