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Coal India’s coal production falls 7.5% year-on-year to 169.6 mt in the first quarter this fiscal View More

Renfra Energy India is gearing up to unveil its Initial Public Offering (IPO), targeting Rs 430 crore by issuing new shares. In addition, the company intends to execute an Offer-for-Sale involving more than 47 lakh shares. The funds will be allocated towards debenture redemption, boosting working capital, and fulfilling general corporate requirements. View More

Renfra Energy India has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO) comprising a fresh issue of shares worth Rs 430 crore. Along with the fresh issue, there will be an Offer-for-Sale (OFS) of 47,94,800 equity shares by the selling shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday. The company's promoters -- Muthuraj Periyasamy, Chairman and Managing Director, and Jayendran, Executive Director -- are not participating in the OFS. The Tamil Nadu-headquartered company proposes to utilise the net proceeds from the fresh issue towards redemption of non-convertible debentures worth Rs 160 crore, funding working capital requirements of Rs 175 crore, and the rest for general corporate purposes. Renfra Energy may also undertake a pre-IPO placement of equity shares aggregating up to Rs 50 crore. If such placement is completed, the size of the fresh issue will be reduced accordingly. Live Events Incorporated in 2017, Renfra Energy operates in the turnkey engineering, procurement and construction (EPC) and renewable project execution segment, serving utility-scale as well as commercial and industrial (C&I) customers across Tamil Nadu and Puducherry. Its business spans solar energy solutions, wind energy solutions, and operation and maintenance services. For FY26, the company reported revenue from operations of Rs 1,013 crore, while profit after tax stood at Rs 156.8 crore. As of May 15, 2026, Renfra Energy had executed renewable energy projects with an aggregate installed capacity of 462.35 MW, comprising 412.85 MW of solar projects and 49.50 MW of wind projects. It also had ongoing projects with a combined capacity of 139.10 MW, including 83 MW of solar and 56.10 MW of wind projects. According to the draft papers, the company's listed peers include KPI Green Energy Ltd , KP Energy Ltd, Solarworld Energy Solutions Ltd and Zodiac Energy Ltd . Unistone Capital Pvt l is the sole book-running lead manager to the issue. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

With a projected 4.5 million tonnes of solar PV waste by 2050, stakeholder consultations are ongoing to establish norms for safe disposal and recycling by 2029-30. View More

The announcement came after South Korea announced on Monday three massive investment projects, spanning semiconductors, physical AI and AI data centers. View More

AI data center solutions at the SK Telecom Co. booth in the World IT Show in Seoul, South Korea, on Wednesday, April 22, 2026. SeongJoon Cho | Bloomberg | Getty Images U.S. private equity giant KKR will take management control of a new $1.3 billion renewable energy platform in South Korea, deepening its bet on growing demand for clean power from chipmakers and artificial intelligence data centers.KKR and SK Inc. said Wednesday they will launch what they described as South Korea's largest renewable energy platform, valued at 2 trillion won ($1.3 billion), integrating wind, solar and fuel cell assets previously held across the conglomerate's businesses. The platform will start with 1.7 gigawatts of operating capacity before scaling to 10 gigawatts — enough to power 100 large-scale, 100-megawatt data centers simultaneously, the companies said in a statement. KKR will hold initial management control in the venture, bringing together renewable businesses and assets from several subsidiaries under SK Group, including SK Innovation, SK ecoplant, and SK eternix. SK will participate as an equity investor and retains the option to seek control rights through future talks. The new venture will help South Korea meet the surging demand for clean power from AI data centers, semiconductor production lines, and other large industrial needs, KKR said in a statement. The announcement came after South Korea announced on Monday three massive investment projects spanning semiconductors, physical AI and AI data centers. SK Group, the country's second-largest conglomerate, said it planned to invest an average of 100 trillion won a year to expand semiconductor production and build AI data centers. "Korea is one of Asia's most attractive renewable energy markets, underpinned by strong corporate demand for clean power from the semiconductor, data center, and manufacturing sectors," said Keith Kim, a KKR partner. KKR is funding the deal through its Asia Pacific infrastructure strategy, which has invested more than $31 billion into energy transition and renewables globally since 2011. The Korea platform adds to KKR's renewable energy portfolio in the region, which includes investments in India-based Serentica Renewables and Australian companies CleanPeak Energy and Zenith Energy.The deal also came as SK Group continued to push through its years-long "value-up plan," including selling assets and restructuring efforts to reduce debt leverage. SK said the platform is part of a broader effort to sharpen its portfolio and improve capital efficiency. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The company plans to deploy the IPO proceeds to acquire Falcon Yarns, meet working capital requirements, and support general corporate purposes. View More

The Rs 170 crore Aastha Spintex IPO is in its final day of bidding and is drawing solid investor interest so far. The issue has been subscribed 3.06 times overall, with bids for 4.16 crore shares against 1.36 crore shares on offer, reflecting healthy demand. The Retail Individual Investors (RII) portion was subscribed at 1.73 times, with 54.40 lakh shares reserved for the category. The Grey Market Premium (GMP) is indicating a potential ~5% listing gain if market sentiment holds steady. Based on the prevailing GMP, the stock is expected to debut at around Rs 142, compared with the upper end of the price band at Rs 136. The public issue, worth Rs 170 crore, is an entirely fresh issue of equity shares with no offer-for-sale (OFS) component. The IPO is priced in the Rs 125–Rs 136 per share band and closes for subscription on July 1. The company’s shares are proposed to be listed on both the BSE and NSE. The company plans to deploy the IPO proceeds to acquire Falcon Yarns, meet working capital requirements, and support general corporate purposes. Aastha Spintex IPO Subscription Status The Aastha Spintex IPO witnessed strong investor participation on the third and final day of bidding as of 1:20 pm, with the issue subscribed 3.06 times overall against 1.36 crore shares on offer. Live Events Retail Individual Investors (RIIs): The retail category was subscribed 1.73 times, with bids for 54.40 lakh shares reserved for individual investors. Non-Institutional Investors (NIIs): The NII segment emerged as the strongest contributor, recording a subscription of 5.41 times against 54.40 lakh shares on offer. Qualified Institutional Buyers (QIBs): The institutional portion was subscribed 1.04 times, with bids for 27.20 lakh shares allocated to this category. Aastha Spintex IPO GMP Today The Grey Market Premium (GMP) for the Aastha Spintex IPO is currently hovering around 5%, indicating the possibility of modest listing gains if sentiment remains stable. Based on the prevailing GMP, the stock is expected to list around Rs 142, compared with the upper price band of Rs 136. The Grey Market Premium (GMP) is an unofficial indicator based on grey market activity. It is speculative in nature and should not be considered an official benchmark or a guarantee of listing performance. About Aastha Spintex Gujarat-based Aastha Spintex is engaged in the manufacturing of cotton spun yarn and operates an integrated spinning facility in Halvad. The company's product portfolio includes carded, combed and compact cotton yarn, catering to the weaving, knitting, hosiery and garment manufacturing industries across domestic as well as international markets. On the financial front, Aastha Spintex has delivered robust growth over the past three financial years. Its total income increased to Rs 352.2 crore in FY25 from Rs 239.7 crore in FY23, while net profit surged to Rs 22.9 crore from Rs 1.1 crore during the same period. The company reported a return on equity (RoE) of 12.8%, with the IPO priced at a P/E multiple of around 18.8x FY25 earnings. A key growth driver is the proposed acquisition of Falcon Yarns, which is expected to expand the company's annual spinning capacity from nearly 7,700 metric tonnes (MT) to 17,457 MT, strengthening its production capabilities and supporting future revenue growth. Despite its growth prospects, the company faces certain risks, including volatility in cotton prices, reliance on a single manufacturing facility, and customer concentration through a major reseller outside Gujarat. In the long run, increasing demand for synthetic fibres could also impact the cotton yarn business. Brokerage View Swastika Investmart has recommended a "Subscribe" rating for investors with a medium- to long-term investment horizon. According to the brokerage, the proposed acquisition of Falcon Yarns is likely to more than double the company's spinning capacity, creating a strong platform for future growth. The brokerage also highlighted Aastha Spintex's improving profitability and its focus on renewable energy. Nearly 80% of the company's energy requirements are met through solar and wind power, a move expected to lower production costs and improve operational efficiency. At a valuation of around 18.8x FY25 earnings, Swastika Investmart believes the IPO is reasonably priced considering the company's growth potential. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The study found a link between higher pollution levels and greater atmospheric attenuation View More

Maharashtra’s new grid charges and Karnataka’s tariff changes could increase electricity costs for residential, commercial and industrial rooftop solar users by 20–30%, extending project payback periods from about four years to seven to nine years View More

The ‘overcapacity’ argument posits that certain countries produce far beyond their domestic absorption capacity, dumping the surplus on world markets at a lower price, which undermines fair trade practices. View More

After the suspension of tariffs imposed under the International Emergency Economic Powers Act (IEEPA) of 1977, the US invoked Section 301 of the Trade Act of 1974 to investigate alleged excess capacity and forced labour, targeting several countries, including India. Recently, the Office of the United States Trade Representative (USTR) proposed to impose 12.5% tariffs on Indian imports due to alleged forced labour. Interestingly, the forced labour allegation is originally linked to China’s Uyghurs’ exploitation in the Xinjiang region. The allegation of ‘ industrial overcapacity ’ is also linked to China’s state-directed export activities. However, expansion of the same to other countries, particularly India, is inappropriate, empirically unsupported, and theoretically inconsistent. This may revive a fresh wave of tariffs against India and may hit several sectors badly where India’s exports to the US are significant, particularly for sectors such as textiles and apparel, electronics, motor vehicles and equipment, solar modules, etc. The ‘overcapacity’ argument posits that certain countries produce far beyond their domestic absorption capacity, dumping the surplus on world markets at a lower price, which undermines fair trade practices. When a country directs production targets and subsidises exports irrespective of demand, it creates serious repercussions for the domestic firms in the importing country. Though this is a legitimate concern acceptable in the WTO (World Trade Organization) framework, each overproduction (production higher than domestic demand) does not lead to dumping. When a country produces efficiently because of its factor endowments—abundant labour, accumulated skills, and lower input costs—and exports because there is foreign demand for its goods, it is not overcapacity. That is called ‘comparative advantage’, a concept of international trade theory established by economist David Ricardo that says that an economy should produce those specific goods or services which have a lower opportunity cost than its trading partners. The Heckscher-Ohlin theory also unambiguously states that countries should specialise in goods that use their relatively abundant factors intensively. Even a major producer country of a particular good may import the same from another country, according to the Armington theory (e.g., the import of German cars by the US). Seen in these contexts, India’s prominence in labour-intensive textiles, garments, and assembly-based electronics is not a policy distortion but economic coherence. Evidence drawn from the Global Trade Analysis Project (GTAP) database makes the overcapacity case against India difficult to sustain. Consider three key sectors. In textiles, India accounts for 5.1% of world production, but only 4% of world exports, and its export-to-output ratio—a proxy indicator to show how much a country may export after meeting its domestic demand—stands at a mere 17.7%, below the global average of 22.5%. Bangladesh exports 68% of what it produces; Vietnam, 56%; even the European Union, 55.6%. India is not an export-push economy in textiles; it is a consumption-oriented one. Live Events In electronics, the picture is even starker. India accounts for 1.8% of world production but just 0.9% of world exports. Its export-to-output ratio of 19.6% places it near the bottom of the global comparison, well below China (28.7%), Korea (65.8%), Vietnam (77.7%), and Mexico (83.6%). The global average of export-to-output for this sector is around 40%, showing that India is absorbing its own output. In motor vehicles and transport equipment, India’s export share is 1.2% of the world total, negligible against the EU’s 42.6%, China’s 10.2%, and the US’s 8.9%. These three countries together account for around 70% of the world’s production. However, the export-to-output ratios for the US (13.6%) and China (13.2%) are below the global average (33%), like India (15.7%). The export-to-output ratio is highest for the EU (75.4%), followed by Mexico, Canada, and the UK. Across all three sectors, India’s export-to-output ratio falls well below both the world average and its peer economies. An economy that retains 80% or more of its manufactured output for domestic consumption is, by any reasonable definition, catering to domestic demand, not flooding or dumping world markets. Analysing the WTO data of anti-dumping duty (ADD) measures taken worldwide during 2020-25, China seems to be flooding the world market. Out of 3,244 total ADD proceedings worldwide, 1,121 (approximately 35% of the total) have been against China, while India faced 102 (5%) such cases. Even India also initiated 405 such proceedings, the second highest, after the US (604 cases), showing a similarity in concerns of India and the US. A country that runs a persistent trade deficit and consumes around 60% of what it produces shows the symptoms of the inverse of an overcapacity economy. Therefore, India should strongly present its case before the US. The most pragmatic near-term channel is the ongoing bilateral trade agreement negotiation, which can be encashed for a formal carve-out, providing certainty for India’s industries. Since the US trade policy does not seem to be following a stable track, in parallel, India must accelerate market diversification through deeper ties with other trading partners, reducing its vulnerability to unilateral US action. Apart from signing trade agreements, India must continue its domestic reforms to unlock the potential and build resilience. Himanshu Jaiswal is a research scholar, and A. Ganesh-Kumar is a professor at the Indira Gandhi Institute of Development Research, Mumbai. Views are personal. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

Aastha Spintex's Rs 170 crore IPO entered Day 2 with a 4% grey market premium (GMP), indicating a potential listing around Rs 141 versus the upper issue price of Rs 136. The IPO saw a steady start, with the issue 88% subscribed on Day 1. View More

The Rs 170 crore initial public offering (IPO) of Aastha Spintex entered its second day of bidding on Tuesday with the Grey Market Premium (GMP) hovering around 4%, indicating a modest listing premium if prevailing market sentiment remains intact. Based on the current GMP, the shares are estimated to list at around Rs 141, compared with the upper price band of Rs 136. The IPO witnessed a steady response on the opening day, with the issue subscribed 88% overall. Investors bid for 1.19 crore shares against the 1.36 crore shares on offer. The Retail Individual Investors (RII) segment was subscribed 41%, with bids received against the 54.40 lakh shares reserved for the category. The Rs 170 crore public issue is a fresh issue of equity shares, with no offer-for-sale (OFS) component. The IPO is priced in the range of Rs 125-136 per share and will remain open for subscription until July 1. The company's shares are proposed to be listed on the BSE and NSE. The company intends to use the IPO proceeds to acquire Falcon Yarns, meet its working capital requirements, and fund general corporate purposes. Aastha Spintex IPO GMP Today The Grey Market Premium (GMP) for Aastha Spintex IPO is hovering around 4%, indicating the potential for modest listing gains if current market sentiment remains favourable. Based on the prevailing GMP, the shares are estimated to list at around Rs 141, compared with the IPO's upper price band of Rs 136. Disclaimer: GMP (Grey Market Premium) is an unofficial market indicator based on trading in the grey market. It is not an official price and should not be considered a guarantee of the stock's listing performance. Live Events Aastha Spintex IPO Subscription Status The Aastha Spintex IPO received a healthy response on the first day of bidding, with the issue subscribed 88% overall. Investors placed bids for 1.19 crore shares against the 1.36 crore shares on offer. Retail Individual Investors (RIIs): The retail portion was subscribed 42%, with bids received for 22.51 lakh shares against the 54.40 lakh shares reserved for the segment. Non-Institutional Investors (NIIs): The NII category witnessed the strongest demand, getting subscribed 1.38 times. Investors bid for 74.97 lakh shares against the 54.40 lakh shares allocated to the segment. Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 80%, with bids for 21.69 lakh shares against the 27.20 lakh shares earmarked for institutional investors. About Aastha Spintex Gujarat-based Aastha Spintex is engaged in the manufacturing of cotton spun yarn and operates an integrated spinning facility in Halvad. The company's product portfolio includes carded, combed and compact cotton yarn, catering to the weaving, knitting, hosiery and garment manufacturing industries across domestic as well as international markets. On the financial front, Aastha Spintex has delivered robust growth over the past three financial years. Its total income increased to Rs 352.2 crore in FY25 from Rs 239.7 crore in FY23, while net profit surged to Rs 22.9 crore from Rs 1.1 crore during the same period. The company reported a return on equity (RoE) of 12.8%, with the IPO priced at a P/E multiple of around 18.8x FY25 earnings. A key growth driver is the proposed acquisition of Falcon Yarns, which is expected to expand the company's annual spinning capacity from nearly 7,700 metric tonnes (MT) to 17,457 MT, strengthening its production capabilities and supporting future revenue growth. Despite its growth prospects, the company faces certain risks, including volatility in cotton prices, reliance on a single manufacturing facility, and customer concentration through a major reseller outside Gujarat. In the long run, increasing demand for synthetic fibres could also impact the cotton yarn business. Brokerage View Swastika Investmart has recommended a "Subscribe" rating for investors with a medium- to long-term investment horizon. According to the brokerage, the proposed acquisition of Falcon Yarns is likely to more than double the company's spinning capacity, creating a strong platform for future growth. The brokerage also highlighted Aastha Spintex's improving profitability and its focus on renewable energy. Nearly 80% of the company's energy requirements are met through solar and wind power, a move expected to lower production costs and improve operational efficiency. At a valuation of around 18.8x FY25 earnings, Swastika Investmart believes the IPO is reasonably priced considering the company's growth potential. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Waaree Solar Americas will supply 615 Wp and 620 Wp N-Type G12R photovoltaic modules, manufactured at its Brookshire, Texas facility View More