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Google says its $15 billion Visakhapatnam AI hub will use air cooling to limit water consumption, but protests over land acquisition, environmental risks and employment persist. The facility is expected to become operational in 2028. View More
A property seller facing a ?90.09 lakh income tax penalty after failing to file an ITR has received another chance to appeal. The ITAT condoned the delay and ordered fresh consideration, but did not cancel the penalty or decide the tax dispute. View More
The landowner chose to sell the TDRs he had received for surrendering 2,839 square metres of land. He sold them to a builder for Rs 6 crore but did not pay income tax on the proceeds. His understanding was that the amount received from the sale was a capital receipt and was therefore not taxable. View More
Indian Gas Exchange Ltd has received approval from Sebi to launch an initial public offering. The proposed IPO is exclusively an offer for sale of equity shares by promoter Indian Energy Exchange Ltd. IGX aims to enhance its visibility and strengthen its brand image through this public listing. The company has been operational since June 2020 and reported increasing revenue in recent years. View More
Indian Gas Exchange Ltd ( IGX ), the country's first online delivery-based trading platform for natural gas, on Monday secured Sebi's approval to float an initial public offering (IPO), an update with the regulator showed. The proposed public issue is entirely an offer for sale (OFS) of up to 1.67 crore equity shares by promoter Indian Energy Exchange Ltd (IEX), according to the draft red herring prospectus (DRHP). As the issue is entirely an OFS, IGX will not receive any proceeds from the IPO. The entire proceeds will go to the selling shareholder, IEX. The company had filed its preliminary IPO papers in July. After reviewing the draft prospectus, Sebi gave its final observation on October 12. Sebi's observations mark an important step in the IPO process, allowing the company to proceed with the preparations for the public issue, subject to applicable regulatory requirements. Live Events The approval comes amid a strong IPO fundraising momentum, with companies raising over Rs 1.1 lakh crore through 96 public issues so far in 2026. Several more IPOs are lined up for launch this month, signalling continued activity in the primary market. In the draft papers, IGX stated the primary objective of the IPO is to achieve the benefits of listing its equity shares on the stock exchange, which it expects will enhance its visibility, strengthen brand image and provide a public market for its shares. Indian Energy Exchange holds over 47 per cent stake in IGX, and as per regulations, it has to bring it down to 25 per cent. IGX was incorporated in November 2019 as a wholly-owned subsidiary of IEX. Its electronic gas trading platform was inaugurated in June 2020, and it received authorisation from the Petroleum and Natural Gas Regulatory Board (PNGRB) to operate as a gas exchange in December 2020. The company operates a technology-enabled electronic marketplace for trading natural gas through standardised physical delivery-based contracts across multiple delivery hubs connected to India's national gas pipeline network. According to the draft papers, unlike several international gas exchanges where a significant share of contracts are financially settled, IGX operates a physical delivery-based market and also offers forward contracts with tenures of up to six months. For the financial year ended March 2026, the company reported revenue from operations of Rs 61 crore, compared with Rs 48.8 crore in FY25 and Rs 34.8 crore in FY24. In January, IGX's Managing Director and CEO Rajesh Kumar Mediratta had stated that the country's first online delivery-based natural gas trading platform was targeting an IPO by December 2026. Axis Capital and Motilal Oswal Investment Advisors are the book-running lead managers to the issue, while KFin Technologies is the registrar. .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;width: 100%;box-sizing: border-box} .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)
McKinsey removed senior partner Chris Bradley from his leadership roles after reviewing his LinkedIn comments questioning the glass cliff phenomenon. Details of the post here. View More
The HRA provisions focus on whether the employee pays rent for accommodation actually occupied and whether the employee owns the property for which the exemption is claimed View More
Sahajanand Medical Technologies has set a price band of Rs 327-344 per share for its Rs 475.48 crore IPO, which opens on October 15 and closes on October 19. The issue is entirely an offer for sale, with shares scheduled to list on the BSE and NSE on October 22. View More
Sahajanand Medical Technologies Limited has fixed a price band of Rs 327-344 per equity share for its initial public offering (IPO), set to open for subscription on Thursday, October 15, 2026. The medical devices maker aims to raise Rs 475.48 crore through the public issue, which comprises an offer for sale (OFS) of up to 1,38,22,116 equity shares with a face value of Re 1 each. The selling shareholders include the promoter, Shree Hari Trust; promoter group member Dhirajkumar Savjibhai Vasoya; and investors Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding B.V. Since the IPO is entirely an offer for sale, the company will not receive any proceeds from the issue. The proceeds will go to the selling shareholders. Investors can bid for a minimum of 43 equity shares and in multiples of 43 shares thereafter. The offer is being made through the book-building process. The company has said that not more than 50% of the net offer will be reserved for qualified institutional buyers (QIBs), while at least 15% will be allocated to non-institutional investors (NIIs) and at least 35% to retail individual investors. Live Events The three-day subscription window is scheduled to close on Monday, October 19, 2026. The basis of allotment is tentatively expected to be finalised on Tuesday, October 20, while the equity shares are scheduled to list on the BSE and NSE on Thursday, October 22, 2026. ALSO READ: Cheap Venezuelan crude could add up to Rs 12,600 crore to RIL’s EBITDA. What investors should know Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India), and Nuvama Wealth Management are the book-running lead managers to the issue. MUFG Intime India is the registrar. About Sahajanand Medical Technologies Sahajanand Medical Technologies is a medical devices company focused on vascular and structural heart interventions. Its portfolio comprises Class III and Class C/D medical devices, including products used in cardiovascular procedures. Sahajanand Medical Technologies reported a 174.6% year-on-year jump in profit after tax to Rs 69.082 crore in FY26, compared with Rs 25.152 crore in the previous fiscal. Revenue from operations rose 18.1% to Rs 1,210.504 crore in FY26 from Rs 1,024.879 crore in FY25. For the three months ended June 30, 2026, the company reported a profit after tax of Rs 15.087 crore and revenue from operations of Rs 351.669 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The 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;width: 100%;box-sizing: border-box} .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)
Indian markets fell on Monday, with the Nifty 50 down 0.7% and Sensex down 0.76%, as investors weighed rupee concerns, high crude prices and monsoon risks. Analyst Chandan Taparia recommended PNB Housing Finance and TVS Motor, while technical levels suggest continued pressure on both indices. View More
The lease of the BKC land required Reliance to complete construction of the Jio World Convention Centre within four years, but the project was subsequently expanded and required additional approvals. View More
Can a paternal uncle claim his deceased brother’s property if the latter has a surviving son? Inheritance rights depend on the applicable succession law, surviving legal heirs, property ownership and the presence of a valid Will. Here’s what the law says about property claims by paternal uncles. View More