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Aritas Vinyl's Rs 38 crore IPO is now open, but the grey market shows no premium, suggesting a flat listing. The issue, priced between Rs 40-47, aims to fund working capital and a solar project. With a significant portion reserved for retail investors, the company manufactures artificial leather for various sectors and exports globally. View More

The IPO of Aritas Vinyl has opened for subscription on Friday with the issue entering the market amid muted grey market sentiment. The Rs 38 crore book-built issue is quoting at a grey market premium of 0%, indicating expectations of a flat listing at current levels. The IPO, which will close on January 20, is priced in a band of Rs 40 to Rs 47 per share and is slated to list on the BSE SME platform on January 23. Aritas Vinyl's public offer comprises a fresh issue of shares worth Rs 32.9 crore and an offer for sale of Rs 4.6 crore by existing shareholders, taking the total issue size to about Rs 37.5 crore. The proceeds from the fresh issue will be used primarily to fund working capital requirements and capital expenditure for a solar power project, along with general corporate purposes. In the grey market, the IPO is currently trading with no premium over the issue price. A GMP of 0% suggests that unofficial market participants are not factoring in any immediate listing gains. While grey market trends often reflect short-term sentiment, they are only a directional indicator and can change closer to the listing date depending on subscription response and broader market conditions. The IPO structure is tilted towards retail investors, with around 56.5% of the net offer reserved for the retail category. Non-institutional investors have been allocated about 37.5% of the issue, while qualified institutional buyers account for just under 1%. A portion of the issue has also been reserved for the market maker. Live Events The minimum application size for retail investors is 6,000 shares, translating into an investment of Rs 2.82 lakh at the upper end of the price band. Aritas Vinyl is engaged in the manufacturing and trading of artificial leather products, including PU synthetic leather and PVC-coated leather. The company caters to sectors such as automotive, fashion accessories and interior design, and also exports to markets including the UAE, USA, Greece and Sri Lanka. Its manufacturing facility in Ahmedabad has an annual capacity of about 7.8 million square metres. On the financial front, the company reported total income of Rs 98 crore in FY25 and a profit after tax of Rs 4.1 crore. For the five months ended August 2025, profit stood at Rs 2.4 crore. (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)

BHEL, NTPC, NTPC Green, NBCC, Indus Towers, Transrail, HBL Engg, Highway Infra, Pace Digitek, Krystal Integrated to hog limelight View More

Automakers Ford and GM are trying to figure out what to do with battery factories now that EV sales are falling way short of forecasts View More

U.S. automakers are increasingly entering the energy storage business as they pivot away from electric vehicles and try make use of battery factories that cost billions of dollars.Energy storage uses a lot of the same underlying technology as EV batteries to store power for homes, businesses and even utilities. Tesla has been investing in this area for at least a decade. Others automakers, such as Ford and GM, made significant announcements in 2025, just as uncertainty about the near future of EV sales began to grow. Electricity demand is growing after years of relatively flat prices, largely fueled by the rise of data centers, according to the U.S. Energy Information Administration. Electrification — or gas heaters, stoves and other appliances moving to electric ones — is also a factor, said Ramteen Sioshansi, a professor of engineering at Carnegie Mellon University who studies the electricity industry. But this market is still relatively new, he added, and how much demand there will be in the near future is speculative. "If a lot of auto manufacturers head in this direction, you end up with a glut of supply and not enough demand to absorb it," he said. "It could be a move where the vehicle manufacturers essentially find themselves in the same position they are right now with respect to electric vehicle demand." Battery power Renewable energy sources such as solar panels and wind turbines can have an "intermittency problem," meaning they only generate power when the sun is shining or a breeze is blowing — and that might not be when it's needed. Batteries can fill the gap by collecting and stockpiling electricity to use at another time or sell it back to the grid. Batteries can also collect energy from the grid at times when rates are lower, like at night. Energy-hungry businesses can use that storage to cut electricity costs. "It's a perfectly valid way of operating," said Pete Tillotson, senior research analyst at Benchmark Mineral Intelligence. "And it will form a revenue stream for the majority of assets on the grid." Automakers Ford said in December it would convert a Kentucky battery factory it had recently built with partner SK On to make batteries for energy storage. It also plans to devote some factory space to make cells for residential storage at a factory in Marshall, Michigan. Ford is still using the Marshall plant to make batteries for an upcoming midsize electric truck. It has spent about $10 billion on both the Kentucky and Michigan factories and is spending another $2 billion to grow the energy business, according to the company. Tesla's Energy division has been around since 2015, when CEO Elon Musk unveiled the company's Powerwall and Powerpack batteries. It has become a bright spot for Tesla, as its own EV market sales and share have fallen. Margins in that business are about double those of Tesla's automotive business, and its revenue is now about 20% of the EV maker's total. Fred Closter checks his Tesla Powerwall battery system on Thursday Feb. 17, 2022, at his home in Boynton Beach. Susan Stocker | Sun Sentinel | Getty Images Ford's crosstown rival General Motors founded GM Energy several years ago, then released a Tesla-like residential solar product called the PowerBank in October 2024. Last year, it said it would partner with Redwood Materials to used both old and new EV batteries for energy storage. GM Energy said in October that sales had quintupled since January, with 30% month over month revenue growth. Apart from the PowerBank batteries, the division also sells charging adapters and tech for using the vehicle itself as a backup battery for a home. Demand The cost of battery storage systems is significantly lower than forecasts were projecting about 15 years ago, Sioshansi said. There is also an all but guaranteed customer base. Utilities are required by law in some states to at least consider deploying energy storage, and California has set energy storage targets.Residential market-batteries, such as the Tesla Powerwall or GM PowerBank, can supplement a solar panel on the roof, act as a backup power source for blackouts or help with selling excess power back to the grid. But the relatively high cost of these systems for homeowners is liable to limit demand, Sioshansi said. Commercial uses vary. Demand from businesses like data centers is expected to surge. GM and Redwood Materials cited Department of Energy research showing a potential threefold jump in energy demand by 2028 over 2023 levels. Data centers that need a lot of power could see energy storage as a needed solution in the face of the shortfall. Bill Ford, Executive Chairman of Ford Motor Company, announces at a press conference that Ford will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. Bill Pugliano | Getty Images Meanwhile, EV sales in the U.S. dropped from about 10% of the new car market in the third quarter of 2025 to just under 6% the following quarter. Ford said in 2023 the company was expecting EV sales to be about 45% of new car sales by 2030. Now the forecast is 9% to 18%, Ford spokesperson Emma Bergg told CNBC. But energy storage is a very different business from selling cars. Though batteries share the same underlying technology, they are somewhat different technically; vehicle batteries have to be optimized for lightweight and compact shape and those for energy storage do not, for example. "They're significantly different products," Sioshansi said. "The customer, and how you need to market and sell these products, is going to look different compared to what a company like, take GM as an example, is accustomed to doing."Ford has no direct experience in energy storage, Tillotson said. However, he added, it does have experience working with CATL, the world's largest battery maker, which is providing battery tech for Ford's Marshall factory. The challenge is that these firms will have to compete against established players."You've then got relative skills gap — finding the workforce to be able to produce these quite complicated cutting-edge technologies against a competitor that has mastered scale and performance at scale," Tillotson said. "That will prove challenging. And that's not to say that I don't think the market could get there in the U.S., but it would have to take a relatively long time to get there unless they can find a workforce."One carrot for firms like Ford is a push toward U.S. manufacturing. There are tax credit incentives in the energy industry for projects that avoid certain countries considered "foreign entities of concern." In the case of energy storage, that means China, which is the world's largest producer of energy storage tech. "That's the big incentive to shift towards that technology," Tillotson said.

The hybrid project includes 108 MWp of contracted solar capacity and 25 MW of installed wind capacity, with a power purchase agreement signed with MSEDCL in November 2024. View More

Trump told reporters in the Oval Office that "we've been told that the killing in Iran is stopping. It's stopped. It's stopping, and there's no plan for executions." View More

US President Donald Trump speaks during a signing ceremony in the Oval Office of the White House in Washington, DC, US, on Wednesday, Jan. 14, 2026. Francis Chung | Politico | Bloomberg | Getty Images Oil prices fell more than 1% Wednesday after President Donald Trump signaled he might not attack Iran.U.S. crude oil fell 95 cents, or 1.55%, to $60.20 per barrel by 4:17 p.m. ET. Global benchmark Brent was down 93 cents, or 1.42%, to $64.54. Trump told reporters in the Oval Office that "we've been told that the killing in Iran is stopping. It's stopped. It's stopping and there's no plan for executions." The president had previously threatened to take "very strong action" against the Islamic Republic if it executes protestors. Oil prices had closed more than 1% higher Wednesday, but suddenly swung lower in extended trading as the market interpreted Trump's remarks as a sign that strikes might not be imminent.Trump said the U.S. is monitoring the situation in Iran when asked directly whether military action is off the table. Pedestrians pass a burned out building on Jan. 10, 2026 in Tehran, Iran.Getty Images | Getty Images "We're going to watch it and see what the process is," the president said. "But we were given a very good statement by people that are aware of what's going on. Everybody's talking about a lot of executions were taking place today. We were just told no executions. I hope that's true. That's a big thing."Iranian security forces have launched a crackdown against large-scale demonstrations with hundreds of people reportedly dead. The government has cut off Internet access making it difficult for the outside world to verify how the situation on the ground is developing. Iran is an OPEC member and a signficiant crude oil producer. Traders are watching to see if the social unrest in the Islamic Republic disrupts oil supplies. Catch up on the latest energy news from CNBC Pro:Morgan Stanley says nuclear power is gaining momentum, recommends these stocksThis solar stock has nearly 30% upside, Wells Fargo saysThis stock could benefit as Trump tries to put a nuclear reactor on the moon, according to BofATrack all the latest coverage of oil prices and the oil and gas industry at CNBC.com.

With a total investment of ?3,000 crore, the project combines large-scale solar generation with battery storage, enabling round-the-clock, reliable renewable power View More

The firm will supply and instal 3,263 off-grid DC solar photovoltaic water pumping systems under the PM-KUSUM B Scheme View More

IREDA’s Q3 profit jumped 38% on strong interest income and lower funding costs, but legacy NPAs and lumpy exposures continue to cloud the outlook. View More

IREDA’s net profit surged to ?584.9 crore in Q3 FY25-26, up from ?425.4 crore in the same quarter last year View More