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The primary market anticipates a busy week with five mainboard and six SME IPOs. NSE's substantial IPO will lead primary market activity, opening on September 17. Several other mainboard offerings and SME IPOs will also open for subscription this week. Ten mainboard companies and four SME firms are scheduled for their stock market debuts. This period marks the highest IPO value since October 2025. View More

Mumbai: The truncated trading week ahead is set to be another busy one for the primary market, with five mainboard and six SME initial public offerings (IPOs) worth around ₹24,500 crore scheduled to open for subscription. NSE 's ₹22,561.5-crore IPO will dominate the week's primary market activity, accounting for more than 90% of the value of issues opening for subscription. The issue opens on September 17 and closes on September 21. Markets will remain shut on Monday, September 14, for Ganesh Chaturthi . ET Bureau The ₹24,500 crore worth of IPOs opening for subscription during September 14-18 would be the highest since October 2025, when issues worth around ₹29,000 crore hit the market during the week of October 6-10. Read more: Inside NSE IPO journey: Why India's largest exchange took 10 long years to reach Dalal Street Live Events Among other mainboard offerings, Hero Motors, SS Retail and Jindal Supreme India will open on September 16 and close on September 18. Hero Motors will raise around ₹1,000 crore, while SS Retail and Jindal Supreme India will raise ₹500 crore and ₹125 crore, respectively. Two mainboard IPOs-Veegaland Developers and Manika Plastech- that opened last week will close during the week. Six SME IPOs that opened last week will also close during the week. Read more: Nifty may rebound to 23,800; Rupak De picks Apollo, Laurus Labs and Eternal for the week Stock Market Debutants The week will also see a flurry of listings, with 10 mainboard companies set to make their stock market debuts. Pranav Construction will list on September 15, followed by Glass Wall Systems India, Prasol Chemicals and Kanohar Electricals on September 16. Six companies - Asset Reconstruction Co India, Manipal Payment & Identity Solutions, Steamhouse India, LCC Projects, Karamtara Engineering and Rentomojo - will list on September 17. Four SME companies are also scheduled to list during the week. Apana Logistics will make its debut on September 15, while Infrax Renewable, Vinod Texworld and Amtech Esters will list on September 17. .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)

Brookfield is negotiating to acquire PGP Glass from Blackstone for $1.3 billion. This deal marks a significant transaction between two major alternative asset managers in India. Blackstone aims to exit its six-year investment in the glass packaging company. A binding agreement is anticipated within the next two to three weeks. PGP Glass specializes in packaging for cosmetics, spirits, and pharmaceuticals. View More

Brookfield is in advance negotiations with Blackstone to acquire PGP Glass , for $1.3- $1.5 billion, a potential transaction that is set to involve two of the largest alternative asset managers for the first time in India , said multiple people in the know. A trade will help Blackstone, the world’s largest private equity buyout group, successfully exit their 6-year old investment. A binding agreement is expected in the next 2-3 weeks, the people mentioned above added. Blackstone, the world’s largest private equity buyout group, acquired the company in 2020 from billionaire Ajay Piramal for $765 million and has been exploring ways to sell the company since early 2024. As recently as this February, ET had mandated Axis Capital , Bank of America and HSBC as lead bankers for a proposed $400-500 million initial public offering (IPO) of the company in India, formerly Piramal Glass, ET had reported. ET Bureau In parallel, it had mandated Jefferies to explore a sale of the business, which specialises in the design, production and decoration of glass packaging for industries including cosmetics and perfumery, food and specialty spirits, and pharmaceuticals. PE suitors like Bain Capital had also submitted a non-binding offer but it was not accepted due to significant valuation differences. Also Read: Brookfield's ₹2500 crore Bikaner renewable energy portfolio acquisition: Inox Clean Energy, Purvah Green Power lead race Live Events Incidentally, Brookfield had made a formal bid during the last sale process, but talks between the two fell through at an advanced stage, only to revive a few months back. For Blackstone, according to sources, monetizing this investment – from its first Asia fund – has become crucial before it could start deploying from its third fund. Blackstone Capital Partners (BCP) Asia III closed at a record $13.1 billion in June 2026, marking Blackstone’s largest-ever private equity fundraise for the Asia-Pacific. In the interim, they also explored multiple options such as a continuation vehicle for PGP, but those efforts did not fructify. Blackstone and Brookfield declined to comment. Multiple Attempts In the past, Blackstone sought a $2 billion valuation for the business, which most believe is now difficult, considering the flux in energy prices. Industry observers said rising energy prices on the back of the ongoing Iran-US war in the Middle East, have impacted its business. Oil prices rose more than 8% week-on-week as attacks on tankers and energy facilities in the Middle East raised concerns over extended supply disruptions. International benchmark Brent crude futures for November delivery traded at $104.09 per barrel on Friday, up 8.1% from last Friday’s close of $96.28. Sources close to Blackstone, however, insisted that despite the war business has been resilient with profits for FY26 up 20%. The company founded as Gujarat Gas Ltd. was renamed Piramal Glass in 2008 after Piramal Group acquired it. It was delisted from Indian exchanges in 2014. PGP Glass has operations in India and Sri Lanka with an overall capacity of 1,720 tonnes per day, 12 furnaces and 70 production lines. It has offices and warehousing facilities in France, Germany, Turkey, Spain, Brazil, India, the UAE, UK, and Sri Lanka. PGP Glass serves customers in over 50 countries around the world, according to the company website. About 77% of its sales come from high end cosmetics and specialty spirits. In fiscal 2025, the company’s consolidated total income grew by 4.4% year-over-year to Rs 4,278 crore, while its EBITDA reached Rs 1,430.2 crore -- a 5.1% increase from the previous year. According to the company’s management, the EBITDA margin was sustained at 33% plus level supported by various operational and manufacturing excellence initiatives. The net profit for the year was Rs 384.2 crore. Diversified Play Perfumery (C&P) division remained a cornerstone of the business, the company said in its FY25 annual report contributing 37.5% of total revenue. The pharmaceutical segment retained its market leadership, particularly in India. Additionally, the specialty, food & beverages segment was the best-performing division, growing by 6.5% year-on-year and contributing 41% of total revenue, growth was led by a significant surge in food packaging. Even though the specialty liquor category remained sluggish, it was the largest contributor within the segment. “Brookfield is best suited for a business as large and complex as PGP. It has extensive experience in packaging sector and thrives on business turnarounds,” said an India investment banking head of a leading European financial group on condition of anonymity as the talks are in private domain. Its private equity has deep experience backing industrials and manufacturing companies. In December 2025, it acquired Fosber, an Italy-based maker of high-speed corrugating machinery and technology for the corrugated packaging industry, in a carve-out deal from Guangdong Dongfang Precision valued at approximately $900 million. Previous industrial investments include Chemelex, a global leader in electric heat tracing systems, Clarios, the global leader in advanced low-voltage batteries, and GrafTech, a global manufacturer of graphite electrodes. Between 2018-2025, it also acquired a 75% controlling interest in returnable plastic packaging manufacturer Schoeller Allibert. Then in 2025, Brookfield and Schoeller Allibert agreed to merge with rigid-plastic packaging producer IPL, creating an international sustainable packaging business with revenue exceeding $1.4 billion. In India too, it invested Rs 2000 crore in the carved out packaging films division (JPFL Films Pvt Ltd) of India's Jindal Poly Films for roughly Rs 2,000 crore. .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 Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

A Park City mountain land bought for six million dollars became a thirty-seven million dollar luxury home. This sale set the highest residential price ever recorded within the city limits. The seventeen thousand square foot mansion was completed after four years of construction. It features extensive ski-in, ski-out facilities and high-end amenities for wealthy buyers. Limited supply and high demand continue to boost Utah mountain luxury housing markets. View More

Assam, Arunachal Pradesh, Bihar, Tamil Nadu, Sikkim, West Bengal and more — Check full list of states that have announced DA hikes so far, besides payment of DA arrears for employees and pensioners. View More

HDFC Bank share price have declined 0.54% over the past week and 2.85% in the last month, indicating continued weakness in the near term. View More

The Centre’s latest land-records push moves beyond digitization to integrate ownership records, maps, registrations and revenue courts into a single digital ecosystem. View More

SML Ltd, a leading agri-inputs manufacturer, is contemplating a stock market listing in the next two to three years. With significant cash reserves, the company plans to invest in developing new chemical entities and proprietary molecules. While external factors have led to a reduction in their revenue targets for the fiscal year, SML Ltd is also diversifying its offerings into crop nutrition and biological protection. View More

Agri-inputs maker SML Ltd, formerly known as Sulphur India Limited, is evaluating a stock market listing within the next two to three years as it looks to fund the development of new chemical entities (NCEs), Managing Director Bimal Shah said. "We have not completely decided - we are also evaluating it," Shah said in an interview to PTI, adding that the debt-free company expects greater clarity on the timeline within the next one to two years. Mumbai-based SML Ltd said it is among a handful of Indian companies developing NCEs - proprietary new molecules rather than generic formulations - with one new molecule expected to reach the market soon and others in the pipeline. "We are working on NCEs, new chemical entity in the last three years. We have a new molecule coming up very soon. ... NCE is a very important focus for us. Of course, this requires a lot of investment," he said. Bringing a single NCE to market can cost USD 70 million-USD 80 million, Shah said, and the company has so far self-financed the research. Live Events These considerations may eventually lead the company toward listing, but no decision has been made yet; it's still evaluating, Shah said, adding that he expects to have a "clearer sense of direction this year or next", since further steps will depend on related groundwork being completed. CASH PILE, ACQUISITION TARGETS SML Ltd holds roughly Rs 450-470 crore in cash on a near debt-free balance sheet; funds, Shah said, could be deployed toward acquisitions, regulatory assets or strategic tie-ups, alongside the NCE program. The company pointed to its earlier increase in ownership of Rotam India, an active ingredient manufacturing facility, as an example of the kind of backwards-integration deal it could pursue again. "We've maintained a stable balance sheet over the years, and this accumulated fund is intended for the right opportunity - potentially an acquisition, strategic tie-up, or backward integration," he said. The listing deliberations come as SML pushes deeper into three business lines beyond its traditional sulphur fertilizer base: crop nutrition, crop protection and biologicals. Shah said crop nutrition, where the company is promoting balanced, nutrient-efficient formulations rather than single-nutrient products, is likely to be the fastest-growing of the three over the next three years, both in India and globally. REVENUE OUTLOOK TRIMMED SML has lowered its revenue target for the current fiscal year to about Rs 1,600 crore, from an earlier goal of Rs 1,800 crore, citing weaker monsoon rainfall, US tariffs and shipping disruptions tied to ongoing geopolitical conflict. That would still mark an increase from roughly Rs 1,200-1,300 crore a year earlier, aided by price increases of 15-20 per cent across its product range. International business, spanning more than 80 countries, generated roughly Rs 600-700 crore last fiscal year; SML is targeting Rs 700-800 crore this year and Rs 1,000 crore within two years, though it flagged continued tariff and shipping-related uncertainty. Roughly 70 per cent of SML's export revenue comes from crop-protection products, including insecticides and fungicides using microencapsulation and water-dispersible granule technologies, the executive said. BRAND PUSH SML Ltd separately unveiled cricket icon Sachin Tendulkar as its brand ambassador this year, betting his national profile can accelerate farmer adoption of its sulphur-based fertilizers. The company estimates only a small fraction of India's farmland currently receives adequate sulphur nutrition, despite government soil surveys showing widespread deficiency. "We are trying to connect nutrition, sports and agriculture together," Shah said, adding that Tendulkar had sought out the partnership after noting he had never worked with an agriculture-focused company before. The company recently launched seven new products across crop protection and crop nutrition. Shah said crop protection products converts to sales faster since it operates on an AI-to-AI (active ingredient) basis. "We expect at least an additional Rs 100 crore this year from these new products/technologies, with crop nutrition potentially contributing even more depending on market reach and consumption growth." SUPPLY GAP India's fertilizer industry has increasingly flagged sulphur deficiency as a hidden constraint on crop yields, with government soil-health surveys showing widespread shortfalls nationally. SML Ltd said the company has 30-40 per cent market share in India's roughly 150,000-200,000 tonne specialty sulphur-fertilizer segment, a share it aims to lift to 50-60 per cent by 2030 through expanded field demonstrations and dealer outreach. The company, which competes with larger rivals including Coromandel International and Deepak Fertilizers , said its patented micronized sulphur and sulphur-zinc formulations carry a higher per-unit cost than conventional sources such as gypsum and ammonium sulphate but require substantially lower application rates. Capacity utilization at SML's production facilities stands at roughly 50-55 per cent, Shah said, with full utilization expected by 2028-29. The company plans to move some of its research capacity toward new agri-inputs beyond sulphur, including biological crop-protection products. Founded in 1971, SML Ltd has evolved over five decades from its strong foundation in sulphur-based crop inputs into a research-driven, innovation-led global agri-solutions enterprise. .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! 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In the US, hotter-than-expected consumer inflation and the biggest monthly increase in producer prices since May bolstered the case for a Federal Reserve rate hike next week. View More

Inflation pressures intensified across the global economy this week as surging energy costs from the Iran war continued to feed through to consumer and producer prices , raising the risk of slower growth and tighter monetary policy. In the US, hotter-than-expected consumer inflation and the biggest monthly increase in producer prices since May bolstered the case for a Federal Reserve rate hike next week. The energy shock helped revive inflation in China, kept Taiwan’s CPI above its central bank’s alert level and left policymakers with less room to cushion households and businesses. Growth signals were mixed in Europe, where Britain’s gross domestic product again beat forecasts even as German industrial production slumped. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics: Europe Bloomberg Britain saw another month of strong growth in July, amid signs that artificial intelligence companies were starting to lift the economy. The figures marked the third month in a row that growth has outperformed economists’ predictions, a hint that the UK could defy expectations for a sharp slowdown in the second half of 2026. Live Events Bloomberg German industrial production declined the most in almost a year, marking an unexpected setback to the recovery of Europe’s biggest economy. Output fell 1.1% in July, compared with a 0.2% gain predicted by economists in a Bloomberg survey. The drop was mainly due to reduced production in the automotive industry. US Bloomberg US consumer prices , excluding food and energy, rose by more than expected last month. The CPI suggests inflation made little progress toward the Fed’s goal last month amid ongoing pressures from the Iran war, tariffs and the data center buildout. Federal funds futures show investors priced in a rate hike next week as a near certainty following the release, and put a high likelihood on a second increase before the end of the year. Bloomberg Treasury Secretary Scott Bessent keeps warning investors that they’re making a big mistake because he’s on the other side of the trade, armed with valuable information on government policy plans they don’t possess. But bond market investors are starting to bet against him. After Bessent rolled out an amped-up bond buyback Wednesday in a bid to push down benchmark 10-year Treasury yields, they shot up instead, extending a selloff that pushed them to a fresh three-year high of more than 4.9%. Bloomberg A measure of producer price inflation showed renewed pressure from rising energy prices last month. The producer price index rose 0.4% in August from the prior month — the most since May — and 5.4% from a year earlier. Energy and transportation and warehousing costs surged after two months of declines, while several components that feed into the Fed’s preferred inflation gauge also posted strong advances. Asia Bloomberg Asia’s economies face a fresh test of resilience after oil crossed the $100 threshold again, with inflation running hot and fiscal and monetary policy already tight. The region relies heavily on imported energy, while gains in diesel and gasoline prices have outpaced crude, threatening to add to inflationary pressures and weigh on growth. Policymakers will face pressure to keep cushioning households and businesses, but their space to maneuver is much narrower than before. Bloomberg China’s consumer inflation accelerated for the first time since April and factory-gate prices grew faster than expected, as more expensive food and energy revived cost pressures. Energy prices contributed 0.28 percentage point to the headline year-on-year gain for consumer inflation. Some food costs are also starting to pick up because of seasonal factors and weather conditions, with prices for fresh vegetables, eggs and pork rising in monthly terms. Bloomberg Taiwan’s consumer inflation just topped the central bank’s alert level, a figure that may give it room to continue holding rates. The consumer price index rose 2.04% in August versus a year earlier. CPI was above the central bank’s 2% alert level for the fourth straight month, the longest stretch in two years. An official at the statistics bureau said higher prices were mainly focused on areas such as dining out and energy — an indication of the impact the Iran war is having on Taiwan’s economy even though the government is subsidizing state energy companies. Emerging Markets Bloomberg Mexico’s annual inflation rate rose less than forecast in August, providing central bankers scant respite but unlikely to alter their near-term plans to hold interest rates steady. Bloomberg Chile’s central bank cut its forecast for economic growth this year for the third time, just hours after the institution held its interest rate steady and warned a period of malaise may continue for longer than expected. The economy will expand between just 0.25% and 0.75% in 2026, down from the prior forecast of 1% to 1.75%, according to the central bank’s quarterly monetary policy report. World Bloomberg Shipping nations are sounding the alarm over growing fragmentation in global trade as conflicts and trade tensions disrupt maritime supply chains. The turmoil has contributed to renewed volatility in shipping costs, with China-to-US container rates climbing to their highest since 2024. In addition to the ECB and Chilean decisions, central bankers in Poland, Georgia, Serbia, Turkey, Peru, and Russia kept interest rates unchanged. Denmark followed the ECB with a hike to defend the krone’s peg to the euro. .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!

The projects approved in Barabanki, Lucknow, Varanasi, Ghaziabad, Gautam Buddh Nagar and Agra will lead to the construction of 4,724 residential and commercial units, according to a statement issued by RERA. View More

Reality TV star and fashion mogul Kylie Jenner has sold her 13,200-square-foot Hidden Hills mansion for $15.3 million after listing it for $20.25 million. She purchased the sprawling California property for $12.05 million in 2016, aged 19. The lavish 1.4-acre estate features eight bedrooms, eight bathrooms, a pool, spa, home theatre and multiple entertainment spaces. View More