Author: News Desk

To acquire money through an initial public offering, Mankind Pharma has submitted its draft red herring prospectus (DRHP) papers to market regulator Securities and Exchange Board of India (SEBI). The promoters and current shareholders of the company will offer for sale (OFS) 4 crore (40,058,844) equity shares as part of the IPO. Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust, and Prem Sheetal Family Trust are the company’s promoters. The IPO is anticipated to be worth around $5,500 crore, which would make it one of the largest public offerings by a domestic pharmaceutical company…

Yoga Guru Baba Ramdev announced plans to float four new Patanjali companies on Indian bourses over a five-year period. The Patanjali patron announced plans for four new Patanjali IPOs (initial public offerings) from Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness, and Patanjali Lifestyle during a press conference in India’s capital city. The Yoga Guru stated that the Patanjali Group’s current turnover is 40,000 crore and that it aims to increase to 1 lakh crore in the following five years while making these remarks. The Yoga Guru gave a hint as to which Patanjali IPO might occur first when he stated that…

As Volkswagen’s supervisory board is prepping for the IPO of its Porsche brand, reports say that the IPO will consist of 911 million shares. The 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares. And, only the preferred shares will be listed. According to sources, a stock exchange prospectus will be published on Monday. After the announcement, institutional and private investors can subscribe to Porsche shares. Volkswagen and Porsche have not confirmed it. Porsche’s valuation is expected to be between 70 billion and 80 billion euros. However, there is no certainty…

Germany is planning to change its immigration law. The country foresees a shortage of about 2,40,000 skilled workers by 2026. To avoid that, the EU nation is simplifying its immigration system. The plan is to attract more foreign skilled workers. As part of the new rule, Germany would offer dual citizenship and special citizenship status. This will be valid for three to five years. The nation looks forward to having both academic and vocational skills.

Adobe Inc. will acquire online design firm Figma for roughly $20 billion in order to broaden its line-up of platforms that are focused on collaboration and designed for the hybrid work era. The maker of the most well-known graphics and photo editing programmes in the market, including Photoshop and After Effects, Adobe, has been making more and more forays into the collaboration tool market. The cash-and-stock acquisition of Figma gives Adobe ownership of a business whose online platform for ideation and collaboration in design is utilized by companies like Zoom Video Communications, AirBnB, and Coinbase.

“Vedanta is committed to invest in Maharashtra” Tweeted Chairman Anil Agarwal. There was a political uproar over Gujarat receiving $20-bn investment. The Vedanta -Foxconn semiconductor plant would be installed in Gujarat. The Opposition in Maharashtra blamed the government for losing the project. However, Agarwal said that Gujarat met expectations. The decision was taken a few months ago. “We will soon create a hub in Maharashtra,” he assured.

Several Global organisations to participate in Dubai Metaverse Assembly. Some are World Economic Forum, Meta, Mastercard, Emirates Airline, and Accenture. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum launched the event. It will take place from September 28 to 29 at the Museum of the Future. The event expects more than 300 global experts and 40 specialized organisations. It denotes the UAE government’s willingness to harness the possibilities of Metaverse. The aim is to shape the future of the metaverse. It will serve as a global platform for discussions and collaboration.

Dandera Ventures has launched OTUAOTUA is a three-wheeler cargo EVIt claims to have up to 300 km rangeIt has a carrying volume of 183 CCOTUA was first showcased in the reality show Shark TankIt received an investment from Ashneer GroverOTUA’s starting price is Rs3.5 lakhA perfect option for logistics companies and last-mile deliveriesIt is currently available for pre-bookingOTUA will be available in Delhi NCR, Maharashtra, and Gujarat

Have you ever dreamed of turning your cycle into an electric bike? Dhruv Vidyut Electric Conversion Kit (DVECK) does exactly thatIt can turn any bicycle into a battery-powered and motorised vehicleGursaurabh Singh is the creator of this technologyThe technology offers a top speed of 25kmphIts payload capacity is 170 kilogramsIt has resistance to extreme weather and geographic conditions Anand Mahindra has tweeted Gursaurabh’s storyHe also expressed his desire to invest in the venture

Defence Public Sector Undertakings (PSUs) to hold roadshows in Dubai and Abu Dhabi.Participants are Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL),Garden Reach Shipbuilders & Engineers (GRSE), and Mishra Dhatu Nigam (MIDHANI.They have informed stock exchanges about their investor outreach programmes.They will hold meetings with prospective investors from September 12-15.They will share short and medium-term growth plans, financial metrics and other details.It is an attempt by the government to put PSUs on a par with their private sector counterparts.