SEBI Extends NSDL’s ₹3,000 Crore IPO Launch Deadline till July 31

The Securities and Exchange Board of India (SEBI) has granted an extension to the National Securities Depository Ltd (NSDL) to launch its highly anticipated initial public offering (IPO) by the end of July 2025. The extension follows the original deadline set for this month, ensuring the successful rollout of one of the most awaited IPOs of the year.

Key Details of the NSDL IPO

NSDL’s ₹3,000 crore IPO is structured entirely as an Offer for Sale (OFS), involving the sale of 5.72 crore shares by 6 existing shareholders. Among them, major stakeholders such as the National Stock Exchange (NSE), IDBI Bank, HDFC Bank, Union Bank of India, State Bank of India, Government of India, through the SUUTI plan, to diluting their holdings. Currently, NSE holds a 24% stake in NSDL.

The company had filed its draft prospectus with SEBI in 2023 and received approval earlier this year.

NSDL’s shareholding as of January 31, 2025, comprises IDBI Bank (26.10%), NSE (24%), HDFC Bank (7.95%), SUUTI (6.83%), SBI (5%), and Union Bank of India (2.81%).

Following the IPO, NSDL’s shares will be listed on the Bombay Stock Exchange (BSE), with a portion of equity shares reserved for eligible employees. This offering is expected to generate significant interest from investors, given NSDL’s dominant position in India’s financial ecosystem.

NSDL’s Market Position and Services

As one of the largest central securities depositories globally, NSDL plays a pivotal role in India’s capital markets. It provides comprehensive services to investors, stockbrokers, custodians, and issuer companies. Its core offerings include opening and maintaining demat accounts, dematerialisation of securities, share transfers, and managing non-cash corporate benefits.

As of February 2025, NSDL manages over 3.91 crore active client accounts and holds an impressive market share of over 80% in terms of the total value of dematerialised assets in India. The company’s robust infrastructure supports advanced settlement cycles like T+1, contributing to enhanced market efficiency.

Conclusion

With SEBI’s extension, NSDL now has additional time to launch its much-awaited IPO, expected to attract strong investor interest. Given its dominant market presence and critical role in India’s financial landscape, the IPO is poised to be a landmark event in the country’s capital markets.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Zaggle Prepaid Ocean Services Signs Agreement with Truecaller International

In a significant business move, Zaggle Prepaid Ocean Services Limited (Zaggle) has entered into an agreement with Truecaller International LLP. This collaboration aims to enhance employee expense management and benefits through Zaggle Save, a specialised service tailored for corporate financial solutions.

The partnership is expected to streamline expense management for employees, reinforcing Zaggle’s position in the fintech space.

Details of the Agreement

Under the terms of the agreement, Zaggle will provide its expense management and benefits solution, Zaggle Save, to Truecaller International LLP. The agreement is structured as a Master Services Agreement and will be effective for a duration of 1 year.

This deal underscores Zaggle’s continued commitment to delivering efficient financial solutions to businesses operating in India.

The contract is a domestic engagement, confirming that the collaboration remains within the Indian business ecosystem. Additionally, the agreement does not involve any related party transactions or promoter interests, ensuring transparency and compliance with SEBI regulations.

Impact on Financial Technology and Corporate Solutions

The partnership between Zaggle and Truecaller International LLP is a testament to the growing importance of digital financial management in corporate settings.

Zaggle Save aims to simplify expense tracking, reimbursement processes, and employee benefits management, thereby increasing financial efficiency for organisations.

As financial technology continues to evolve, such collaborations play a crucial role in offering businesses automated and user-friendly solutions. This agreement could set a precedent for similar partnerships in the industry, encouraging companies to adopt digital financial management tools for enhanced productivity and compliance.

Conclusion

Zaggle’s partnership with Truecaller International LLP marks a strategic step towards revolutionising corporate financial management. By providing an advanced expense management solution, the agreement is expected to bring operational efficiency and ease of financial transactions for Truecaller employees. With a one-year commitment in place, this collaboration could pave the way for further fintech advancements in the corporate sector.

Zaggle Prepaid Ocean Services Share Performance 

As of April 02 2025, at 10:30 AM, Zaggle Prepaid Ocean Services share price was trading at ₹359.00, reflecting a surge of 1.40% from its previous closing price. Over the past month, it has surged by 3.43%.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

SJVN Arm Achieves Trial Run Completion for 241.77 MW Bikaner Solar Project Phase I

SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Ltd, has completed the trial run of 241.77 megawatts (MW) capacity in Phase I of the Bikaner Solar Power Project. The trial run was concluded on March 31, 2025.

Commercial Operations to Begin on April 2

The 241.77 MW capacity is now operational and is scheduled to begin commercial operations on April 2, 2025. This is part of the larger 1,000 MW solar project being developed in Bikaner, Rajasthan.

The complete 1,000 MW capacity is expected to be commissioned by September 30, 2025, as per the filing. Once commissioned, SGEL will supply solar power to Rajasthan, Jammu & Kashmir, and Uttarakhand.

Recent Developments

In March 2025, SJVN signed a memorandum of understanding with the Chhattisgarh government to develop a 1,800 MW pumped storage project at Kotpali. The investment for the project is estimated at ₹9,500 crore.

The Bikaner Solar Power Project also contributes to India’s national goal of achieving 500 GW of non-fossil fuel capacity by 2030. As per the filing, it is also aligned with SJVN’s internal targets of reaching 25,000 MW by 2030 and 50,000 MW by 2040.

Stock Performance

As of 9:45 AM on April 2, 2025, SJVN share price was trading at ₹91.45. The stock has declined 27.2% over the past 12 months and is down 12.57% year-to-date.

Conclusion

With the trial run complete and commercial operations beginning soon, SGEL is on track to meet the September 2025 deadline for full project commissioning under its 1,000 MW solar initiative.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Jain Resource Recycling Files DRHP to Raise ₹2,000 Crore Via IPO

Jain Resource Recycling Ltd. has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise up to ₹2,000 crore through an Initial Public Offering (IPO). The IPO will consist of a fresh issue of ₹500 crore and an Offer for Sale (OFS) of ₹1,500 crore from existing shareholders. The face value of each share is ₹2, with 10% reserved for retail investors.

Kamlesh Jain, the company’s promoter, will offer ₹1,430 crore worth of shares, while Mayank Pareek will sell shares worth ₹70 crore.

Use of IPO Proceeds

The funds raised from the fresh issue will be primarily used to repay or prepay some of the company’s borrowings. Any remaining proceeds will be used for general corporate purposes, including strengthening operational capabilities and supporting growth initiatives.

IPO Management 

The IPO will be managed by DAM Capital Advisors, ICICI Securities, Motilal Oswal Investment Advisors, and PL Capital Markets. KFin Technologies will act as the registrar. The company has a clientele that includes names such as Vedanta, Mitsubishi Corporation, and Nissan Trading Company.

Business and Products

Jain Resource Recycling is into recycling non-ferrous metal scrap, producing products like lead and lead alloy ingots, copper and copper ingots, aluminum and aluminum alloys, and refined gold. The company has a plan to expand its operations, particularly in gold refining, and diversify into heavy minerals.

Financial Overview

For the financial year 2023-24, Jain Resource Recycling reported a revenue of ₹4,485 crore and a profit after tax (PAT) of ₹163.8 crore. In FY23, the company earned ₹3,107 crore in revenue, with a PAT of ₹91.8 crore. For the six months ending September 30, 2024, Jain Resource Recycling achieved ₹2,909 crore in revenue and ₹112.2 crore in PAT. As of September 2024, the company’s net worth was ₹481.8 crore, with total borrowings amounting to ₹969.7 crore.

Conclusion

The Jain Resource Recycling IPO presents an opportunity to tap into the non-ferrous metal recycling sector, with the company focusing on debt reduction and expansion plans.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Glenmark Pharma US Unit Introduces Generic Vancomycin Injection in the US Market

Glenmark Pharmaceuticals Inc., the U.S. subsidiary of Glenmark Pharmaceuticals Ltd., has announced the launch of Vancomycin Hydrochloride for Injection USP. The drug is being introduced in three single-dose vial strengths: 750 mg, 1.25 g, and 1.5 g single-dose vials. It is intended for intravenous administration and is used in the treatment of systemic bacterial infections.

As of 10:49 AM on April 2, 2025, Glenmark Pharmaceuticals share price is trading at ₹1526.10, a 1.12% increase for the day, up 14.61% over the past month, but down 8.47% over the past six months.

Bioequivalence and Reference Drug

The launched version is bioequivalent and therapeutically equivalent to the reference listed drug (RLD) Vancomycin Hydrochloride for Injection USP, 750 mg/vial, 1.25 g/vial, and 1.5 g/vial, developed by Mylan Laboratories Limited under NDA 209481. Glenmark’s product is approved only for the indications listed on its approved label.

Sales Data

According to data mentioned in reports, for the 12-month period ending January 2025, the total market for Vancomycin Hydrochloride for Injection (across the three strengths and all available therapeutic equivalents) recorded sales of approximately $39.3 million, or ₹336.47 crore​.

Availability in the US Market

The product will be marketed across the United States and is now part of Glenmark’s institutional portfolio. It is manufactured in compliance with U.S. FDA regulations and is available for use in hospital and clinical settings.

Marc Kikuchi, President & Business Head, North America, said, “We are excited to announce the launch of Vancomycin Hydrochloride for Injection USP, 750 mg/vial, 1.25 g/vial and 1.5 g/vial (Single-dose vial), adding another quality product to our institutional portfolio.”

Company Overview

Glenmark Pharmaceuticals Ltd is a research-led pharmaceutical company headquartered in Mumbai, India. The company operates across branded, generics, and over-the-counter (OTC) segments, with a presence in more than 80 countries. Glenmark runs 11 manufacturing facilities across four continents. 

Conclusion

The launch of Vancomycin Hydrochloride for Injection by Glenmark Pharmaceuticals Inc., USA expands the availability of generic alternatives within the U.S. institutional market. By introducing therapeutically equivalent dosage forms to an established product, the company enters a segment with existing demand and measurable annual sales.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

HDFC Mutual Fund Files Draft for CRISIL-IBX Financial Services 3-6 Months Debt Index Fund

HDFC Mutual Fund has filed a draft Scheme Information Document (SID) for a new debt-oriented index fund: the HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund. This is an open-ended index fund that will track the CRISIL-IBX Financial Services 3-6 Months Debt Index, focusing on short-term debt instruments in the financial services sector.

Features

    • Fund Category: Index Fund (Debt)
    • Type: Open-ended
    • NAV Disclosure: Daily, updated by 11:00 PM
    • Exit Load: None
    • Minimum Investment: ₹100 and any amount thereafter
    • Plans Available: Regular and Direct, with Growth Option only
    • Benchmark Risk-o-Meter: Low interest rate risk and low credit risk
    • Fund Manager: Anupam Joshi
    • NFO: ₹10 Per Unit (This is the price per unit that the investors have to pay to invest during the NFO).

Fund Objective and Benchmark

The fund aims to generate returns that are in line with the performance of its benchmark index, before expenses. The CRISIL-IBX Financial Services 3-6 Months Debt Index serves as the benchmark. It consists of debt instruments issued by entities in the financial sector, with residual maturities between three to six months.

Asset Allocation

The scheme will allocate:

  • 95% to 100% in securities forming part of the underlying index
  • Up to 5% in money market instruments or units of debt mutual fund schemes for liquidity purposes

No investments will be made in derivatives, overseas securities, structured obligations, or securities with special features like credit enhancements or subordination.

Portfolio Strategy

The fund will follow a passive approach, attempting to replicate the benchmark index. It must rebalance the portfolio within 7 calendar days in case of index changes or credit downgrades. The annualised tracking difference is targeted to stay within 1.25% of the benchmark.

Conclusion

This is a new scheme, and therefore, does not have any historical performance record. Further details will be available once the New Fund Offer (NFO) dates are announced.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

RBI Announces Fresh Open Market Operations of ₹80,000 Crore to Boost Liquidity

The Reserve Bank of India (RBI) has announced fresh purchase auctions of government securities under its open market operations (OMO) to further stabilise liquidity in the banking system. The central bank will conduct these auctions in multiple phases, ensuring a systematic infusion of funds to support economic stability.

Scheduled OMO Auctions for April

The RBI will conduct fresh government securities purchase auctions amounting to ₹80,000 crore. These will take place in four tranches of ₹20,000 crore each on April 3, April 8, April 22, and April 29. The central bank has emphasised that it will continue monitoring liquidity and market conditions to ensure an orderly financial environment.

This move follows similar liquidity injections in March when the RBI conducted OMO purchases worth ₹1 lakh crore in two tranches of ₹50,000 crore each. Additionally, the central bank executed a dollar-rupee buy/sell swap auction of $10 billion for 36 months to further manage liquidity.

Banking Liquidity and Future Projections

FY25 concluded with a banking liquidity surplus of ₹894 billion, marking a significant shift from the previous week’s deficit of ₹2.4 trillion, with an average deficit of ₹1.3 trillion. This improvement is attributed to a substantial RBI liquidity infusion of ₹3.2 trillion, alongside increased government spending and recent foreign portfolio investment (FPI) inflows.

Looking ahead, Q1FY26 is projected to maintain ample liquidity, driven by an estimated ₹2.8-3 trillion RBI dividend by the end of May. The surplus is expected due to massive profits generated from foreign exchange (FX) gross sales, estimated between $360-375 billion, while the budgeted RBI surplus stands at ₹2.2 trillion.

Conclusion

The RBI’s latest move to conduct fresh OMO auctions aligns with its broader strategy to manage liquidity efficiently and support economic stability. With favourable conditions projected for Q1FY26, market participants will closely watch the central bank’s stance in its upcoming policy meeting.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

RBI Approves Shriram Finance’s 100% Stake Acquisition in SOIPL

Shriram Finance Limited has received approval from the Reserve Bank of India (RBI) to acquire a 100% equity stake in Shriram Overseas Investments Private Limited (SOIPL). The stake will be purchased from Shriram Investments Holdings Private Limited (SIHPL). The RBI’s clearance was conveyed through an official letter dated April 1, 2025, and disclosed by the company in a regulatory filing on the same day.

As of April 2 at 9:51 am, Shriram Finance share price was trading at ₹633.45, with a 6.46% dip over six months but a 29.33% gain over the past year.

Board-Level Appointments Cleared

As part of the approval, the RBI has also permitted the appointment of Umesh Revankar, Executive Vice Chairman of Shriram Finance, and Parag Sharma, Managing Director & CFO, as Directors on SOIPL’s board. These appointments are subject to conditions mentioned in the RBI’s letter.

The Board of Directors of Shriram Finance had approved the acquisition proposal earlier during a meeting held on April 26, 2024. The transaction earlier remained pending subject to regulatory clearance, which has now been granted.

Asset Growth

Shriram Finance expects to close the current financial year (FY25) with assets under management (AUM) exceeding ₹2.5 lakh crore, as per the reports. For FY26, the company projects its AUM to cross ₹3 lakh crore. According to the company’s leadership, this growth is based on an estimated 15% rise in credit demand.

Credit Growth 

The company has indicated that if India’s GDP grows at 6.5%, credit growth could reach 15% in FY26. Historically, the company notes that loan growth tends to be more than double the GDP growth rate.

Conclusion

The RBI’s approval marks the final regulatory step in Shriram Finance’s acquisition of SOIPL, along with changes in its board structure. The acquisition is now cleared to proceed, following earlier internal approvals and compliance formalities.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Emcure, Italy’s WiQo Tie Up to Launch Skin-Tightening Product in India

Emcutix Biopharmaceuticals Ltd., a wholly owned subsidiary of Emcure Pharmaceuticals, has signed an exclusive in-licensing agreement with Italy-based derma-cosmetic and medical device company WiQo. The partnership grants Emcutix the rights to import, market, distribute, and sell WiQo’s skin-tightening product, PRX-PLUS, in India.

As of 9:53 AM on April 2, Emcure Pharmaceuticals share price was trading at ₹1071.25, with a 13.03% gain over the past month and a 26.33% decline over the past six months.

Product Details

PRX-PLUS is a topical, non-invasive aesthetic solution used for skin tightening. The product does not require injections and is positioned as an alternative to traditional skin treatments. It is described as a 15-minute in-clinic procedure that offers immediate results without downtime. It is suitable for all skin types, phototypes and can be used year-round.

As per the filing, the formulation includes TCA salts and is adapted specifically for the APAC region. Since its introduction, over 8 million procedures using PRX-PLUS and related technologies have been performed globally. More than 40,000 dermatologists and aesthetic doctors worldwide use WiQo’s patented products.

Market Context

According to data from the reports, the dermatology segment in India is currently valued at approximately USD 1.8 billion. The sector has been growing at a rate of 11-12%, driven by rising awareness of skincare and increased consumer spending in the category.

Company Backgrounds

Emcutix was established in 2024 to focus on both prescription and consumer dermatology solutions in India. WiQo, founded in 1994 in Italy, specialises in non-surgical skin health devices and was acquired by ARCHIMED in 2023 to support its global expansion.

Conclusion

The agreement marks the introduction of PRX-PLUS to the Indian aesthetic dermatology market amid a period of sector growth and rising demand for non-invasive skin treatments.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

India and Chile Sign MoU to Strengthen Cooperation in Copper Mining

India and Chile have signed a Memorandum of Understanding (MoU) to work on cooperation in the mining sector, with a focus on copper and other critical minerals. The announcement was made during the India-Chile Mining Industry Round Table held in New Delhi.

Delegations from Both Nations

The Indian delegation was led by Shri G. Kishan Reddy, Minister of Coal & Mines, along with Shri V. L. Kantha Rao, Secretary, Ministry of Mines. Representatives from companies such as Coal India Limited (CIL), Hindustan Copper Limited (HCL), Hindalco, Vedanta, Adani, JSW, and JSPL were also present. The Chilean side was headed by H.E. Aurora Williams, Minister of Mines, Chile.

Discussion Areas

The roundtable, organised by the International Copper Association, India, focused on expanding cooperation in mineral exploration, sustainable mining practices, and value-added mineral processing. Discussions also covered the renewal of the existing India-Chile MoU on Geology and Mineral Resources.

Copper and Critical Minerals

India’s demand for critical minerals, including copper and lithium, has been rising due to growth in sectors like electric mobility, renewable energy, and electronics. The MoU aims to support this demand by facilitating access to these resources through bilateral collaboration.

Chile, as the world’s leading producer of copper and a major source of lithium, offers opportunities for Indian firms to invest in Greenfield and Brownfield projects, as per the reports. The agreement also opens up possibilities for joint ventures, long-term supply arrangements, and cross-border investments.

The two countries strengthened their bilateral ties at an event in Hyderabad House by signing three MoUs and an agreement. A further agreement was reached between CODELCO, a World’s biggest copper producer of Chile, and Hindustan Copper Limited of India for cooperation and information exchange.

“It will help us identify and implement joint activities, including a strategic partnership in the sphere of exploration of mining properties, meaning the mines, and mineral beneficiation through sharing of experiences and knowledge, allowing both sides to enhance their capabilities,” said P. Kumaran, Secretary (East) in the Ministry of External Affairs.

In recent years, Chile’s state-owned CODELCO, the world’s largest copper producer, has been actively pursuing market expansion in India through talks with Indian stakeholders, aiming to decrease its reliance on the Chinese market.

Technology and Supply Chain

The discussions included the potential for technology transfer and the adoption of sustainable mining practices. Strengthening the global mineral supply chain was identified as a priority for both countries.

Conclusion

The MoU between India and Chile sets the groundwork for better cooperation in mining, particularly in copper and critical minerals. It outlines shared objectives in exploration, sustainability, and securing long-term mineral resources.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.