Business

Smartworks Coworking Spaces Ltd is set to launch its initial public offering (IPO) from July 10 to July 14, with anchor investor bidding commencing on July 9. The company has scaled down its IPO size to Rs. 445 crore from the earlier Rs. 550 crore, including a reduced offer-for-sale by promoters. Proceeds will primarily fund capital expenditure on new centres, loan repayment, and general corporate purposes.

Adani Enterprises Ltd. is making a calculated leap into India’s petrochemical arena with the construction of a 1 million tonne-per-annum (TPA) PVC manufacturing plant in Mundra, Gujarat. This marks the conglomerate’s strategic entry into polymer production—a domain long dominated by Reliance Industries. With domestic PVC demand far exceeding current capacity, the project aims to bridge the supply gap, reduce import dependency, and establish Adani as a formidable player in the chemical manufacturing sector.

Sattva Group, a Bengaluru-based real estate powerhouse, plans to invest approximately Rs 800 crore in Goa’s property market over the next two years. This substantial capital deployment aims to leverage Goa’s enhanced infrastructure, growing connectivity, and surging demand from NRIs and domestic buyers for both primary residences and second homes. Building on the successful launch of the second phase of its flagship ‘Sattva Water’s Edge’ project near Dabolim airport, the company is preparing to initiate additional residential projects, including a gated community.

Transrail Lighting, a prominent engineering, procurement, and construction (EPC) player in India’s power transmission and distribution landscape, is aggressively scaling operations with the goal of capturing an 8–10% share of Power Grid Corporation of India’s FY26 project allocations. The company is capitalizing on robust infrastructure investment, an expanding international footprint across 59 countries, and a strong unexecuted order book exceeding Rs. 15,900 crore.

Safex Chemicals (India) Ltd., a prominent player in India’s specialty chemicals and agrochemical industry, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), seeking approval for an initial public offering (IPO). The IPO comprises a fresh issue of shares worth Rs. 450 crore and an offer for sale (OFS) of 35.73 million equity shares by promoters and investors. The funds will primarily be allocated toward debt reduction and general corporate purposes.

Reliance Retail Ventures Ltd (RRVL) has strategically acquired a minority stake in UK-based FACEGYM, signaling its foray into the burgeoning facial fitness and skincare sector in India. This partnership seeks to blend FACEGYM’s innovative non-invasive facial workouts with Reliance’s omnichannel beauty platform, Tira, to create standalone studios and curated retail spaces in key Indian metros over the next five years.

In response to the State Bank of India’s recent classification of Reliance Communications’ (RCom) loan account as “fraud,” two other Anil Dhirubhai Ambani Group (ADAG) companies—Reliance Infrastructure and Reliance Power—have issued formal statements distancing themselves from the development. The companies emphasized that they are independent, publicly listed entities with no financial or operational ties to RCom, nor to its erstwhile director Anil Ambani.

Muthoot FinCorp Ltd, a leading gold loan financier, announced a Rs 290 crore fund-raising initiative through secured and redeemable non-convertible debentures (NCDs). The tranche VI NCD issue, open for subscription until July 17, 2025, offers flexible tenure options ranging from 24 to 72 months and various interest payout modes, with effective yields between 9.2% and 9.8% per annum.

State-owned mining company MOIL Ltd. has posted its highest-ever quarterly manganese ore production, reaching 5.02 lakh tonnes during the April–June period of FY2025, marking a 7% year-on-year increase. June alone saw output touch a new monthly high of 1.68 lakh tonnes, reflecting a 2% uptick over the same month last year.

Marico Ltd., one of India’s leading FMCG companies, expects modest growth in operating profit for the June 2025 quarter due to sustained inflation in key raw materials like copra and a high base from the previous year. Despite pressure on gross margins, the company continues to invest in brand equity, new product categories, and international markets. Encouraging signs of rural recovery, steady urban demand, and solid volume growth across core brands such as Saffola and Value-Added Hair Oils have led to a consolidated revenue growth in the low twenties.