Runwal Enterprises Files DRHP to Raise ₹1,000 Crore via IPO

Mumbai-based real estate developer Runwal Enterprises Limited has taken a major step toward listing on the stock exchanges by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company aims to raise ₹1,000 crore through a fresh issue of equity shares.

IPO Structure and Use of Proceeds

The IPO will be a fresh issue with a face value of ₹2 per share and will not include any offer-for-sale component. Runwal may also consider a pre-IPO placement of up to ₹200 crore, which would reduce the size of the public issue accordingly.

The book-building process will allocate at least 75% of the issue to qualified institutional buyers (QIBs), 15% to non-institutional investors, and 10% to retail individual investors. The funds raised will be utilised for repayment of borrowings, investments in subsidiaries, acquisitions, and general corporate purposes.

Business Overview

Runwal Enterprises operates across Mumbai’s affordable, mid-income, and luxury residential segments, along with commercial developments. Between January 2019 and September 2024, the company ranked second in the city for both new launches and sales, with market shares of 5.69% and 5.25%, respectively.

The company holds a dominant position in the Kalyan-Dombivli submarket and has a portfolio spanning 48.71 million square feet of completed, ongoing, and upcoming projects.

Financial Performance

Driven by strong performance in its Runwal Gardens project, the company’s consolidated revenue grew by 188.55% to ₹662.19 crore in FY24. Runwal reported a net profit of ₹107.28 crore for the year, marking a turnaround from a loss in FY23.

Conclusion

With a strong presence in Mumbai’s residential real estate market and a growing project portfolio, Runwal Enterprises is positioning itself for future expansion through this IPO. The company plans to list its equity shares on both the BSE and NSE following regulatory approvals, as it seeks to strengthen its financial position and expand operations through the proposed capital raise.

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.

SBI Card Appoints Salila Pande as MD & CEO, Effective April 1, 2025

India’s credit card industry is witnessing a key leadership shift as SBI Cards and Payment Services, the country’s largest standalone credit card issuer, has announced a major top-level appointment.

Leadership Transition Announced

SBI Card has appointed Salila Pande as its new Managing Director and Chief Executive Officer, effective April 1, 2025. The company disclosed the appointment through a regulatory filing to the BSE and NSE.

Veteran Banker Takes the Helm

Pande brings close to 30 years of banking experience with the State Bank of India (SBI), the parent company of SBI Card. Most recently, she served as Chief General Manager of the Mumbai Metro Circle, leading SBI’s retail operations in one of India’s largest financial markets.

She also served as President and CEO of SBI California, where she managed the bank’s U.S. operations through the COVID-19 pandemic, demonstrating effective leadership during global economic uncertainty.

SBI Cards Share Price Performance

Shares of SBI Card ended 2.39% lower on April 1, 2025, closing at ₹860 per share. The stock saw muted investor sentiment despite the announcement, amid broader market volatility at the start of the financial year.

Conclusion

The appointment of Salila Pande marks a new phase of leadership for SBI Card. Backed by decades of experience within the SBI group, her elevation comes at a time when the credit card sector in India is expanding rapidly. Investors and industry observers will be watching closely to see how the company navigates this next chapter under her leadership.

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.

Coal India Misses FY25 Production Target as March Output Drops 3.1%

As FY25 comes to a close, Coal India, the country’s largest coal producer, has fallen short of its annual production target. The state-run miner reported a decline in output for March 2025, alongside flat off-take growth for the full year.

Production Falls Short of FY25 Target

State-run Coal India Ltd. failed to meet its production target for the financial year 2025, with output in March declining on a year-on-year basis. The company reported a total production of 85.8 million tonnes (MT) for March 2025, a drop of 3.1% compared to the same month last year.

Among the company’s subsidiaries, Central Coalfields Ltd. and South-Eastern Coalfields Ltd. recorded a fall in monthly output, while other subsidiaries posted production growth ranging between 2% and 12% year-on-year.

Flat Offtake Dampens Annual Performance

Coal India’s total offtake for FY25 stood at 763.2 MT, registering a modest growth of 1.3% compared to FY24. The company reported an offtake of 69 MT for March 2025, up just 0.3% from the previous year.

The flat offtake and weaker-than-expected production figures point to operational headwinds in the latter part of the financial year, despite earlier projections of higher coal demand.

Recent Price Hike at Subsidiary Level

In February 2025, Coal India had announced a ₹300 per tonne price hike for coal sold through its third-largest subsidiary, Northern Coalfields Ltd. The price revision was aimed at improving realisations amid fluctuating demand and rising operational costs.

Coal India Share Price Performance

Shares of Coal India ended flat on April 1, 2025, closing at ₹398 apiece. The stock has remained largely range-bound in recent sessions, with the latest production and offtake data failing to trigger significant investor reaction.

Conclusion

Despite some subsidiaries showing growth, Coal India’s overall performance for FY25 fell short of expectations due to a decline in March production and muted off-take growth. Market participants will now watch for updates on FY26 guidance and the potential impact of the recent price hike on the company’s earnings trajectory.

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.

Ola Electric Share: Lower Units Sold in March 2025; FY25 at 3.44 Lakh, Maintaining a 30% Market Share

India’s leading electric two-wheeler manufacturer, Ola Electric, released its March 2025 business update, outlining monthly sales figures. The company also provided insights into its annual performance, offering a snapshot of its operational momentum amid ongoing challenges.

March 2025 Sales and Annual Performance

Ola Electric registered 23,430 electric two-wheeler units in March 2025, according to the VAHAN portal. The number is slightly lower than February’s 25,000 units and falls well short of the 50,000-unit monthly target necessary for EBITDA breakeven, said CEO Bhavish Aggarwal at an analyst call after the company’s December quarter earnings.

Despite the decline, Ola reported total registrations of 3,44,005 units for FY25, maintaining a 30% market share in the electric two-wheeler segment and retaining its industry leadership.

Update on Registration Backlog

The company addressed the registration backlog issue stemming from its transition to in-house vehicle registration processes in February. This move caused a temporary disruption in daily registration volumes.

“We have nearly cleared the February backlog and expect to complete the remaining February–March registrations in April 2025. To support this, we’re scaling up our registration operations and actively coordinating with all external stakeholders,” Ola said in a filing.

Gen 3 Portfolio Deliveries and Demand

Ola confirmed that deliveries of its Gen 3 product portfolio began in March 2025. The company reported stronger-than-anticipated customer demand, which led to a production ramp-up during the month. It plans to further scale production in April 2025 to accelerate deliveries and enhance customer experience.

The Gen 3 launch is part of Ola’s broader strategy to refresh its product lineup and maintain its dominant position in the electric mobility space.

Ola Electric Share Price Performance

Following the operational update, Ola Electric’s share price opened at ₹52.81 on 1 April 2025, reached an intraday high of ₹54.40, and closed the day at ₹52.75, slightly lower than its previous close of ₹53.05.

While the company’s efforts to resolve delivery and registration issues have been received positively, the stock remains well below its IPO price and all-time high, reflecting ongoing investor caution.

Conclusion

Ola Electric’s March performance highlights both operational challenges and progress. While sales dipped slightly, strong demand for the new Gen 3 range and steps to resolve the registration backlog indicate that the company is working to stabilise operations. The next few months will be crucial in determining whether it can regain momentum and move closer to its breakeven goals.

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.

Retaggio Industries IPO Allotment Status

Retaggio Industries IPO is a fixed price issue of ₹15.50 crore, comprising 61.98 lakh fresh shares at a price band of ₹25 per share. The IPO opened on March 27, 2025, and closes on April 1, 2025, with allotment expected on April 2, 2025, and a tentative listing on April 4, 2025, on the BSE SME platform.

Retail investors must apply for at least 6,000 shares (₹1,50,000), while HNIs require a minimum of 12,000 shares (₹3,00,000). Share India Capital Services handles the IPO, with Bigshare Services as the registrar and Share India Securities as the market maker.

How to Check Retaggio Industries IPO Allotment Status Online on BSE?

  • Go to the application status page.
  • Select “Equity” under the Issue Type.
  • Choose “Retaggio Industries” from the Issue Name dropdown.
  • Provide your Application Number or PAN.
  • Click on “I am not a robot” and Submit.

How to Check Retaggio Industries IPO Allotment Status Online on the Registrar’s Website?

  • Go to the registrar’s official website.
  • Select “Retaggio Industries” from the company list.
  • Enter your Client ID, Application Number, or PAN.
  • Click on Submit.

Retaggio Industries IPO Details

Retaggio Industries IPO is a ₹15.50 crore fixed price issue with 61.98 lakh fresh shares at a price of ₹25 per share. It opened on March 27, 2025, and closes on April 1, 2025. The allotment is on April 2, 2025, with a tentative listing on April 4, 2025, on the BSE SME platform.

Allocation Quota for Retaggio Industries

The table below breaks down the Retaggio Industries share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.

Category of Investors Allocation of shares under IPO
Market Maker Shares Offered 5,64,000 (9.1%)
Other Shares Offered 28,17,000 (45.45%)
Retail Shares Offered 28,17,000 (45.45%)
Total Shares Offered 61,98,000 (100%)

Data Source: BSE-SME

Retaggio Industries IPO – Overall Subscription Status

Category Subscription (times)
Market Maker 1
Non Institutional Investors 0.88
Retail Individual Investors(RIIs) 1.45
Total 1.17

Note: The final subscription details are as of April 1, 2025

Retaggio Industries Business Overview

The company was incorporated as Retaggio Industries Limited on January 7, 2022, under the Companies Act, 2013. It received its certificate of incorporation on January 17, 2022, and later acquired the running business of M/s Vaibhav Gems, a sole proprietorship firm owned by the promoter Mr. Savinay Lodha, through a Business Transfer Agreement dated November 21, 2022.

Retaggio Industries Limited operates in the gems and jewellery sector, focusing on the design, manufacturing, and sale of a wide range of jewellery products. The company specialises in producing gold, silver, and imitation jewellery, catering to both domestic and export markets through wholesale, retail, and institutional channels.

Know more about IPO allotment status and check your application details online for the latest updates on share allocation.

 

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.

Bank of India Flags ₹616.30 Crore Rolta India Account as Fraud, Reports Strong Q3 FY25 Earnings

State-run Bank of India Ltd has classified a non-performing asset (NPA) linked to Rolta India Ltd, amounting to ₹616.30 crore, as fraud, as reported by CNBC TV18. The announcement was made on March 26 as part of its regulatory disclosure under SEBI (LODR) Regulations, 2015. The bank also reported strong financial performance for Q3 FY25, alongside a fresh overseas borrowing agreement.

Rolta India NPA Classified as Fraud

Bank of India said it has reported the ₹616.30 crore NPA related to Rolta India to the Reserve Bank of India (RBI) in line with regulatory norms. The classification is part of its ongoing monitoring and internal disclosure policies for non-performing accounts. This development is expected to impact the bank’s asset quality, although specific provisioning details were not disclosed.

Overseas Borrowing Agreement Secured

Separately, the bank’s IBU Gift City Branch has executed a facility agreement worth JPY 15 billion (approximately $100 million). The funds, expected to be received on March 27, 2025, will be used for on-lending and general corporate purposes through the bank’s overseas branches. This move strengthens the bank’s international funding base amid ongoing credit expansion.

Q3 FY25 Financial Performance

Bank of India reported a 35% year-on-year growth in net profit, reaching ₹2,517 crore in Q3 FY25, compared to ₹1,870 crore in Q3 FY24. On a sequential basis, profit rose 6% from ₹2,374 crore in Q2 FY25.

Operating profit grew 23% YoY to ₹3,703 crore, although it was lower than ₹4,147 crore in the previous quarter. Net Interest Income (NII) increased 11% YoY to ₹6,070 crore, up from ₹5,463 crore in Q3 FY24 and marginally higher than ₹5,986 crore in Q2 FY25.

Margins, Expenses, and Asset Returns

Operating expenses for the quarter stood at ₹4,114 crore, up from ₹3,653 crore a year ago, but down from ₹4,355 crore in Q2 FY25. The Net Interest Margin (NIM) was recorded at 2.80%, slightly below 2.85% in Q3 FY24 but better than 2.82% in the previous quarter.

The bank’s Return on Assets (RoA) improved by 14 basis points year-on-year to 0.96%, and was up 2 basis points sequentially from 0.94% in Q2 FY25, reflecting better earnings efficiency. Shares of Bank of India ended the day at ₹106.90 on March 28, down by 0.80%.

Conclusion

Despite flagging a large NPA linked to Rolta India as fraud, Bank of India posted a strong performance in Q3 FY25, supported by healthy growth in profit and interest income. With a fresh overseas borrowing facility and improving asset returns, the bank appears to be ready for the future.

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.

Credit Growth to Industry Slows to 7.3% in February Fortnight, Services and Retail Lending Decelerate

Bank credit growth to India’s industrial sector slowed to 7.3% in the fortnight ended February 21, 2025, compared with 8.4% in the same period last year, according to Reserve Bank of India (RBI) data released on March 27. The overall non-food credit growth also decelerated, signalling broader moderation across sectors.

Credit to Industry and Agriculture

While industry credit grew at a slower pace, certain segments such as ‘petroleum, coal products and nuclear fuels’, ‘all engineering’, ‘construction’, and ‘paper & paper products’ recorded improved year-on-year growth. These sectors continued to see steady lending activity amid broader sectoral softness.

Credit to agriculture and allied activities registered a growth of 11.4% year-on-year in the fortnight ended February 21, 2025, down from 20% in the corresponding period last year.

Non-Food Credit Growth Slows to 12%

Non-food bank credit, which represents the bulk of overall lending, rose by 12% year-on-year in the fortnight ending February 21. This is lower than the 16.6% growth recorded during the same period in 2024.

The RBI’s sectoral credit deployment data is based on information collected from 41 select scheduled commercial banks, which account for around 95% of total non-food credit.

Services Sector Sees Slower Growth

Credit to the services sector grew 13% in the reporting fortnight, compared to 21.4% in the same period last year. The moderation was largely attributed to a slowdown in lending to non-banking financial companies (NBFCs).

However, credit to the ‘computer software’ segment accelerated, while lending to ‘professional services’ and ‘trade’ segments remained robust, highlighting sector-specific divergence in credit demand.

Retail Lending Growth Moderates

Credit to the personal loans segment grew at 14% year-on-year, compared to 18% a year earlier. The slowdown was led by weaker growth in ‘other personal loans’, ‘credit card outstanding’, and ‘vehicle loans’ categories, traditionally among the strongest retail loan performers.

Conclusion

The RBI data for February 2025 points to a broad-based moderation in credit growth across industry, services, and personal loan segments. While some sectors continue to register healthy lending trends, the overall pace of credit expansion reflects a cautious lending environment amid economic uncertainties and subdued demand.

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.

Housing Sales Drop 28% in Q1 2025

India’s residential real estate sector witnessed a sharp deceleration in Q1 2025, with housing sales across the top 7 cities dropping 28% year-on-year, according to ANAROCK Research. Rising property prices, combined with global economic headwinds, have weakened buyer sentiment, reversing the growth seen in 2024.

Sales Slump Across Major Cities

Approximately 93,280 units were sold in Q1 2025, down from 1.30 lakh units a year ago. The Mumbai Metropolitan Region (MMR) and Pune contributed 51% to overall sales, but both cities recorded notable declines; MMR fell by 26% and Pune by over 30%.

Among other metros, Hyderabad posted the steepest drop in housing sales, down 49% YoY. Bengaluru was relatively resilient, recording the smallest dip at 16%.

New Launches Fall 10%, Luxury Segment Expands

New residential launches declined by 10% from 1,10,865 units in Q1 2024 to 1,00,020 units in Q1 2025. Despite the overall fall, developers continued to focus on the premium end of the market. Homes priced above ₹1.5 crore accounted for 42% of new supply, while the ₹80 lakh to ₹1.5 crore segment made up 27%.

Interestingly, NCR, Bengaluru, and Kolkata defied the overall trend. New launches rose by 53% in NCR, 27% in Bengaluru, and 26% in Kolkata. On the other hand, Hyderabad saw the biggest decline, with new launches down by 55%.

Property Prices Surge Despite Weak Demand

Despite a slowdown in sales and launches, property prices surged by 17% YoY. NCR led the price increases with a 34% jump, followed by Bengaluru at 20%. The upward movement in prices has been attributed to rising input costs and sustained demand for high-end housing.

Unsold Inventory Trends Mixed

Overall unsold housing inventory declined by 4% YoY to 5.60 lakh units at the end of Q1 2025. Pune recorded the sharpest fall in unsold stock at 16%, while Bengaluru witnessed a 28% increase in unsold inventory, an unusual trend given its historically stable demand.

Conclusion

India’s housing market has entered a cautious phase in Q1 2025, with sales and launches declining across most major cities. While the luxury segment continues to attract interest, rising prices and economic uncertainties appear to be deterring mid-income homebuyers. The contrasting trends across cities highlight the fragmented nature of recovery in the real estate sector.

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.

FIIs Turn Net Buyers in March with ₹11,000 Crore Inflows Post Nifty Rejig

Foreign institutional investors (FIIs) have made a notable return to Indian equities in March, marking the first net inflows after two consecutive months of outflows. According to provisional data from the NSE, FIIs recorded net purchases of over ₹11,000 crore as of March 27, following the Nifty index rebalancing.

Reversal After Two Months of Selling

Till March 26, FIIs had remained net sellers to the tune of ₹67 crore, as per NSDL data. However, inflows surged following passive buying triggered by changes in the Nifty index. This is the first time since December 2023 that monthly net inflows have crossed ₹11,000 crore, signalling a potential turnaround in sentiment.

During the first half of March, FIIs were net sellers of more than ₹22,000 crore, making the reversal particularly significant.

Supportive Factors Driving Inflows

Several factors have contributed to the recent FII interest in Indian equities:

  • Nifty Rebalancing: Passive flows associated with index changes led to fresh allocations by global funds tracking the benchmark.

  • Attractive Valuations: The recent market correction has improved valuations across key sectors.

  • Global Underperformance: Weaker trends in US and Chinese equities have made India a relatively stronger investment destination.

  • RBI’s Liquidity Measures: Recent actions by the Reserve Bank of India have improved domestic liquidity conditions, making the market more appealing to foreign investors.

FIIs’ Recent Selloff Trend

Since the end of September 2024, FIIs had consistently sold Indian equities, citing elevated valuations, moderate earnings growth, and macroeconomic concerns. Between October 2024 and February 2025, FIIs pulled out approximately ₹2.19 lakh crore from Indian markets.

The renewed buying in March comes as a break in this trend, offering a potential signal of stabilisation in global investor sentiment towards India.

Conclusion

With net inflows exceeding ₹11,000 crore in March, FIIs have shown renewed confidence in Indian equities following months of heavy selling. While passive flows from index rebalancing played a key role, supportive macro factors and improved valuations may help sustain the momentum going forward.

 

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.

Hindware Homes to Demerge into 2 Listed Entities for Focused Growth

Hindware Homes Ltd. has announced a strategic demerger of its operations into 2 separate listed companies. The board of directors has approved the restructuring move to enable a sharper operational focus across its consumer and building products segments.

Details of the Demerger

As per the plan, Hindware Homes will be split into:

  • Consumer Products Business: This company will include kitchen appliances, consumer appliances, fixtures and fittings, and water heaters.
  • Building Products Business: This company will house sanitaryware, faucets, tiles, plastic pipes, and fittings.

Each entity will be listed independently, allowing for better capital allocation, improved performance tracking, and more tailored growth strategies.

Financial Performance and Debt Position

During the first 9 months of FY25, the building products business contributed 85.7% to the company’s total revenue, while the consumer products business accounted for 14.3%.

The building products segment reported an EBIT of ₹68.5 crore during this period. In contrast, the consumer products business posted an EBIT loss of ₹27 crore.

As of December 2024, the net debt of the consumer products business stood at ₹8 crore, while the building products business carried a significantly higher net debt of ₹665 crore.

Market Capitalisation and Strategic Intent

Hindware Homes’ total market capitalisation stood at ₹1,800 crore as of March 28. The demerger is expected to unlock value for shareholders by enabling each entity to operate independently and focus on its core strengths.

Management expects that the move will enhance strategic flexibility, drive growth, and attract sector-specific investments for both businesses.

Conclusion

The demerger marks a significant transformation for Hindware Homes as it aligns its corporate structure with the distinct nature of its businesses. By forming 2 independent listed companies, the firm is aiming for operational efficiency, better financial clarity, and long-term value creation.

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.