niftify.in

Business Standard

Oswal Pumps files IPO papers with Sebi to raise Rs 1k cr via fresh issue

Haryana-based Oswal Pumps has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of up to 1.13 crore equity shares by promoter Vivek Gupta, according to the draft red herring prospectus (DRHP) filed on Tuesday. The company may consider raising up to Rs 200 crore in a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue will be used for funding certain capital expenditures of the company; investment in wholly-owned subsidiary, Oswal Solar in the form of debt or equity, setting up new manufacturing units at Karnal, Haryana, payment of debt, and for general corporate purposes. Oswal Pumps commenced its operations in 2003 by manufacturing low-speed monoblock pumps and over the years, it expanded its operations to manufacture grid-connected high-speed

The Economic Times

Oswal Pumps files IPO papers with Sebi; aims Rs 1,000-cr via fresh issue

Haryana-based Oswal Pumps has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of up to 1.13 crore equity shares by promoter Vivek Gupta, according to the draft red herring prospectus (DRHP) filed on Tuesday.

Mint

Upcoming IPO: Haryana-based Oswal Pumps files DRHP with SEBI to raise ₹1,000 crore via fresh issue

Upcoming mainboard IPO: Oswal Pumps, a Haryana-based manufacturer of solar-powered and grid-connected pumps, has filed for an IPO to raise ₹1,000 crore. Proceeds will finance capital expenditures and new manufacturing facilities in Karnal, Haryana.

Mint

Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 18

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today —Godrej Agrovet Ltd, Sobha Ltd, and Roto Pumps Ltd.

Business Standard

CPCB notice to BPCL for failing to install vapour recovery systems

The Central Pollution Control Board (CPCB) has issued a show cause notice to Bharat Petroleum Corporation Limited (BPCL) for failing to install vapour recovery systems at 28 of its storage terminals to capture carcinogenic benzene emissions and other volatile compounds. PTI reached out to the BPCL for a comment but could not get one immediately. The notice, issued on September 4, said an environmental compensation of Rs 1 crore could be imposed if the BPCL fails to provide a satisfactory response by September 19. On September 18, 2020, the CPCB directed the BPCL to install vapour recovery systems at petrol pumps selling more than 100 kilolitres of fuel per minute (KLPM) in cities with over one million residents, and at pumps selling more than 300 KLPM in cities with populations between one lakh and 10 lakh, as well as at storage terminals. In December 2021, the National Green Tribunal (NGT) directed the CPCB to take appropriate action against petroleum outlets and depots that faile

The Economic Times

Current refining margins on fuel unsustainable, will hurt refiners: Oil secretary

Refining margins on fuels have dropped to unsustainably low levels, impacting domestic refiners, especially those without petrol pumps. Oil Secretary Pankaj Jain highlighted the issue, noting that weak fuel demand and higher refinery runs have hurt earnings. Lower crude prices may benefit some refiners but not all.

Business Line

Latteys Industries secures ₹3-cr solar pump supply order

Latteys Industries to supply solar submersible pumps to Maharashtra State Electricity Distribution Company

The Economic Times

Solar city, VR zone become popular attractions at International Solar Festival 2024

The International Solar Festival 2024 in New Delhi showcases a solar-powered city, virtual-reality experiences, and innovative solar technologies. Highlights include a virtual flipbook of global case studies, a Solar interface, and immersive zones like Solaris. The event also features products such as solar pumps and battery-operated devices, attracting students and visitors interested in sustainable energy solutions.

The Economic Times

From napkin scribbles to heart pumps, a life-saving breakthrough from casual dinner talk

An Indian surgeon and Australian professor founded Cardiobionic to create affordable heart pumps. Patented prototypes, including a bi-ventricular assist pump, use a non-contact impeller and are undergoing animal tests. Cardiobionic has been funded by Indian investors and others

The Economic Times

NexGen Energia plans to invest Rs 15,000 cr over 10 yrs to open 5,000 green diesel, CBG pumps

NexGen Energia plans a Rs 15,000 crore investment to establish 5,000 green diesel and CBG pumps across India over the next decade. The initiative aims to reduce fuel imports by 30% and create jobs for 10 lakh people. The company also expands into electric vehicles with affordable two-wheelers and upcoming electric trucks and buses.

Business Standard

PESO to draft safety norms for petrol pumps near habitation, says Goyal

Commerce and industry minister Piyush Goyal has directed PESO to formulate template of safety measures to allow petrol pumps to operate in areas with habitation within 30-50 metres. Petroleum and Explosives Safety Organisation (PESO), a subordinate office under DPIIT, plays a pivotal role in administering regulatory frameworks established under the Explosives Act, 1884 and Petroleum Act, 1934. The minister also announced 80 per cent concession for women entrepreneurs and 50 per cent for MSMEs in licensing fees for licences granted by PESO. On Wednesday, Goyal had chaired a stakeholder consultation meeting to solicit insights and feedback from petroleum, explosives, fireworks and other related industry leaders, aimed at enhancing efficiency in the functioning of PESO. "He (Goyal) directed PESO to formulate guidelines in consultation with the Central Pollution Control Board (CPCB) and Ministry of Petroleum and Natural Gas (MoPNG) for creating a template of safety measures allowing ..

The Economic Times

WILO Mather and Platt Pumps expects 25 pc of revenue from exports in next 2-3 years

WILO Mather and Platt Pumps strategically invests in India, emphasizing capacity enhancement and global operations. The company envisions substantial revenue growth through exports and heightened domestic demand, supported by a robust manufacturing infrastructure and strategic market expansion plans.