Fintech solutions provider Trust Fintech Limited said on Monday that it has filed draft red herring prospectus (DRHP) with NSE Emerge. The company’s initial public offering comprises a fresh issuance of 62,82,000 equity shares, each with a face value of ₹10.According to the DRHP, the company intends to utilise net proceeds from the IPO to establish a new development facility at Mihan SEZ.

The combined revenue of the companies that have declared their December-quarter financial results so far has risen 10.95% year-on-year, while net profits have risen 25.08%, a Mint analysis showed. Excluding the companies in the banking, financial services and insurance (BFSI) sectors, the topline grew 5.29%, while profits were up 38.59%.

Premji Invest backed Gold Plus Glass Industry, on Monday, submitted draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise funds through initial public offering (IPO). The initial public offering (IPO) includes a primary issuance of shares valued at ₹500 crore, alongside a secondary offering of 1.57 crore shares by two promoters.

Interbank call money rates are expected to rise in the coming days, causing other short-term debt instrument rates to also go up. This is due to tight liquidity conditions in the banking system, which has already led to a 5 basis point increase in rates for CPs and CDs. The RBI is conducting VRR auctions to infuse liquidity, but it may take more measures to support the market.

Indian pharma player Eris Lifesciences Ltd. said that the compay has expanded its sterile injectables footprint through the acquisition of 51 percent equity stake in Swiss Parenterals Ltd. for a consideration of Rs 637.50 crore. This deal also marks the entry of Eris into the RoW Export Markets. The acquisition of Swiss Parenterals will help us strengthen our India footprint through the launch.

The Insurance Regulatory and Development Authority of India’s (IRDAI) plan to transition to risk-based capital (RBC) framework in India will be beneficial for Indian insurance companies, IRDAI chairman Debasish Panda has said. The proposed framework will be a shift from the current factor-based solvency capital regime will in the insurance industry.

NTPC on Tuesday said its green energy subsidiary has commissioned a 14 MW capacity of Ayodhya Solar Photovoltaic Project. NTPC Green Energy Ltd, a wholly-owned subsidiary of NTPC, is setting up a 40 MW solar project in Ayodhya, Uttar Pradesh. "Consequent upon successful commissioning and due approvals, first part capacity of 14 MW out of 40 MW Ayodhya Solar PV Project of NTPC Green Energy Limited.

The shares of Rashi Peripherals will debut on the exchanges on Wednesday. Ahead of the listing, the company's shares are trading with a premium of Rs 61 in the unlisted market.Considering the upper price band of Rs 311, the stock is expected to list with 20% premium.However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up.

The Reserve Bank of India is in discussions with various organisations that run toll payments, mobile payments and bill payments, among others, to reduce customer inconvenience ahead of the frequently asked questions (FAQs) on Paytm that is expected to come out on February 14 evening or February 15, three different sources familiar with the matter told Moneycontrol.

Wipro, an IT services firm, is set to buy Aggne Global for $66 million. The deal includes a 60% stake in the insurtech company with an option to acquire the rest over time. This acquisition will position Wipro as a comprehensive player in the P&C insurance space and is expected to be completed by February 2024. Aggne Global provides IT, consulting, and managed services.

Prime Minister Modi and UAE President Sheikh Mohammed Bin Zayed Al Nahyan  introduced the UPI RuPay card service in Abu Dhabi on February 13. PM Modi is on a two-day trip to UAE. He was welcomed by President Nahyan.  The PM  was given a guard of honour on his arrival in the country. He was later accorded a ceremonial welcome at the Qasr Al Watan, the Presidential Palace.

Oil India Limited (OIL) on February 13 reported a marginal increase in consolidated net profit at Rs 2,608 crore in the December quarter of financial year 2023-24. The state-run oil producer had posted a net profit of Rs 2,528 crore in the same period a year ago. OIL's revenue from operations in the third quarter came in at Rs 10,912.61 crore, up 3 per cent from Rs 10,577.58 crore last year.

James Hardie Industries on Monday reported a 39% jump in its third-quarter profit on the back of higher average net sales prices in its North America & Asia Pacific Fiber Cement Segments. The Dublin-based firm's adjusted net income for the three months ended Dec. 31 was $179.9 million, compared with $129.2 million last year.

Suraj Estate Developers, a real estate company focused on the SCM market in Mumbai, reduced their debt by 38% to Rs 340.86 crore in the current quarter. Using IPO proceeds, they repaid high-cost debt and further reduced interest costs. Their total income in the December quarter was Rs 106.15 crore and their profit after tax was Rs 16.57 crore.

Volatility in crude oil prices is expected to continue until 2030 due to lack of investments in the energy sector and an imbalance in demand and supply, Boston Consulting Group’s Global Head, Pattabi Seshadri, told Moneycontrol in an interview. Seshadri said under-investment in the energy sector over the last 10 years, despite growing demand, will be a major reason for volatility in oil prices.