Global watchmaker Timex Group Luxury Watches BV will sell 15 per cent share in its Indian entity through an Offer for Sale (OFS). The floor price for the OFS shall be Rs 175 per equity share, which is 33 per cent lower than the Tuesday’s closing price of Rs 264.20. The OFS is scheduled to open for non-retail investors on Wednesday and for retail investors on Thursday. The offer will be open on BSE and the National Stock Exchange, it added. Timex Group Luxury Watches BV owns a 74.93 per cent stake in Timex Group India as on March 2025.

Aditya Birla Group’s metals arm Hindalco Industries Ltd on Tuesday said it will acquire US-based AluChem Companies Inc for $125 million (₹1,075 crore) in an all-cash deal. The acquisition of AluChem Companies is a strategic move designed primarily to expand the company’s global footprint for its downstream portfolio of speciality alumina and alumina products. In a statement to the exchanges, the company said the acquisition will be carried out through Hindalco’s step-down wholly-owned arm, Aditya Holdings LLC.

The Competition Commission of India (CCI) has approved Bain Capital’s proposed acquisition of a stake in Manappuram Finance. Bain Capital through its two affiliates -- BC Asia Investments XXV and BC Asia Investments XIV -- will acquire stakes in Manappuram Finance Ltd (MFL). “The proposed transaction involves four phases, where BC Asia Investments XXV (acquirer 1) will subscribe to 9.29 crore fully paid-up equity shares of MFL through private placement and preferential allotment.

 Glenmark Pharmaceuticals has launched the lung cancer treatment drug Tevimbra in India, following the approval by the Central Drugs Standard Control Organisation. Tevimbra is developed by BeiGene (now BeOne Medicines), a global oncology leader. This launch marks Glenmark’s first foray into immune-oncology in India and is a major milestone in expanding its innovative oncology portfolio, the company said in a notice to the stock exchanges, “At a time when the cancer burden is rising sharply, we are proud to enable oncologists and patients to access Tevimbra, a therapy with proven efficacy and safety outcomes, strong science, and meaningful impact,” Glenmark Pharmaceuticals President and Business Head India Formulations Alok Malik said.

Aurobindo Pharma has informed the exchanges that its step-down arm, CuraTeQ Biologics s.r.o., received UK MHRA marketing approval for Dyrupeg, a biosimilar of pegylated filgrastim. This authorization marks a key milestone in the company’s European biosimilars expansion and strengthens its pipeline in high-growth therapeutic areas.

The board of Kaynes Technology has approved the allotment of 28,72,788 fully paid-up equity shares to eligible qualified institutional buyers at an issue price of ₹ 5,569.50 a share, aggregating to ₹ 1,599.99 crore.

 Indo Rama Synthetics (India) Limited has received an intimation of Tax from the Office of the Deputy Commissioner of State Tax, Nagpur for the FY 2021-2022 for ₹36,88,89,886 for the alleged violation of the respective provisions of the Goods & Service Tax Act, 2017.

Artificial Electronics Intelligent Material Limited (formerly Datasoft Application Software (India) Ltd), has signed a Term Sheet for leasing 67,005 SFT with Volumnus Developers Private Limited for starting up factory at Green Base Industrial & logistics park, Oragadam, Chengalpattu, Tamil Nadu. A formal lease agreement will be entered between parties in due course of time and will be registered in the presence of Sub-Registrar. Security Deposit(s) have been paid to the land lord.

Gravitas India informed the exchanges that it has incorporated Recyclers Dominicana RDS, S.A.S as a step-down subsidiary in Dominican Republic. It will engage in the recycling, manufacturing and marketing of plastic, metals as well as other waste, ferrous and non-ferrous metals of all kinds; Export, import, and Marketing of Recycle products and Other Derivatives.

Kesar India has subscribed 51% stake in Kesar Maitreya Infraventures LLP, a Limited Liability Partnership incorporated on June 24. The firm will engage in the business of Developing real estate projects, including but not limited to developing Layout, construction of row houses, villas and bungalows, preparing plots and selling the same, along with any other related activities.

CIE Aluminium Casting India Ltd, a wholly owned subsidiary CIE Automotive India, has entered into Share Subscription and Shareholders’ Agreement wherein CIEALCAST has agreed to subscribe upto 29 per cent of the equity, on fully diluted basis, of Ampin Energy C&I Thirty One Private Limited and invest an amount up to ₹1.75 crore.

Supreme Infrastructure India informed the exchanges that it has been awarded a turnkey construction contract worth ₹450 crore for development of a PAP housing complex in Powai, Mumbai.

The Railways plans to initiate a marginal hike in passenger fares, July 1 onwards. Amongst the increases, AC fares across all trains and classes, barring suburban ones, will see a 2 paise per km hike, officials told businessline . This is the first time fare hikes are being initiated since 2020. Hikes between 0.5 paisa and 1 paisa per km are being initiated in some other segments too. The hike will roughly translate into a Rs. 10–15 hike in base fares for non-AC train travel per 1,000 km, and close to Rs. 20–30 hike (also in base fares) for AC compartment travel, an official said. Shares of IRCTC, Jupiter Wagons, Titagarh Rail Systems, IRFC, RVNL,Container Corporation of India shares will remain in focus.

Published on June 25, 2025