Doda bans protests after Mehraj Malik rally
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TN poll results: Vijay emerges as the ultimate X-factor
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Hindustan Labs, RK Steel get Sebi nod to launch IPOs
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Indian pharmaceutical firm Hindustan Laboratories has received observations from capital markets regulator Sebi, clearing a key step toward its proposed initial public offering (IPO). The IPO comprises a total issue size of up to 14.1 million equity shares with a face value of Rs 10 each. This includes a fresh issue of up to 5 million shares and an offer for sale (OFS) of up to 9.1 million shares by existing shareholders.According to the filing, the company intends to use the net proceeds from the fresh issue primarily to fund its working capital requirements and for general corporate purposes.Hindustan Laboratories operates in the generic pharmaceuticals segment, focusing on the large-scale manufacturing and supply of affordable medicines. Its portfolio mainly consists of generic formulations, drugs whose patents have expired and are typically priced lower than branded alternatives, making them widely accessible.The company’s business model is largely business-to-government (B2G), wit...
Govt caps spend for pending schemes
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New Delhi: The finance ministry has capped front-loading of expenditure under central sector schemes and sponsored schemes (CSS) that have the appraisal and approval pending for continuation under the 16th Finance Commission cycle.Allocation to these will be restricted to the first two quarters in this financial year, said officials.The move was initiated after many ministries were not able to complete the mandatory appraisal of schemes by the March 31 deadline.Also Read: RBI launches 3 key surveys for monetary policy inputThe Centre has allowed such schemes to continue on an interim basis till September 30, or until fresh approval is obtained as part of an interim funding arrangement.130617011In an official communication sent last month, the Department of Expenditure (DoE), under the finance ministry, asked ministries to complete the appraisal process before September.The department will relook at the scheme-wise allocations in September based on continuation, restructuring or consoli...