Overwhelming Response to Liqvd Digital India Limited’s IPO; Issue Subscribed 5.08 Times on Final Day of Bidding

Mumbai, September 25, 2026: The Initial Public Offering of Liqvd Digital India Limited was subscribed 5.08 times on the final day of bidding.

The issue received bids of 3,86,12,000 equity shares against the offered 75,94,000 equity shares, according to data available on the stock exchanges. 

Retail and Qualified Institutional Buyers (QIB) Portion were subscribed 1.43 times and 1.00 times, respectively. Non-Institutional Investors (NII) Portion was subscribed 21.02 times.

Company Information

Incorporated in 2013, the company is positioned as a creative-first agency offering end-to-end marketing solutions. Its services encompass content creation and production, media buying, content marketing, and performance reporting. Following the acquisition of AdLift, the agency has expanded its capabilities to include performance monitoring, SEO, and AI-driven content creation, positioning itself as a one-stop solution for clients seeking integrated marketing services (Source: Ken Research Report, page 62).

The company develops and manages a range of digital marketing content, through services like social media management, media planning and buying across platforms, online reputation management, creative and content production, influencer marketing operated through a in house creator network, and web and application development.

 The primary objective of the company is to provide effective media solutions and leverage on technology to help brands, companies, and businesses identify, target, acquire, and retain the right audience for their products and services. It serves a broad client base, working with large enterprises, mid-sized brands, and direct-to-consumer startups. 

 The company and AdLift Marketing are present in India with offices in two cities - Mumbai and Gurgaon, and a compact in-house studio in Mumbai with a green screen set up, which is used for internal content (founder videos, interviews), and support basic production activities like green screen, editing and voiceover coordination.

German Green Steel and Power Limited Raises Rs 91.16 Crore from Anchor Investors

 

Mumbai, September 24: German Green Steel and Power Limited, which is a vertically integrated iron and steel manufacturer primarily operating with a presence in Gujarat with a main focus on TMT Bars, has garnered Rs 91.16 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Friday, September 25, 2026.

The company informed the bourses that it allocated 65,58,991 equity shares at Rs 139 per share to anchor investors.

Some of the marquee institutions that participated in the anchor include Necta Bloom VCC – Necta Bloom One, Lords Multigrowth Fund, Compact Structure Fund, Arnesta Global Opportunities Fund PCC – Arnesta Global Fund 1, Zeal Global Opportunities Fund and Venus Investments VCC – Venus Stellar Fund.  

Systematix Corporate Services Limited, Emkay Global Financial Services Limited, and Pantomath Capital Advisors Private Limited are the book-running lead managers, and Bigshare Services Private Limited is the registrar of the offer.

The equity shares are proposed to be listed on NSE and BSE.

IPO Details

German Green Steel and Power Limited has fixed the price band of Rs 132 to Rs 139 per Equity Share of face value Rs. 10/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, September 25, 2026, for subscription and close on Tuesday, September 29, 2026.

Investors can bid for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.

The IPO, with a face value of Rs 10, is a fresh issue up to Rs 290 crore and an offer for sale for up to 10,00,000 equity shares by promoters – Inamulhaq Shamsulhaq Iraki, and Abdulhaq Shamsulhaq Iraki.

The company has, in consultation with the book-running lead managers, undertaken a pre-IPO Placement of 18,38,000 fully paid-up equity shares at an issue price of Rs 270 per equity share (including a premium of Rs 260 per equity share) for Rs 49.62 crore on September 26, 2025. The size of the fresh issue has been reduced by Rs 49.62 crore pursuant to the pre-IPO placement and the revised size of the fresh issue is up to Rs 290 crore.

The proceeds from its fresh issuance worth Rs 226.3 crore will be utilised for funding the capital expenditure requirements of the company towards expansion of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant (Project), Rs 7.6 crore for prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company, and general corporate purpose.

The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Individual Investors (RIIs).

Company Information

Incorporated in 2008, the company is a vertically integrated iron and steel manufacturer primarily operating with a presence in Gujarat with a main focus on TMT Bars (Source: CARE Report). The company has two manufacturing facilities located in Gujarat (Manufacturing Facilities), one located at Samakhiyali (the Samakhiyali Facility) which is vertically integrated, and the other is located at Viramgam (Viramgam Facility) which is operated through its material subsidiary- German TMT Private Limited (formerly known as German TMX Private Limited).

Steel scrap is one of its primary raw materials used in the manufacturing process, enabling it to recycle ferrous material into finished steel products. As on the date of this Red Herring Prospectus, its product portfolio comprises mainly of TMT Bars, MS Billets and Sponge Iron. 

The company’s TMT bar manufacturing capabilities range from 8 mm to 40 mm. Further, in Fiscal 2026, and it received a Green Steel certificate from the National Institute of Secondary Steel Technology, Mandi Gobindgarh, pursuant to which its TMT bars were accorded a 5-star green steel rating, which is the highest green steel rating.

The company is currently in the process of expanding the installed capacity of sponge iron at its Samakhiyali facility from 66,000 tonnes to approximately 1,48,500 tonnes, MS billets production capacity from 2,14,500 tonnes to 4,12,500 tonnes, and existing installed TMT Bars production capacity at the Samakhiyali Facility from 181,500 tonnes to 346,500 tonnes.

 

SRIT India Limited IPO Opens on September 28, 2026

SRIT India Limited IPO Opens on September 28, 2026 

Total Issue Size – Up to 16,800,000 Equity Shares of ₹5 each

IPO Size - ₹218.4 Crore (At Upper Price Band)

Price Band - ₹123 - ₹130 Per Equity Share

Lot Size – 115 Equity Shares 

Mumbai, September 24, 2026 – SRIT India Limited, a Bengaluru-headquartered Information Technology and Information Technology enabled Services (IT/ITeS) solutions company, proposes to open its Initial Public Offering on Monday, September 28, 2026 aiming to raise ₹218.4 Crore (At Upper Price Band), with shares to be listed on the NSE & BSE platform.  

The issue size is 16,800,000 equity shares at a face value of ₹5 each with a price band of 

₹123 - ₹130 Per Equity Share. 

Equity Share Allocation

Net QIB – Not more than 50% of the Issue

NII – Not less than 15% Of the Issue

Individual Investors – Not less than 35% of the Issue

The net proceeds from the IPO will be utilized for Funding of capital expenditure requirements towards modernization of existing products and redevelopment, Funding working capital requirements, Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and General Corporate Purposes. The anchor bidding is on Friday, September 25, 2026 and the issue will open on Monday, September 28, 2026 and will close on Wednesday, September 30, 2026.

                                                                                    

The Book Running Lead Manager to the Issue is Choice Capital Advisors Private Limited, The Registrar to the Issue is KFin Technologies Limited.

 

Dr. Nambiar Raghavan Madhusoodan, Managing Director & Chief Executive Officer of SRIT India Limited expressed, “The IPO marks an important milestone in SRIT’s journey of more than two and a half decades. We have built our capabilities around designing, implementing and operating mission-critical digital platforms across e-governance, telecommunications and broadband, and healthcare. The proposed deployment of the Net Proceeds towards product modernization, working capital and strategic growth initiatives is intended to support the next phase of our business as we continue strengthening our technology capabilities and expanding our solution portfolio.”

Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited said, “SRIT India Limited has developed a track record of executing large-scale digital transformation projects for Government entities and Enterprises. As of June 30, 2026, the Company had an outstanding Order Book of ₹12,047.17 million. In Fiscal 2026, revenue from operations stood at ₹4,499.99 million, with Operating EBITDA of ₹647.74 million and PAT of ₹432.89 million. The fresh issue is proposed to support product modernization, working capital requirements and strategic growth initiatives.”

About SRIT India Limited:

SRIT India Limited is a Bengaluru-headquartered IT/ITeS solutions company offering digital solutions and automation of systems through custom application development and integration services. The Company designs, implements and operates digital platforms for Government entities and Enterprises in India and select overseas markets. It is strengthening its AI capabilities through AI-enabled solutions across its core verticals and has implemented large-scale, mission-critical projects.

Operations are organised across three verticals electronic governance, telecommunications and broadband, and healthcare delivered through a full-service stack spanning architecture and design, build and integration, data migration, deployment and continuous operations and maintenance. Delivery processes are appraised at CMMI V3.0 (DEV) Maturity Level 5 (Optimizing) and Systems Security Engineering Capability Maturity Model, and carry nine ISO certifications spanning information security, IT service management, quality, environmental and occupational health and safety. 

During FY26, The Company achieved a Revenue of ₹ 4,499.99 million, EBITDA Margin of 14.39% & PAT Margin of 9.62%. 

Disclaimer: 

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Liqvd Digital India Limited’s IPO Sees Strong Demand, Issue Fully Subscribed on First Day

 

· Non-institutional investors portion subscribed 3.77 times on Day 1

 

· Issue closes on Friday, September 25, 2026, for bidding

 

 

Mumbai, 23 September 2026: The Initial Public Offering of Liqvd Digital India Limited was subscribed 1.03 times on the first day of bidding, demonstrating strong demand from qualified institutional buyers (QIB) and non-institutional investors for this IPO.

 

The issue received bids of 78,34,000 equity shares against the offered 75,94,000 equity shares, according to data available on the stock exchanges.

 

Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) portion were subscribed 3.77 times and 1.00 time respectively. Individual investors was subscribed 0.04 time.

 

The issue kicked off for subscription on Wednesday, September 23, 2026, and will close for subscription on Friday, September 25, 2026.

 

IPO Details

The offer, with a face value of Rs 5 per equity share, comprises a fresh of up to Rs 34.13 crore and an offer-for-sale up to 9,02,000 equity shares by promoters – Arnab Mitra.

 

The Initial Public Offering (“IPO” or “Issue”) of the company will open on Wednesday, September 23, 2026, and close on Friday, September 25, 2026.

 

Investors can bid for a minimum of 4,000 Equity Shares and in multiples of 2,000 Equity Shares thereafter.

 

The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Individual Investors (RIIs).

 

Company Information

Liqvd Digital India Limited Incorporated in 2013, the company is positioned as a creative-first agency offering end-to-end marketing solutions. Its services encompass content creation and production, media buying, content marketing, and performance reporting. Following the acquisition of AdLift, the agency has expanded its capabilities to include performance monitoring, SEO, and AI-driven content creation, positioning itself as a one-stop solution for clients seeking integrated marketing services (Source: Ken Research Report, page 62).

 

The company develops and manages a range of digital marketing content, through services like social media management, media planning and buying across platforms, online reputation management, creative and content production, influencer marketing operated through a in house creator

network, and web and application development.

 

The primary objective of the company is to provide effective media solutions and leverage on technology to help brands, companies, and businesses identify, target, acquire, and retain the right audience for their products and services. It serves a broad client base, working with large enterprises, mid-sized brands, and direct-to-consumer startups.

 

The company and AdLift Marketing are present in India with offices in two cities - Mumbai and Gurgaon, and a compact in-house studio in Mumbai with a green screen set up, which is used for internal content (founder videos, interviews), and support basic production activities like green screen, editing and voiceover coordination.

 

National Stock Exchange of India lists at Rs 1800 on the BSE, reaches a high of Rs 1845 on BSE

September 24, Mumbai: Shares of National Stock Exchange of India, which is the largest stock exchange in India in terms of total turnover in cash market and total turnover in equity derivatives (based on notional turnover for equity options) from Fiscal 2001 to Fiscal 2026 and the three months period ended June 30, 2026, listed at Rs 1800 on the exchange.

The scrip reached a high of Rs 1845 on the BSE.

As per BSE, the total quantity of traded shares stood at 116.53 lakh shares.

The Market Capitalisation of the Company at today’s closing price stood at Rs 4,55,400.00 crore as per BSE.

The company had offered a nearly Rs 22,561.6 crore issue for subscription from Thursday, September 17, 2026, to Monday, September 21, 2026.

The initial public offering (IPO) of National Stock Exchange of India was subscribed 5.71 times. The book-building issue received bids for 50,58,11,384 shares against 8,86,42,911 shares offered.

The portion for non-institutional investors (NIIs) was subscribed 6.55 times and for retail investors got 1.39 times subscription. The qualified institutional buyers (QIBs) portion was subscribed 12.68 times.

Mr. Ashishkumar Chauhan, MD & CEO of NSE, speaking on the occasion of NSE’s listing, said, “Today marks a historic milestone in NSE’s journey. Organisations like NSE are built once in a lifetime, and the Exchange has played an important role in transforming India’s capital markets and building an ecosystem founded on trust. NSE represents the aspirations of India’s future, and what is good for India is good for NSE. I thank SEBI, the Government of India, our investors and all stakeholders who have supported us throughout this journey. As we enter this new chapter, we remain committed to strengthening India’s capital markets and contributing to India’s growth story.”

About the Company

Incorporated in 1992, the company is the largest stock exchange in India in terms of total turnover in cash market and total turnover in equity derivatives (based on notional turnover for equity options) from Fiscal 2001 to Fiscal 2026 and the three months period ended June 30, 2026, and is also the largest stock exchange in India in terms of total turnover in exchange-traded currency derivatives (based on notional turnover for currency options) from Fiscal 20092 to Fiscal 2026 and three months period ended June 30, 2026, according to the Redseer Report.

According to World Federation of Exchanges, compared to the leading listed stock exchange groups globally, the company is the largest multi-asset class exchange in terms of number of trades in cash equities and contracts traded in equity derivatives in Fiscal 2026 and the three months period ended June 30, 2026, with a global market share of 11.38% in number of trades in cash equities and 51.18% in contracts traded in equity derivatives in Fiscal 2026, and a global market share of 10.68% in number of trades in cash equities and 50.22% in contracts traded in equity derivatives in the three months period ended June 30, 2026.

The company is a “first level regulator” in India, and in that role are committed to providing equal, unrestricted, transparent and fair access to the stock market to all market participants, including investors, issuers and intermediaries, while maintaining orderly and efficient market functioning and safeguarding investor interests.

Runwal Enterprises Limited’s Initial Public Offering to Open on September 25, 2026, Price Band set at ₹290 – ₹305 Per Equity Share of face value of ₹2 each

Photo caption 1 [L-R]: Mr Subodh Runwal Chairman & Managing Director, Mr Subhas Runwal, Mr Sidharth Runwal, Runwal Enterprises Limited at the launch of the Company’s IPO in Mumbai.

 

 

Price band of ₹290 - ₹305 per Equity Share bearing face value of ₹2 each (“Equity Shares”)

Bid/Offer Opening Date –September 25, 2026 and Bid/Offer Closing Date - September 29, 2026

Minimum Bid Lot is 43 Equity Shares and in multiples of 49 Equity Shares thereafter

September 22, 2026, Mumbai: Runwal Enterprises Limited has fixed the price band of ₹290/- to ₹305/- per Equity Share of face value ₹2/- each for its initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, September 25, 2026, for subscription and close on Tuesday, September 29, 2026.

Investors can bid for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter.

Equity shares outstanding as on date 131,391,436 equity shares of ₹2 each.

The IPO, with a face value of ₹2, is entirely a fresh issue up to ₹5,000 million.

The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% of the Net Issue being reserved for Qualified Institutional Buyers (QIBs), not less than 15% of the Net Issue being for Non-Institutional Investors (NIIs), and not less than 35% of the Net Issue being reserved for Retail Individual Investors (RIIs).

Incorporated in 2016, the company is a real estate developer present across the full spectrum of real estate development, specializing in residential projects that cater to affordable, mid-income, and luxury segments as well as commercial spaces, retail malls and educational buildings (Source: JLL Report).

The company is a recognized brand in the industry and has a strong presence in Mumbai (Source: JLL Report).

The company is ranked third in terms of new launches and sales in Mumbai with approximate market shares of 2.33% and 2.46%, respectively, between January 2023 and March 31, 2026 (Source - JLL Report).

In the eastern suburbs of Mumbai (which encompasses Mulund, Vikhroli, Ghatkopar, Kanjurmarg, Powai and Bhandup), the company ranked first in sales accounting for approximately 7.88% of sales, and fourth in new launches, accounting for approximately 2.89%, between January 2023 and March 31, 2026 (Source: JLL Report). The company is ranked first in terms of new launches and second in terms of sales in Kalyan, Dombivli, with approximate market shares of 11.41% and 6.33%, respectively, between January 2023 and March 31, 2026 (Source - JLL Report).

As of March 31, 2026, the company has a total developable area and estimated developable area (in the case of upcoming projects) of 88.37 million square feet across 19 completed projects, 28 ongoing projects and 33 upcoming projects. The company’s experience include greenfield projects requiring land acquisition, as well as flexible models and asset light models such as via joint development agreements (JDA). Greenfield projects refer to developments undertaken on land parcels that have never been previously used, developed or constructed upon for residential dwelling purposes.

Its real estate development business spans all activities related to real estate development, from the identification and acquisition of land through to the planning, execution, marketing and sales of its development projects. It is through this process that the company develops a variety of residential and commercial projects comprising apartments, retail spaces, offices, schools, hospitals, and townhalls.

As of March 31, 2026, the company has developed and is in the process of developing an aggregate developable area of 31.96 million square feet of residential, retail and commercial properties, which include residential buildings, townships, corporate offices, retail malls, retail spaces, schools and various other real estate projects spread across the eastern, central, peripheral central, south central and western suburbs of Mumbai.

The company’s vision is to be a full-service real estate developer in Mumbai, developing both residential and non-residential projects (across the price spectrum) and in communities (including integrated townships) that feature a wide range of amenities and iconic landmarks.

Its residential portfolio consists of an aggregate developable area and estimated developable area (in the case of upcoming projects) of 74.58 million square feet of completed projects, ongoing projects and upcoming projects (Projects) as of March 31, 2026, and is segmented into affordable, mid-income and luxury markets.

The company has historically focused on the affordable and mid-income residential segments (notable examples being Runwal Gardens in Dombivli and Runwal Greens in Mulund West) but has recently expanded its focus to include the luxury residential segment (namely, 7 Mahalaxmi and Girgaum).

The company is also expanding geographically within Mumbai, moving from the eastern suburbs to western areas such as Mahalaxmi, Girgaum and Bandra, and outside the MMR, near Alibaug. Its business also consists of development and lease / sale of units in certain commercial and shopping complexes. As of March 31, 2026, the company’s non-residential portfolio consists of an aggregate developable area and estimated developable area (in the case of upcoming projects) of 13.80 million square feet of projects.

In recent years, the company has also explored opportunities to grow on an asset light basis through JDAs, development agreements (DAs) and joint ventures (JVs).

Its project Runwal Bliss has been recognized as the Best Residential Project Segment - Mid at the CNBC-AWAAZ Real Estate Awards 2023. Runwal Pinnacle was honoured with the Best Ongoing Highrise Tallest Project of the Year award, and Fifth Avenue received the Best Retail Luxury Project of the Year award, both at the 7th Real Estate and Construction Industry Leadership Awards in 2024.

Further, Runwal has received several recognitions for its commitment to safety, sustainability and employee well-being. In 2026, Runwal Gardens, Runwal My City, Runwal Pinnacle, Runwal Forests, 7 Mahalaxmi and Runwal City Centre received International Safety Awards from the British Safety Council for their strong health and safety management practices during 2025. Runwal Forests and Runwal Gardens also received certificates of appreciation at the Lifting India Safety Awards 2026, while Runwal City Centre received the Safety Excellence Award (High Rise Lifting). In addition, Runwal BKC received USGBC Gold LEED Pre-Certification, while the Company was recognised as a ‘Great Place to Work’ for three consecutive years from 2024 to 2026.

Further, the Company has established strong relationships with leading international and domestic financiers, which have consistently enabled it to raise capital on favourable terms and support the growth of its business. These relationships include IndusInd Bank Limited, Kotak Mahindra Bank Limited, ICICI Bank Limited, HDFC Capital, Tata Capital Housing Finance Limited, Nishi Nippon Railroad Co. Ltd., Genkai Capital Secured Investment Pte. Ltd., Nexus Select Trust and Piramal Capital and Housing Finance Limited. In the year 2026, Nishi Nippon Railroad Co. Ltd. and Genkai Capital Secured Investment Pte. Ltd., collectively infused equity of ₹1,500.00 million in the subsidiary, Susneh Developers Private Limited, for development of Grade A commercial building i.e., Runwal BKC, and Nexus Select Trust invested ₹1,150.00 million in the subsidiary Runwal Residency Private Limited for development of R Mall in its Runwal Gardens project.

As of March 31, 2026, the company is executing ongoing projects with an aggregate developable area of 19.88 million square feet and has upcoming projects with an aggregate estimated developable area of 56.41 million square feet. These projects are located in the micro-markets of the eastern, northern, western and central suburbs of Mumbai, and near Alibaug, outside of the Mumbai Metropolitan Region.

Several infrastructure projects are underway in Mumbai to achieve long-term sustainability and enhance the city’s transportation networks, which include the Metro Lines project. These developments are expected to improve east-west connectivity, connect areas not served by the suburban rail and reduce travel time between residential and commercial hubs (Source: JLL Report). As a result, the company’s developments in Mumbai stand to benefit from increased accessibility and enhanced infrastructure, which can contribute to higher demand and potentially elevated property values in the areas surrounding these infrastructure projects.

The company’s adoption of an integrated real estate development model allows it to execute projects from initiation to completion.

One of its core strengths lies in its commitment to sustainable development, which integrates economic, social and environmental considerations into its business practices. Its environmental initiatives include the use of renewable fuels, the reduction of greenhouse gas emissions, climate risk management, water conservation, recycling and ensuring emergency preparedness. Socially, the company prioritizes health and safety, employee benefits, diversity, equity and its impact on local communities.

German Green Steel and Power Limited’s Initial Public Offering to Open on Friday, September 25, 2026, Price Band set at Rs 132– Rs 139 Per Equity Share

Price band of Rs 132– Rs 139 per Equity Share bearing face value of Rs. 10 each (“Equity Shares”)

Bid/Offer Opening Date – Friday, September 25, 2026 and Bid/Offer Closing Date – Tuesday, September 29, 2026

Minimum Bid Lot is 107 Equity Shares and in multiples of 107 Equity Shares thereafter

 

Mumbai, September 22, 2026: German Green Steel and Power Limited, has fixed the price band of Rs 132/- to Rs 139/-per Equity Share of face value Rs. 10/- each for its initial public offering.

 

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, September 25, 2026, for subscription and close on Tuesday, September 29, 2026.

 

Investors can bid for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.

 

Equity shares outstanding as on date of the Red Herring Prospectus, are 5,44,85,888 equity shares of Rs. 10 each.

 

The IPO, with a face value of Rs 10, is a fresh issue up to Rs 290 crore and an offer for sale for up to 10,00,000 equity shares by Promoter Selling Shareholders, namely Inamulhaq Shamsulhaq Iraki and Abdulhaq Shamsulhaq Iraki. The promoters have been associated with the industry since 1976 and represent the third generation of the family actively involved in driving the business.

The Company has, in consultation with the book-running lead managers, undertaken a Pre-IPO Placement of 18,38,000 fully paid-up equity shares at an issue price of ₹270 per equity share (including a premium of ₹260 per equity share) for ₹49.62 crore by way of a private placement on September 26, 2025. The size of the fresh issue has been reduced by ₹49.62 crore pursuant to the Pre-IPO Placement and the revised size of the fresh issue is up to ₹290 crore.

 

The proceeds from its Fresh Issue worth Rs 226.33 crore will be utilized for funding the capital expenditure requirements of the Company towards expansion of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant (“Project”), Rs 7.70 crore for prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company, and remaining proceeds of the Net Proceeds will be utilized for general corporate purpose.

 

The Offer is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% of the Offer reserved for Qualified Institutional Buyers (QIBs), not less than 15% of the Offer for Non-Institutional Investors (NIIs), and not less than 35% of the Offer for Retail Individual Investors (RIIs).

 

Incorporated in 2008, the Company is a vertically integrated iron and steel manufacturer primarily operating in the western region of India, with a presence in Gujarat with a main focus on TMT Bars (Source: CARE Report). The Company has two manufacturing facilities located in Gujarat (Manufacturing Facilities), one located at Samakhiyali (“Samakhiyali Facility”) which is vertically integrated, and the other is located at Viramgam (“Viramgam Facility”) which is operated through its material subsidiary- German TMT Private Limited (formerly known as German TMX Private Limited).

Steel scrap is one of its primary raw materials used in the manufacturing process, enabling it to recycle ferrous material into finished steel products. As on the date of the Red Herring Prospectus, its product portfolio comprises mainly of TMT Bars, MS Billets and Sponge Iron. 

The Company’s TMT bar manufacturing capabilities range from 8 mm to 40 mm. The Company and its Material Subsidiary have been awarded 4-star and 5-star Green Steel ratings—the highest rating achievable (as on the date of the RHP)—for their TMT bars by the National Institute of Secondary Steel Technology, Mandi Gobindgarh (India).

Additionally, the Company has expanded its product portfolio by entering the value-added steel products segment with the commencement of production of cut and bend bars and epoxy coated TMT bars. As part of its continued focus on increasing the contribution of value-added and specialised steel products, the company intends to further increase its presence in the production and sale of value-added products such as stainless-steel round bars and cut and bend bars, which are pre-cut and shaped steel bars used in construction, epoxy coated TMT bars and corrosion resistant TMT bars. 

Through these initiatives, the Company seeks to broaden its product offerings, cater to evolving customer requirements and strengthen its position across the steel value chain. It also operates a robust transportation fleet to support efficient last-mile deliveries.

In 2025, the Company entered into a contract manufacturing agreement with JSW One Distribution Limited (JODL) to manufacture quality products.

As of March 31, 2026, approximately 75.44% of the Company’s energy requirements are met by its own captive power plant and renewable energy plant. The Company intends to further reduce its reliance on electricity grid by constructing an additional hybrid wind solar plant. 

The Company is currently in the process of expanding the installed capacity of sponge iron at its Samakhiyali Facility from 66,000 Metric Tonne Per Annum to approximately 1,48,500 Metric Tonne Per Annum, MS billets production capacity from 2,14,500 tonnes per annum to 4,12,500 tonnes per annum, and existing installed TMT Bars production capacity at the Samakhiyali Facility from 181,500 Metric Tonne Per Annum to 346,500 Metric Tonne Per Annum. 

In addition, the Company is setting up a new hybrid wind-solar power plant with a total capacity of 25.20 MW (solar: 10.8 MW DC; wind: 14.40 MW) in Bharuch district, Gujarat out of which it has already commissioned a hybrid wind solar plant of 16.20 MW (Solar: 7.2 MW DC; Wind: 9.0 MW).

Its revenue from operations was Rs 1,678.98 crore during Fiscal 2026 as against Rs 1,129.78 crore during Fiscal 2024. Its net profit after tax was Rs 79.88 crore during Fiscal 2026 as against Rs 41.66 crore during Fiscal 2024.

Systematix Corporate Services Limited, Emkay Global Financial Services Limited, and Pantomath Capital Advisors Private Limited are the book-running lead managers, and Bigshare Services Private Limited is the registrar of the offer.

 

The equity shares are proposed to be listed on NSE and BSE.

 

 

German Green Steel and Power Limited is proposing to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated September 21, 2026, with the RoC. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM, https://www.systematixgroup.in/ , https://www.emkayglobal.com/ , and www.pantomathcapital.com the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at https://www.germansteel.in/our-companies/german-green-steel . Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 24 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.

 

The Equity Shares offered in the Issue have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the issue are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).

 

Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Issue or the specified securities stated in the Offer Documents. The investors are advised to refer to page 495 of the RHP for the full text of the disclaimer clause of SEBI.

 

Disclaimer Clause of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 498 of the RHP for the full text of the disclaimer clause of BSE.

 

Disclaimer Clause of NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE, nor does it certify the correctness or completeness of any of the contents of the Issue Document. The investors are advised to refer to page 498 of the RHP for the full text of the disclaimer clause of NSE.

 

 

Liqvd Digital India Limited’s Initial Public Offering to Open on September 23, 2026, Price Band set at Rs 51 – Rs 54 Per Equity Share of Face Value of Rs. 5 Each

Price band of Rs 51 – Rs 54 per Equity Share bearing face value of Rs. 5 each (“Equity Shares”)

 

Bid/Offer Opening Date - Wednesday, September 23, 2026 and Bid/Offer Closing Date- Friday, September 25, 2026

 

Minimum Bid Lot is 4000 Equity Shares and in multiples of 2000 Equity Shares thereafter

 

Mumbai: Liqvd Digital India Limited (“Company”) has fixed the price band of Rs 51/- to Rs 54/- per Equity Share of face value Rs. 5/- each for its initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Wednesday, September 23, 2026 for subscription and close on Friday, September 25, 2026.

Investors can bid for a minimum of 4000 Equity Shares and in multiples of 2000 Equity Shares thereafter.

Equity shares outstanding as on date 1,59,41,177 equity shares of Rs. 5 each.

 

The offer, with a face value of Rs 5 per equity share, comprises a fresh of up to Rs 34.14 crore and an offer-for-sale for up to 9,02,000 equity shares by promoter – Arnab Mitra.

 

The proceeds from its fresh issuance worth Rs 9 crore will be utilized for funding of purchase consideration for acquisition of 23.21% stake in AdLift Marketing Private Limited (“AdLift”), Rs 10.59 crore for funding capital expenditure, operating expenditure and other expenditure to be incurred for establishment of a full scale video content production hub (Full Scale VCP Hub), Rs 6.57 crore for funding the company's incremental working capital requirements, funding inorganic growth through unidentified acquisitions and general corporate purposes.

 

The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 30% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 35% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).

 

Incorporated in 2013, the company is positioned as a creative-first agency offering end-to-end marketing solutions. Its services encompass content creation and production, media buying, content marketing, and performance reporting. Following the acquisition of AdLift, the agency has expanded its capabilities to include performance monitoring, SEO, and AI-driven content creation, positioning itself as a one-stop solution for clients seeking integrated marketing services (Source: Ken Research Report, page 62).

The Company develops and manages a range of digital marketing content, through services like social media management, media planning and buying across platforms, online reputation management, creative and content production, influencer marketing operated through a in house creator network, and web and application development.

The primary objective of the company is to provide effective media solutions and leverage on technology to help brands, companies, and businesses identify, target, acquire, and retain the right audience for their products and services. It serves a broad client base, working with large enterprises, mid-sized brands, and direct-to-consumer startups. 

The Company has already acquired 76.79% stake in Adlift. This has opened the doors of the Company into the US, since Adlift has a subsidiary in US called Adlift Inc. The Company and AdLift are present in India with offices in two cities - Mumbai and Gurgaon, and a compact in-house studio in Mumbai with a green screen set up, which is used for internal content (founder videos, interviews), and support production activities like green screen, editing and voiceover coordination. 

Its corporate promoter, Concept Communication Limited (Concept Communication) is an integrated

communication agency with a professional team. The Company derives a significant portion of its revenue from Concept Communication Limited constituting 12.62% (on consolidated basis), 44.12%, & 14.48% (on standalone basis) of its total revenue from operations in Fiscal 2026, 2025 & 2024 respectively. 

The Company’s revenue from operations was Rs 60.24 crore (on consolidated basis) during FY26 as against Rs 18.05 crore (on standalone basis) during FY 24. Its net profit before minority interest was Rs 8.03 crore (on consolidated basis) during FY26 as against Rs 1.90 crore (on standalone basis) during FY24.

Indorient Financial Services is the book running lead manager, and Bigshare Services Private Limited is the registrar of the offer. 

The equity shares are proposed to be listed on BSE SME Platform.

Liqvd Digital India Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated September 16, 2026, with the RoC (“RHP”). The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM,  https://indorient.in/ , the website of the BSE at www.bseindia.com and the website of the Company at https://liqvd.asia/. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 30 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.

The Equity Shares offered in the Offer have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the issue are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).

Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): Since this is a SME issue pursuant to Regulation 246 of the SEBI ICDR Regulations, SEBI shall not give its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Documents. The investors are advised to refer to page 446 of the RHP for the full text of the disclaimer clause of SEBI.

Disclaimer Clause of the SME Platform of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 452 of the RHP for the full text of the disclaimer clause of BSE.

 

Sonaselection India Limited has allotted 42,90,000 Equity Shares at ₹99 per Equity Share (including a share premium of ₹89 per Equity Share), aggregating to approximately ₹42.47 crore, to 3 Anchor Investors.

Mumbai, September 16, 2026: Sonaselection India Limited, an integrated fabric manufacturing and processing company engaged in the production of value-added products, has allotted 42,90,000 Equity Shares at ₹99 per Equity Share, including a share premium of ₹89 per Equity Share, aggregating to approximately ₹42.47 crore, to 3 Anchor Investors.

The Anchor Investor Bid/Issue Period opened and closed on Wednesday, September 16, 2026, ahead of the Company’s Initial Public Offering, which opens on Thursday, September 17, 2026.

The Anchor Investors include:

Astorne Capital VCC - Arven - 53.53% ( 22,96,350 shares)

India Max Investment Fund Limited - 23.24% (9,96,900)

Lord Multigrowth Fund - 23.23% (9,96,750)

Sonaselection India Limited - IPO Details

Particulars

Details

IPO Opens

Thursday, September 17, 2026

IPO Closes

Monday, September 21, 2026

Price Band

₹94 to ₹99 per Equity Share

Face Value

₹10 per Equity Share

Minimum Bid Lot

150 Equity Shares and in multiples of 150 Equity Shares thereafter

Issue Size

Fresh Issue of up to 14,300,000 Equity Shares

Listing

BSE and NSE

Allocation

QIB – Not more than 50%; NII – Not less than 15%; Retail – Not less than 35%

About Sonaselection India Limited

Sonaselection India Limited is an integrated fabric manufacturing and processing company engaged in the production of value-added products. Leveraging advanced technology, established production capabilities and stringent quality systems, the Company converts raw textiles into finished, high-quality fabrics.

The Company manufactures 100% cotton fabric, cotton lycra or stretch fabric, cotton blends and polyester blends. Its processing capabilities cover 100% cotton, cotton blends, polyester-viscose and polyester fabrics.

Its manufacturing facility is located in Bhilwara, Rajasthan, widely known as the “Vastranagari”, and is spread across approximately 49,540 square metres. The facility has an installed processing capacity of 82.44 million metres per annum.

In Fiscal 2026, the Company expanded into the readymade garments segment through its wholly owned subsidiary, Sionnah Enterprises Private Limited, strengthening its vertical integration between fabric manufacturing and downstream garment production.

Flipkart Announces Big Billion Days 2026 with 'Luck Badal Sakta Hai' Campaign

The campaign builds on last year’s ‘Yahan Kuch Bhi Ho Sakta Hai’, bringing a new twist to Flipkart’s flagship festive event

The main campaign film features Rohit Sharma, Sreeleela, Aneet Padda, Jackie Shroff and Samay Raina, as an ordinary day takes a series of unexpected turns

Big Billion Days 2026 kicks off with early access on 8 October 2026, bringing customers across India a festive season of discovery, value and celebration

Bengaluru, 16 September 2026: Flipkart, India’s homegrown e-commerce marketplace, today announced Big Billion Days 2026, its flagship festive event, with early access beginning on 8 October 2026. The announcement marks the launch of its new campaign, ‘Luck Badal Sakta Hai, Yahan Kuch Bhi Ho Sakta Hai’. Building on last year’s ‘Yahan Kuch Bhi Ho Sakta Hai’, the campaign takes the idea further, bringing a new twist to the unexpected moments and possibilities that define Big Billion Days. 

The campaign’s main film brings this idea to life through the story of an ordinary young man caught in a streak of bad luck, reliving the same ill-fated day on a loop. As his Flipkart purchases during Big Billion Days change the course of each encounter, moments of misfortune turn into unexpected strokes of luck. The film features Rohit Sharma, Sreeleela, Jackie Shroff, Aneet Padda and Samay Raina, who appear at different points in the protagonist’s reset day.

Pratik Shetty, Vice President and Head of Growth and Marketing, Flipkart, said, "Last year, ‘Yahan Kuch Bhi Ho Sakta Hai’ captured the unexpected moments that make Big Billion Days special. This year, we wanted to take that idea a step further and explore what happens when those unexpected moments actually change your luck. ‘Luck Badal Sakta Hai’ brings that thought to life through a story that is relatable, entertaining and rooted in the role that shopping can play in changing an everyday moment. The campaign brings together familiar faces and unexpected twists to create a distinctly Big Billion Days experience for our customers.”

The campaign has been conceptualised by Leo Burnett.

Link to the full film: https://www.youtube.com/watch?v=AatGYlKbSKs

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities with a strong technology-first foundation and includes group companies Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and super.money. Established in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered user base of more than 500 million, Flipkart’s marketplace offers over 150 million products across 80+ categories. Today, there are over 1.4 million sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has pioneered services such as Cash on Delivery, No Cost EMI, Easy Returns, and UPI payments. Beyond shopping, Flipkart continues to create jobs, empower entrepreneurs, and strengthen India’s digital economy.