LEAP India Limited’s Initial Public Offering to Open on Friday, August 07, 2026.

LEAP India Limited’s Initial Public Offering to Open on Friday, August 07, 2026, Price Band set at ₹ 151 – ₹ 159 per Equity Share

Price band of ₹ 151– ₹ 159 per Equity Share bearing face value of ₹ 1 each “Equity Shares”

Bid/Offer Opening Date – Friday, August 07, 2026 and Bid/Offer Closing Date – Tuesday, August 11, 2026.

Minimum Bid Lot is 94 Equity Shares and in multiples of 94 Equity Shares thereafter

Mumbai, August 03, 2026: LEAP India Limited has fixed the price band of ₹ 151/- to ₹ 159/- per Equity Share of face value ₹ 1/- each for the initial public offer of its Equity Shares of face value ₹ 1/- each (“IPO” or “Offer”). 

The IPO of the Company will open on Friday, August 07, 2026, for subscription and close on Tuesday, August 11, 2026.

Investors can bid for a minimum of 94 Equity Shares and in multiples of 94 Equity Shares thereafter.

The issued, subscribed and paid-up shared capital of the Company before the Offer comprises 410,347,780 Equity Shares of ₹ 1 each 

The Offer, comprises of a Fresh Issue of such number of Equity Shares aggregating up to ₹ 4,800 million and an offer-for-sale of ₹ 20,000 million by Vertical Holdings II Pte Ltd, one of the Promoter and KIA EBT Scheme 3 (acting through its trustee, Catalyst Trusteeship Limited), a member of the promoter group.

Net Proceeds from the Fresh Issue portion of the Offer to the extent of ₹ 3,600 million are proposed to be utilised for repayment / prepayment, in full or in part, of certain borrowings availed by the company. 

Incorporated in 2013, the company utilises its ‘share and reuse’ business model, referred to as pooling, and it is the largest on-demand asset pooling provider in India’s supply chain management sector (based on the number of pooled Assets), according to the F&S Report. As of March 31, 2026, the company has 14.70 million assets and it maintains a pan-India network of over 10,100 customer touchpoints. This circular business model of the company supports its customers while reducing environmental impact and enhancing the time and cost efficiency and safety of supply chains for its customers across India.

The company’s service offerings encompass technology-enabled supply chain solutions that suit customer requirements across industries. The company’s solutions help customers to connect different stages of their own value chain, from the point of manufacturing to distribution of goods all the way to the point of sale (retail).

According to the F&S Report, pallets are a critical element of modern supply chains, enabling companies to operate more efficiently, reduce costs, and deliver products reliably and safely. Further, pallet pooling is a system where companies use pallets from a shared pool instead of purchasing their own pallets; this system is gaining traction as a cost-effective and efficient method to integrate palletization into supply.

Under this model, the ownership and management of pallets is outsourced to third party providers, effectively treating pallets as a service. This reduces the burden of procurement, maintenance, tracking, warehousing space requirements, manpower, and time, while ensuring consistent quality and availability across operations, according to the F&S Report.

Through its large asset base and pan-India network, the company is able to serve a diverse customer base spanning sectors such as fast-moving consumer goods (FMCG), food and beverage (F&B), third-party logistics (3PL), e-commerce and quick commerce, automotive, industrials and others.  

As of March 31, 2026, the company had more than 1,000 customers. The nature of its solutions and integration of these solutions into the its customers’ operations drives their dependence on the company, loyalty and retention for it, with a majority of the company's top 10 customers (in terms of revenue contribution in Fiscal 2026) having been with it for more than five years.

The company leverages technology to deliver its solutions to its customers. Its in-house developed MyLEAP platform provides customers with an interface, which highlights order information for tracking and management, details of recent orders, options for swapping damaged assets, reports, as well as offering options for help and support. It has integrated SAP S/4HANA and Salesforce Management into its systems, enabling electronic data interchange with customers

For FY26, the Company's Total Income stood at Rs 7,473.55 million as against Rs 3,719.44 million in FY24, while Revenue from Operations increased to Rs 7,295.33 million from Rs 3,649.71 million. EBITDA increased to Rs 3,788.29 million from Rs 2,099.18 million, with an EBITDA Margin of 50.69%. Net Profit After Tax increased to Rs 623.41 million from Rs 371.74 million in FY24, with a PAT Margin of 8.34%.

JM Financial Limited, Avendus Capital Private Limited, IIFL Capital Services Limited and UBS Securities India Private Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.

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

Disclaimer 

LEAP 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 August 1, 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 BRLMs i.e. JM Financial Limited at www.jmfl.com, Avendus Capital Private Limited at www.avendus.com, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcapital.com and UBS Securities India Private Limited at www.ubs.com/indiaoffers, 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  www.leapindia.net/investorcorner.html. Any potential investor should note that investment in Equity Shares involves a high degree of risk and should refer to the RHP, including the section titled “Risk Factors” on page 21 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 SEBI and the Stock Exchanges.

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 Offer are being offered and sold only (i) outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”); and (ii) in the United States to "qualified institutional buyers" (as defined in Rule 144A), in transactions exempt from the registration requirements of the U.S. Securities Act. There will be no public offering in the United States.

Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the draft 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 393 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 398 of the RHP for the full text of the disclaimer clause of BSE.

Disclaimer Clause of NSE (the Designated Stock Exchange): 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 Offer Document. The investors are advised to refer to page 398 of the RHP for the full text of the disclaimer clause of NSE.

General Risks: Investments in equity and equity-related securities involve a degree of risk and Bidders should not invest any funds in the Offer unless they can afford to take the risk of losing their entire investment. Bidders are advised to read the risk factors carefully before taking an investment decision in the Offer. For taking an investment decision, Bidders must rely on their own examination of our Company and the Offer, including the risks involved. The Equity Shares in the Offer have neither been recommended, nor approved by the Securities and Exchange Board of India (“SEBI”), nor does SEBI guarantee the accuracy or adequacy of the contents of the Red Herring Prospectus. Specific attention of the investors is invited to “Risk Factors” on page 21 of the RHP.

 

Doritos and Cinépolis India bring 'The Superhit Crunch' to cinemagoers across India with Doritos x Cinepolis Popcorn

Doritos and Cinépolis come together on the FOOVIES platform to offer a bold, cinema-first snacking experience

National, 29th July, 2026: Doritos, the world’s no. 1 nacho chip* brand and Cinépolis India, the country's first international cinema exhibitor, today announced Doritos x Cinepolis Popcorn, a snack innovation co-created for the cinema that brings the bold taste of Doritos Nachos to Cinépolis's signature popcorn. Designed especially for the big screen, the product brings together two much-loved snacking formats to create what the brands are calling ‘The Superhit Crunch’.

The partnership reflects the evolving role of food and beverage in India's cinema experience. An estimated 150 million people go to the movies in India each year, and with snacking among the country's fastest-growing consumer categories, the cinema has become a meaningful point of consumption for food and beverage brands. Food is no longer just an add-on to the experience. It is becoming a central part of how consumers enjoy cinema with friends, families and peers.

FOOVIES, the platform that brings food and movies together

Doritos x Cinepolis Popcorn launches on FOOVIES, Cinépolis India's platform that brings food and movies together. FOOVIES carries the company's menu across its cinemas, including in-seat ordering, regional menus and limited-edition offerings such as those introduced during its Blockbuster Food Festival. Food and beverage accounts for nearly 30 percent of Cinépolis India's revenue. Doritos x Cinepolis Popcorn is the latest innovation on the platform.

For Doritos, the partnership is a natural extension of the brand’s role in social hangouts and shared moments. As a brand known for bold snacking experiences, Doritos has become synonymous with occasions where people come together, whether at home, with friends, at parties or at the movies. With Doritos x Cinepolis Popcorn, the brand is now bringing its bold flavour experience into one of the most loved social hangout spaces: the cinema.

"FOOVIES is built on a reality, that food and beverage is now as much a part of the cinema visit as the film itself. What has changed is that this side of the business has matured into something brands now want to build products for, the way they would for any serious retail channel. For FMCG brands, the value is no longer only in being seen. It is in becoming part of an experience people choose and look forward to, and that is what we built Doritos x Cinepolis Popcorn to be," said Devang Sampat, Managing Director, Cinépolis India.

Sharing his remarks on the partnership, Ankit Agarwal, Marketing Director – Doritos, PepsiCo India, said, “At Doritos, said, “At Doritos, we have always believed that snacking is closely linked to social moments and shared experiences. Cinema is one of the most powerful examples of that where people come together, spend time together and look for snacks that add to the excitement of the occasion. Our partnership with Cinépolis allows us to take Doritos into a new consumption moment in a way that feels true to the brand. Doritos X Cinepolis Popcorn brings together the familiarity of popcorn with the bold taste of Doritos Nachos, creating a snack experience that is made for the big screen.”

Doritos x Cinépolis Popcorn is now available across Cinépolis cinemas.

About Doritos:  

Doritos, the world’s number one nacho* brand, is present in over 55 countries globally. Doritos is targeted at Indian consumers in the 18-to-30-year age bracket, residing in urban and semi-urban centres. Doritos is available in the following flavours: Nacho Cheese, Sweet Chili, Dinamita Fiery Lime and Chilli, and in five price points, at INR 15, INR 25 INR 35, INR 48 & INR 86 The product is available across India through a mix of large format retail chains, online channels, and neighbourhood stories.

About PepsiCo   

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $92 billion in net revenue in 2024, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCo.

Manipal Health to add 483 licenced beds through brownfield and 1,943 licenced beds through greenfield projects by 2030

Manipal Health is committed to driving growth by capitalizing on opportunities within its existing network and expanding its footprint through both brownfield and greenfield projects. It seeks to maintain and strengthen its leadership in its key regions of Karnataka, Maharashtra and Goa, and eastern India (particularly West Bengal), while increasing its presence in regions such as Delhi NCR, central India, and eastern India (particularly Ranchi, Jharkhand, and Bhubaneswar, Odisha).

Through its brownfield expansion plans, the company expects to add approximately 483 licensed beds across existing hospitals by 2030. Brownfield projects benefit from operating leverage at established facilities and generally achieve faster break-even and require lower capital expenditure than greenfield projects. It is carrying out these expansions with the aim of strengthening our position in our existing markets. 

Its greenfield expansion plan is anchored in markets where it already operates such as Karnataka and Maharashtra to enable a faster ramp-up. The company plan to add approximately 1,943 licensed beds through these greenfield projects by 2030. it will continue to explore greenfield expansion opportunities in our key regions of Karnataka, Maharashtra and Goa and eastern India.

It also intends to capture medical tourism opportunities in key locations such as Bengaluru, Kolkata, and Delhi, and it intends to expand into Mumbai. South Asia accounts for over three-quarters of medical tourism demand, with majority of medical tourists coming from Africa, the Middle East, and South Asia as of calendar year 2025, and an increase in medical tourists from the United States and the United Kingdom due to high treatment costs and long waiting periods for availing treatment in these regions (Source: CRISIL Report). In Fiscal 2026, the company treated international patients primarily from the Middle East, Africa, and South Asia.

As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and union territories. It has the widest footprint in terms of presence of hospitals among private hospital chains in India as of March 31, 2026 (Source: CRISIL Report).

Manipal Health Enterprises Ltd's Initial Public Offering is open between Wednesday, July 29, 2026, till Friday, July 31, 2026 with the Price Band set at ₹560 – ₹590 Per Equity Share.

Investors can bid for a minimum of 25 Equity Shares and in multiples of 25 Equity Shares thereafter.

Equity shares outstanding as on date 1,179,757,321 Equity Shares of ₹2 each.

The IPO is a fresh issue of up to Rs 8,000 crore, and an offer-for-sale of up to 21,613,834 equity shares by promoters - Imperius Healthcare Investments Pte. Ltd, and Manipal Education and Medical Group India Private Limited.

Manipal Health has garnered Rs 4,167 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Wednesday, July 29, 2026. The company informed the bourses that it allocated 70,628,768 equity shares at Rs 590 per share to anchor investors. 

The anchor book saw the participation of marquee institutions such as ABU DHABI INVESTMENT AUTHORITY – STABLE, TEMPLETON EMERGING MARKETS FUND, BNP PARIBAS TRUST SERVICES SINGAPORE LIMITED AS TRUSTEE OF FULLERTON ALPHA - ASIA FOCUS EQUITIES FUND, GOVERNMENT PENSION FUND Global, ALLIANZ GLOBAL INVESTORS FUND - ALLIANZ INDIA EQUITY and FIDELITY SECURITIES FUND FIDELITY BLUE CHIP GROWTH K6 FUND, amongst others.

MV Electrosystems Limited Initial Public Offering to Open on Thursday, July 30, 2026, Price Band set at Rs. 400 – Rs. 425 Per Equity Share

Price band of Rs. 400 – Rs. 425 per Equity Share bearing face value of Rs. 5 each (“Equity Shares”)

Bid/Issue Opening Date – Thursday, July 30, 2026 and Bid/Issue Closing Date – Monday, August 03, 2026

Anchor Bidding Date is Wednesday, July 29, 2026

Minimum Bid Lot is 34 Equity Shares and in multiples of 34 Equity Shares thereafter

Mumbai, July 27, 2026: MV Electrosystems Limited (“Company”) has fixed the price band of Rs. 400/- to Rs. 425/- per Equity Share of face value Rs. 5/- each for its initial public offer.

The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Thursday, July 30, 2026, for subscription and will close on Monday, August 03, 2026.

Investors can bid for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter.

Equity Shares outstanding as on date are 2,04,59,200 equity shares of Rs. 5 each.

The IPO is a fresh issue of Equity Shares up to Rs. 2,900 million.

Out of the Issue Proceeds, Rs. 1,800 million will be for funding long-term working capital requirements of the Company, Rs. 210 million for investment in research, design and development activities for new power electronic equipment, and balance towards general corporate purposes.

The Issue is being made through the book-building process, wherein not less than 75% of the Issue is allocated to Qualified Institutional Bidders, and, not more than 15% and 10% of the Issue is allocated to Non-Institutional Bidders and Retail Individual Bidders, respectively.

About the Company

MV Electrosystems Limited is a technology-driven company engaged in the design, development, assembly and manufacturing of electrical & power electronics equipment used in railway rolling stock including IGBT based 3-Phase Drive Propulsion equipment for electric locomotives, switchgear panels for railway coaches and EMU’s, cable protection and management products and electrical components, systems & sub-systems. 

With a focus on indigenous innovation and sustainable rail transportation, the Company is aligned with national and global goals for self-dependence, rail electrification and decarbonization. 

The Company has received approvals for its IGBT based 3-Phase Drive Propulsion equipment (“3-Phase Propulsion Equipment”) from CLW in September 2025 and also commenced the commercial supplies to Indian Railways for 3-Phase Propulsion Equipment in March 2026. The 3-Phase Propulsion Equipment includes traction converter-inverter system, auxiliary converter, vehicle control units / train control management system and driver display units - all designed and developed by the Company indigenously to meet international safety and performance standards. 

The Company has also entered into a Business Cooperation Agreement with PNC Technologies Co. Ltd, South Korea for a period of three years, to collaborate exclusively for the manufacturing, supply and distribution of Auto Fault Locator system for 25 KV Rail over-head electrification line across the country. This marks the company’s entry into the rail electrical infrastructure products.

Further, the Company has also received a letter of acceptance dated June 27, 2026 from Modern Coach Factory, Raibareli for Design, Development, Manufacture, Supply, Testing and Commissioning of Microprocessor Controlled IGBT based 3 Phase Propulsion Equipment for 6 (six) MEMU trains giving order for an aggregate value of Rs. 865.46 million and five years comprehensive annual maintenance contract for aggregate value of ₹ 46.86 million, both excluding GST, marking its entry into propulsion systems for distributed power supply trains.

Research, Design and Development Centre (R&D Centre)

Company’s in-house research, design & development centre based at Faridabad, Haryana, is the technological backbone of its operations, dedicated to innovation, engineering and advancement of complex and high-performance power electronics and other railway systems. The Company has also commenced the process to set up a new R&D Centre to meet the design and development requirement for distributed power supply propulsion equipment’s.

The existing R&D Centre has been accorded recognition by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India on June 12, 2026.

The Company is focussed towards research, design and development of newer electrical equipment and power electronics systems for usage in railways industry and to play a strategic role as a domestic manufacturer with technical capabilities, indigenous designed and developed propulsion equipment and in-house assembling cum manufacturing facilities.

Manufacturing Facilities

Company’s assembling-cum-manufacturing facility is based at Village Baghola, Palwal, Haryana (Unit 1) with fabrication, assembling and testing facilities and a high speed SMT (Surface Mount Technology) line for electronics manufacturing capabilities for vehicle control unit and control systems. To expand the production capabilities, the Company has received the requisite regulatory approvals for its proposed Unit 2 at Nangla Bhiku, Palwal, Haryana which will operate on an integrated production model basis with fabrication process and electronics manufacturing capabilities at Unit 1 to support the production.

The Company has implemented quality control processes throughout the manufacturing and assembly operations to ensure that products meet safety and quality standards. 

Order Book

As on June 30, 2026, the Company has an executable outstanding order book for supply of 564 (five hundred sixty four) 3-Phase Propulsion Equipment from Chittranjan Locomotive Works, Banaras Locomotive Works and Patiala Locomotive Works, all three units of Indian Railways, having an aggregate order value of Rs. 9,216.40 million (excluding GST) and AMC of Rs. 676.78 million (excluding GST). 

Further, the Company also has developmental orders for Microprocessor Controlled IGBT based 3 Phase Propulsion Equipment for MEMU (On Board - 12 Car Rakes), Composite Converter and Hotel Load Converter for an aggregate value of Rs. 898.57 million (excluding GST) and AMC of Rs. 48.64 million (excluding GST).

Sundae Capital Advisors Private Limited is the Book Running Lead Manager, and KFin Technologies Limited is the Registrar of the Issue.

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

MV Electrosystems 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 the Red Herring Prospectus (“RHP”) dated July 23, 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.sundaecapital.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.mvelectrosystems.com/. 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” on page 22 of the RHP. Potential investors should not rely on the Draft Red Herring Prospectus 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 443 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 445 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 445 of the RHP for the full text of the disclaimer clause of NSE.

 

Bank of India’s Q1 FY27 Net Profit rises 36.23% YoY to ₹3,068 crore

Mumbai, 24th July 2026: Bank of India announced its financial results for the quarter ended June 

30, 2026. The Bank’s net profit increased by 36.23% YoY to ₹3,068 crore in Q1 FY27. Return on 

Assets and Return on Equity improved to 1.01% and 16.12%, respectively.

Bank’s Operating Profit for Q1 FY27 grew to ₹ 5,051 crore with a growth of 25.99%.

Bank’s Global Business Mix registered a growth of 16.57% YoY from ₹15,06,142 Cr in Jun’25 to

₹17,55,699 Cr in Jun’26. Global Deposits increased by 14.90% YoY from ₹8,33,698 Cr in Jun’25 to

₹9,57,924 Cr in Jun’26. Global Advances increased by 18.64% YoY from ₹6,72,444 Cr in Jun’25 to

₹7,97,775 Cr in Jun’26. Overseas Deposits increased by 7.73% YOY to ₹1,32,961 Cr and Overseas 

Advances increased by 15.67% YOY to ₹1,23,942 Cr in Jun’26. 

Domestic Deposits increased by 16.15% YoY from ₹7,10,277 Cr in Jun’25 to ₹8,24,963 Cr in 

Jun’26. Domestic CASA went up from ₹2,81,846 Cr in Jun’25 to ₹3,02,085 Cr in Jun’26 and CASA 

ratio stood at 36.68%. Domestic Advances increased by 19.20% YoY from ₹5,65,297 Cr in Jun’25

to ₹6,73,833 Cr in Jun’26.

RAM Advances increased by 19.75% YoY from ₹ 3,28,048 Cr in Jun’25 to ₹3,92,833 Cr in Jun’26, 

constituting 58.30% of domestic Gross Advancesin Jun’26. Retail Credit increased by 20.60% YoY 

from ₹1,37,782 Cr in Jun’25 to ₹1,66,170 Cr in Jun’26. MSME Advances increased by 19.34% YoY 

from ₹92,908 Cr in Jun’25 to ₹1,10,881 Cr in Jun’26. Agriculture Credit increased by 18.92% YoY 

from ₹97,358 Cr in Jun’25 to ₹1,15,782 Cr in Jun’26.

Bank’s Gross NPA ratio improved by 111 bps from 2.92% in Jun’25 to 1.81% in Jun’26. Net NPA 

ratio improved by 24 bps from 0.75% in Jun’25 to 0.51% in Jun’26.

Bank’s quarterly slippage ratio improved by 9 bps YoY to 0.24%.

Bank’s Credit Cost improved from 0.17 for Q1 FY26 to 0.15 for Q1 FY27

Capital Adequacy Ratio (CRAR) as on 30.06.2026 stands at 18.69%.

Bank’s total number of Digital Transactions improved by 22% YoY from 1.70 billion in Jun’25 to 

2.08 billion in Jun’26

Temasek-backed Manipal Health Enterprises Ltd's Initial Public Offering

Temasek-backed Manipal Health Enterprises Ltd's Initial Public Offering to Open on Wednesday, July 29, 2026, Price Band set at ₹560 – ₹590 Per Equity Share 

Price band of ₹560 – ₹590 per Equity Share bearing face value of ₹2 each ("Equity Shares")

Bid/Offer Opening Date – Wednesday, July 29, 2026 and Bid/Offer Closing Date, Friday, July 31, 2026

Minimum Bid Lot is 25 Equity Shares and in multiples of 25 Equity Shares thereafter

Mumbai, July 24, 2026: Manipal Health Enterprises Limited has fixed the price band of ₹560/- to ₹590/- 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 Wednesday, July 29, 2026, for subscription and close on Friday, July 31, 2026.

Investors can bid for a minimum of 25 Equity Shares and in multiples of 25 Equity Shares thereafter.

Equity shares outstanding as on date 1,179,757,321 Equity Shares of ₹2 each.

The IPO is a fresh issue of up to Rs 8,000 crore, and an offer-for-sale of up to 21,613,834 equity shares by promoters - Imperius Healthcare Investments Pte. Ltd, and Manipal Education and Medical Group India Private Limited.

Particulars

Fresh Issue

OFS

Total Issue Size

Lower Price Band (Rs. 560 per share)

Rs. 8000 crore

Rs. 1210.38 crore

Rs. 9210.38 crore

Upper Price Band (Rs. 590 per share)

Rs. 8000 crore

Rs. 1275.22 crore

Rs. 9275.22 crore

Investors selling shares include TPG SG Magazine Pte. Ltd, Seventy Second Investment Company LLC, Ammar Sdn Bhd, Novo Holdings Invest Asia A/S and Phoenix Bear Investments, LLC.

The proceeds from its fresh issuance worth Rs 5,552.8 crore will be utilised for repayment/prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by one of the company's material subsidiaries, Manipal Hospitals Private Limited, Rs 574 crore for acquisition of minority stake in the company's step-down subsidiary, Sahyadri Hospitals Private Limited, and general corporate purposes.

The company operates a pan-India network of multispecialty hospitals delivering a comprehensive range of care services—from outpatient services to complex tertiary and quaternary interventions. As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and union territories.

The company has the widest footprint in terms of presence of hospitals among private hospital chains in India as of March 31, 2026 (Source: CRISIL Report). It is the largest pan-India multispecialty hospital network by bed capacity and the second-largest hospital chain by number of hospitals as of March 31, 2026 (Source: CRISIL Report).

For Fiscal 2026, the company reported the second-highest revenue from operations of ₹103,357.51 million (₹109,356.18 million on a pro forma basis) among private hospital chains in India (Source: CRISIL Report).

In its three key regions of Karnataka, Maharashtra and Goa and West Bengal, Odisha, Jharkhand, and Sikkim, the company had 6,404, 2,188 and 2,887 licensed beds, respectively, as of March 31, 2026.

Among private hospital chains in India, as of March 31, 2026, the company is the largest player in Karnataka, the largest player in Maharashtra and Goa region, and the largest player in select states of West Bengal, Odisha, Jharkhand, and Sikkim (Source: CRISIL Report). Licensed beds represent the total number of hospital beds approved by regulatory authorities in a facility.

The company is the only private hospital chain network in India to lead in three metro markets of Bengaluru, Kolkata and Pune by bed capacity (5,376) as of March 31, 2026 (Source: CRISIL Report). As of March 31, 2026, the company had 2,579, 1,513 and 1,284 licensed beds and 12, five and nine hospitals in Bengaluru, Kolkata and Pune respectively. Its multi-hospital presence in these metros allows the company to deliver care closer to patients' homes, reduce travel times for critical interventions, and serve broad referral areas within each city.

In line with the company's core philosophy to improve access to healthcare, it maintains a balanced presence across metros and non-metros, with 46.78% of its licensed beds located in metros and 53.22% of its licensed beds located in non-metros as of March 31, 2026.

The company served 7.63 million patients across its network (including its O&M hospitals) in Fiscal 2026. Further, it had 11,064 doctors available to provide their services in its hospitals as of March 31, 2026.

The company offers clinical services across several specialties, with a focus on tertiary and quaternary care, particularly in cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics, and renal sciences (CONGO-R). These specialties involve high-acuity cases or cases that are severe, complex and require advanced interventions and high levels of care.

Its revenue from operations was Rs 10,335.8 crore during FY26 as compared to Rs 6,171.6 crore during FY24.

Its net profit was Rs 916.5 crore during FY26 as compared to Rs 533.2 crore during FY24.

Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited, UBS Securities India Private Limited, and DBS Bank India Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the offer.

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

Manipal Health Enterprises 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 July 23, 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, Kotak Mahindra Capital Company; Axis Capital Limited, Goldman Sachs (India) Securities Private; Jefferies India Private Limited, J.P. Morgan India Private Limited, UBS Securities India Private Limited, and DBS Bank India Limited, 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.manipalhospitals.com/. 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 34 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 draft 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 614 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 should not in any way be deemed or construed that the Red Herring Prospectus has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the Red Herring Prospectus. The investors are advised to refer to the page 618 of the Red Herring Prospectus for the full text of the disclaimer clause of BSE.

Disclaimer Clause of NSE (the Designated Stock Exchange): 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 Offer Document. The investors are advised to refer to page 619 of the RHP for the full text of the disclaimer clause of NSE.

Fusion Klassroom Edutech Limited's IPO to open on Friday, July 31, 2026, with the Price Band of Rs. 151 – Rs. 159 per Equity Share of Face Value ₹10 each

Highlights

Initial Public Offering of up to 24,55,200 Equity Shares.

Price band of Rs. 151 –Rs. 159 per equity share. 

Minimum Bid lot is 1600 equity shares and in multiples of 800 equity shares thereafter.

Issue will open for Anchor Investor on July 30, 2026

Issue opening date – July 31, 2026 and Issue closing date – August 4, 2026 

The Floor Price is 15.10 times of the face value, and the Cap Price is 15.90 times of the face value of the Equity Shares.

Mumbai, July 23, 2026: Fusion Klassroom Edutech Limited ("Company"), one of India's fast-growing hybrid edtech platforms offering K-12 education, competitive examination preparation, professional upskilling and AI/ML learning solutions, has announced the launch of its Initial Public Offering ("IPO"), scheduled to open on Friday, July 31, 2026, and close on Tuesday, August 4, 2026. The Anchor Investor Bid/Issue Period will open on Thursday, July 30, 2026, one working day before the issue opening.

The Initial Public Offering comprises a Fresh Issue of up to 19,89,400 equity shares and an Offer for Sale of up to 4,65,800 equity shares, aggregating to 24,55,200 equity shares with a face value of ₹10 each. The price band, minimum bid lot and issue size will be announced prior to the issue opening in accordance with SEBI regulations.

This Offer is being made through the Book Building Process, in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 253 of the SEBI ICDR Regulations, as amended, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that our Company, in consultation with the Book Running Lead Manager, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which forty per cent shall be reserved as (i) 33.33 per cent for domestic mutual funds; and (ii) 6.67 per cent for life insurance companies and pension funds. 

In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not 

less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders (out of which one third shall be reserved for Bidders with Bids exceeding ₹2 lakhs and up to ₹10 lakhs and two-thirds shall be reserved for Bidders with Bids exceeding ₹10 lakhs) and under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other subcategory of Non-Institutional Portion, subject to valid Bids being received at or above the Offer Price and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. 

All potential Bidders (except Anchor Investors) are required to mandatorily utilize the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts.

Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see “Offer Procedure” on page 281 of this Red Herring Prospectus.

The Net Proceeds will be utilized for the prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company; expenditure towards Technology & AI/ML Model Development, Servers and Cloud Infrastructure; funding the capital expenditure towards Content Development; funding the capital expenditure towards the procurement of desktops and laptops for the new Offline Centers' AI/ML labs; expenditure towards marketing initiatives; and funding inorganic growth through unidentified acquisitions and general corporate purposes (collectively, referred to herein as the “Objects”).

Narnolia Financial Services Limited is the Book Running Lead Manager to the Issue and Maashitla Securities Private Limited is the Registrar to the Issue. The Equity Shares are proposed to be listed on the BSE SME Platform.

About Fusion Klassroom Edutech Limited

Founded in 2016, Fusion Klassroom Edutech Limited is an education technology company focused on delivering academic, learning and skill training across India. The Company provides online education through its Klassroom Education OTT platform and offline learning and skilling programmes through its 30+ partner centres in Mumbai. It also works closely with educational institutions, universities and government bodies to deliver academic programmes, competitive examination preparation, new age skilling and employability-focused initiatives.

The Company serves individual learners through its digital platform while partnering with educational institutions, universities, enterprises and government bodies for enterprise OTT subscriptions, content development, offline training, and the establishment of AI & ML labs for academic and skill development. Its diversified business model combines subscription-based offerings with institutional partnerships and government projects, creating a scalable and asset-light platform for delivering quality education.

Fusion Klassroom has over 6 lakh registered users, more than 2 lakh paid subscribers, and offers a library of 100+ courses comprising over 3,300 hours of proprietary digital learning content. The Company 

continues to invest in AI-enabled learning technologies, multilingual content, new offline learning centres, and AI & ML labs to enhance learning outcomes and improve employability for learners across India

Disclaimer

This press release is a general corporate advertisement and for brand promotion purposes of Fusion Klassroom Edutech Limited and does not constitute an offer to sell or a solicitation to buy any securities. Fusion Klassroom Edutech Limited has filed its Red Herring Prospectus (RHP) with the SME Platform of BSE Limited (BSE SME). Investors should note that investment in equities involves risks. For details, refer to the RHP available on www.bseindia.com, the Book Running Lead Manager website www.narnolia.com and the company’s website www.klassroom.in. Consult your financial advisor before investing.

Titan Raga unveils 'Paris, with Love' collection, an ode to Parisian romance, artistry and exceptional craftsmanship

Inspired by the City of Love, the exclusive capsule collection reimagines romance as the enduring relationship a woman shares with herself

Bengaluru, 21st July 2026: There are cities that become destinations. And then there is Paris: a feeling that lingers long after the journey ends. Its winding boulevards, quiet cafés, moonlit rendezvous and timeless elegance have inspired generations of dreamers, artists and romantics. But Titan Raga's newest collection, ‘Paris, with Love,’ is reimagined not as a backdrop for two, but as a mirrored canvas reflecting a woman’s personal journey - the one that begins with embracing herself.

Built around the campaign thought ‘True Love Begins With Me,’ and brought to life by Titan Raga’s brand ambassador, Alia Bhatt, the campaign reflects the confidence, individuality and effortless elegance that define the modern Raga woman. Designed for the woman who define their own journeys, each timepiece is a reminder that the strongest relationships are the ones nurtured within.

Speaking about the collection, Aparna Ravi, Marketing Head - Watches at Titan Company Ltd., said, "Every collection at Titan Raga begins with an understanding of the woman we are designing for. Today, she is confident in her choices, embraces her individuality and seeks pieces that feel personal. With ‘Paris, with Love,’ we wanted to reinterpret the idea of romance through that lens. Every detail has been crafted to feel intimate, elegant and enduring, much like the woman who wears it. As Raga continues to evolve, our endeavour is to bring global design inspiration to Indian consumers through watches that are both meaningful and beautifully crafted."

(From left to right: Ripples of Desire, River’s Whisper, and Scarlet’s Secret)

Inspired by two of Paris' most iconic muses, the flowing Seine and the spirited Moulin Rouge, the collection captures the city's romance through graceful forms, fluid silhouettes and intricate detailing. The exclusive capsule collection comprises three distinctive timepieces, each telling a unique story. The River's Whisper reflects the luminous beauty of the Seine through a mother of pearl marquetry dial and a bracelet crafted with finely set cubic zirconia that are inspired by shimmering droplets, while Ripples of Desire captures the river's gentle movement with a textured ripple patterned dial framed by sparkling cubic zirconia. Completing the trio is Scarlet's Secret, inspired by the bold spirit of the Moulin Rouge, featuring a striking crimson heart etched dial and a reversible stone studded case back that reveals a hidden layer of artistry. 

Every detail reflects Raga's pursuit of exceptional craftsmanship. The collection is crafted in premium 316L surgical-grade steel, the highest grade of stainless steel used in luxury watchmaking, with individually engineered solid links that flow seamlessly into a premium butterfly clasp for exceptional comfort. Luminous mother-of-pearl marquetry and ripple-textured dials, sapphire crystal glass, rhodium-plated cubic zirconia settings and intricate reversible detailing come together with remarkable precision and the interplay of light, texture and graceful curves creates watches that blur the line between fine jewellery and contemporary horology.

The collection is designed to move effortlessly across occasions. Pair it with a sharply tailored ivory pantsuit for a modern take on power dressing, let it complement the understated elegance of a silk saree at an intimate celebration, or wear it with an evening gown for a candlelit dinner that stretches into the night. Understated yet unmistakable, the watches transition seamlessly across moments. 

The River's Whisper is priced at ₹55,495, Ripples of Desire at ₹53,495, and Scarlet's Secret at ₹41,995. The Paris, with Love collection is now available across Titan stores and on the official website , inviting women everywhere to begin their most beautiful love story—with themselves.

Discover the Paris, with Love collection here.

Lohia Corp Limited’s Initial Public Offering to Open on Thursday, July 23, 2026.

Lohia Corp Limited’s Initial Public Offering to Open on Thursday, July 23, 2026, Price Band set at Rs 404 – Rs 425 per Equity Share

Price band of Rs 404 – Rs 425 per Equity Share bearing face value of Re 1 each (“Equity Shares”)

Bid/Offer Opening Date, Thursday July 23, 2026 and Bid/Offer Closing Date – Monday, July 27, 2026.

Minimum Bid Lot is 35 Equity Shares and in multiples of 35 Equity Shares thereafter

Mumbai, Monday, July 20, 2026: Lohia Corp Limited (formerly known as Kanpur Packaging Machines Limited) has fixed the price band of Rs 404/- to Rs 425/- per Equity Share of face value Re 1/- each for its Initial Public Offering.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, July 23, 2026, for subscription and close on Monday, July 27, 2026.

Investors can bid for a minimum of 35 Equity Shares and in multiples of 35 Equity Shares thereafter.

The issued, subscribed and paid-up Equity share capital of our Company is 105,650,000 divided into 105,650,000 Equity Shares of face value of Re 1 each

Equity Shares outstanding as on date is 105,650,000 Equity Shares of Re 1 each

The Offer, with a face value of Re 1, consists of an Offer for Sale of up to 25,931,407 Equity Shares by promoters – Raj Kumar Lohia, Amit Kumar Lohia, Gaurav Lohia and a member of the promoter group – Ritu Lohia and Other selling shareholders - Alok Kumar Lohia, Anurag Lohia and Anuja Lohia.

The Offer is being made through the book-building process, wherein not less than 75% of the net Offer is allocated to qualified institutional buyers, and, not more than 15% and 10% of the net Offer is assigned to non-institutional bidders and retail individual bidders respectively.

Incorporated in 2023, the company is among the leading global manufacturers of machinery and equipment for technical textiles in terms of revenue in 2024, with a strong focus on solutions for producing polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks (Raffia) (Source: F&S Report, page 193).

Its revenue from operations was Rs 17,169.95 million during FY26 as compared to Rs 13,768.72 million a year earlier. Its net profit was Rs 1,934.52 million during FY26 as against Rs 1,178.41 million a year earlier. 

Equirus Capital Limited (formerly known as Equirus Capital Private Limited) and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar of the Offer.

The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

Lohia Corp Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed a red herring prospectus dated July 17, 2026, with the Registrar of Companies, Uttar Pradesh-I at Kanpur (“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.equirus.com/ and https://www.motilaloswal.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.lohiagroup.com/. 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 20 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 United States Securities Act of 1933, as amended (“U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, 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 are being offered and sold outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made.

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 Offer or the specified securities stated in the Offer Documents. The investors are advised to refer to page 454 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 456 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 Offer Document. The investors are advised to refer to page 456 of the RHP for the full text of the disclaimer clause of NSE.

 

Aware Citizenry Is The Crux Of National Progress

“India's five-century journey demonstrates that technological capability, maritime strength and innovation have always been the foundations of economic prosperity and strategic sovereignty. As India advances towards the vision of Viksit Bharat 2047, the country must strengthen indigenous innovation, scientific research, technological self-reliance and maritime capabilities to secure its position in the evolving global order”, said Dr. Chaitanya Giri, Space and Emerging Technology Fellow, Centre for Security, Strategy and Technology, Observer Research Foundation (ORF), and Senator, University of Mumbai, while introducing his book The Long Siege: 500 Years of India's Struggle for Technopolitical Freedom at the panel book discussion on "Mumbai Chronicles: 500 Years of Technopolitical Progress towards a Global Innovation and Maritime Hub," organised by MVIRDC World Trade Center Mumbai and All India Association of Industries in association with the Observer Research Foundation.

Dr. Chaitanya Giri, Space and Emerging Technology Fellow, Centre for Security, Strategy and Technology, Observer Research Foundation (ORF), and Senator, University of Mumbai, said, "Mumbai's future cannot be defined solely by its position as India's financial and commercial capital. The city's next phase of growth must be driven by innovation, technology and maritime leadership. By leveraging its strategic geography, entrepreneurial ecosystem and global connectivity, Mumbai can emerge as one of the world's foremost centres of technopolitical innovation."

 "The Long Siege: 500 Years of India's Struggle for Technopolitical Freedom underscores that cities which understand their history are better equipped to shape their future. An informed and aware citizenry is the foundation of national progress. By exploring Mumbai's scientific, technological and maritime evolution over the past five centuries, the book provides valuable insights that can help address contemporary urban and developmental challenges." said, Dr. Giri.

Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries, “Mumbai’s evolution from a maritime trading settlement into India’s financial and commercial capital reflects the country’s remarkable journey of resilience, enterprise and continuous reinvention. Every phase of the city’s development has been shaped by the convergence of technology, governance, public policy, strong institutions and entrepreneurship.”

“India was historically recognised as the ‘Golden Bird’ for its prosperity, advanced knowledge systems, flourishing industries and extensive global trade networks. Around 1700, India accounted for over one-fifth of global GDP and was a leading exporter of textiles, handicrafts, metal products and ships. The next chapter of Mumbai’s journey must support India’s rise as a global leader in science, technology and innovation, with the city serving as a gateway for knowledge, trade, maritime connectivity and technological leadership.” added Dr. Kalantri.

Dr. Sameer Patil, Director, Centre for Security, Strategy and Technology, Observer Research Foundation, who moderated the panel book discussion, said, “Mumbai’s financial prosperity was shaped by its connections with global trade corridors. Having lost economic control during the colonial period, the city must now reclaim its legacy and anchor India’s next phase of innovation.”

Mr. Abhijit Mulye, Veteran Science, Environment and Political Journalist, said "Mumbai's early Marathi newspapers played a pioneering role in science communication by publishing articles on agriculture, medicine, Ayurveda and scientific thought. Publications such as Shrishti Dnyan carried this tradition forward, while the period between 1870 and 1930 witnessed a remarkable resurgence in Indian science, culminating in Sir C. V. Raman's Nobel Prize."

Prof. Madhavi Narsalay, Professor of Sanskrit and In-Charge Director, Centre for Hindu Studies, University of Mumbai, “Mumbai emerged as an important centre of knowledge creation through institutions such as the Nirnaya Sagar Press and Venkateshwar Steam Press, which advanced Devanagari printing and regional literature. The Long Siege lays thrust on the close relationship between technology, politics and civilisation, while emphasising the need to preserve India’s indigenous knowledge systems.”

Ms. Priya Pansare, Director, Trade and Investment Promotion, World Trade Center Mumbai, said, “Mumbai’s story is one of continuous transformation, from a maritime trading settlement to India’s financial, commercial and entrepreneurial capital. As global trade routes, technology, innovation and geopolitics are being redefined, Mumbai is uniquely positioned to emerge not only as a global financial centre but also as a leading hub for innovation, technology and maritime enterprise. The convergence of technology, governance, trade and strategic vision has shaped the city’s remarkable journey over the past five centuries and will be equally important in enabling Mumbai to contribute to India’s aspiration of becoming a global economic and technological leader.”

The programme concluded with an engaging interactive discussion on India's technopolitical evolution, Mumbai's strategic importance in emerging global trade corridors, and the role of technology, innovation, research and maritime connectivity in advancing India's vision of Viksit Bharat 2047.