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VIPULLTD to raise ₹99.82 Crore via preferential issue of warrants
Vipul Limited's board approved a preferential issue of up to 10,85,00,000 fully convertible warrants at ₹9.20 per warrant, potentially raising ₹99.82 Crore. These warrants can be converted into equity shares within 18 months. The funds are being raised from promoter group and public category investors. An Extra-Ordinary General Meeting (EGM) is scheduled for January 08, 2026, to seek shareholder approval for the issue.
Key Highlights
Issue of up to 10,85,00,000 Fully Convertible Warrants
Issue price of ₹9.20 per warrant
Total fund raise aggregating up to ₹99.82 Crore
Warrants convertible within 18 months
EGM scheduled on January 08, 2026
💼 Action for Investors
Shareholders should review the details of the preferential issue and vote at the upcoming EGM on January 08, 2026. Monitor the conversion of warrants into equity shares and its impact on equity dilution.
JSW Paints becomes Promoter of Akzo Nobel India with 61.20% stake
JSW Paints Limited has acquired 2,78,71,723 equity shares of Akzo Nobel India Limited, becoming the promoter with a 61.20% stake. This acquisition triggers a disclosure under Regulation 7(1) of SEBI (Prohibition of Insider Trading) Regulations, 2015. The shares were acquired on December 10, 2025. Existing shareholders should monitor how this change in promoter impacts the company's strategy and performance.
Key Highlights
JSW Paints acquired 2,78,71,723 equity shares.
JSW Paints now holds 61.20% stake in Akzo Nobel India Limited.
The acquisition was made on December 10, 2025.
Disclosure made under Regulation 7(1) of SEBI PIT Regulations, 2015.
💼 Action for Investors
Investors should closely monitor the strategic changes and operational impacts resulting from JSW Paints becoming the promoter. Keep an eye on future announcements regarding board composition and company direction.
Indowind Energy approves allotment of 3,22,00,434 Equity Shares
Indowind Energy Limited's Rights Issue Committee approved the allotment of 3,22,00,434 Equity Shares at a price of ₹15.35 per Equity Share on December 12, 2025. This allotment is part of the Rights Issue to eligible equity shareholders with a record date of November 19, 2025, for an amount aggregating up to ₹4942.77 Lakhs. Following the allotment, the paid-up equity share capital of the Company has increased from ₹1,28,80,17,360 to ₹ 1,61,00,21,700. Offers for NIL Rights Equity Shares have been kept in abeyance due to pending court disputes regarding ownership.
Key Highlights
Allotment of 3,22,00,434 Equity Shares approved
Issue price of ₹15.35 per Equity Share
Rights issue amount aggregating up to ₹4942.77 Lakhs
Paid-up equity share capital increased to ₹ 1,61,00,21,700
Previous paid-up equity share capital was ₹1,28,80,17,360
💼 Action for Investors
Shareholders should note the increase in equity share capital. Monitor the company's use of funds raised through the rights issue for future growth.
ASTRAMICRO receives order worth ₹124 crore from Astra Rafael Comsys
Astra Microwave Products Limited has received an order from Astra Rafael Comsys Private Limited (Joint Venture company) for the supply of Modules, Cable Assemblies and Antenna for SDR. The total consideration for this order is ₹124 crores inclusive of all applicable taxes. The order is to be executed within 9-12 months. This order is considered a related party transaction but is done at arm's length.
Key Highlights
Received order worth ₹124 crores from Astra Rafael Comsys Private Limited
Order includes supply of Modules, Cable Assemblies and Antenna for SDR
Order to be executed within 9-12 months
Order received from Joint Venture Company
💼 Action for Investors
The order book is increasing which is a positive sign. Investors should monitor the company's ability to execute the order within the stipulated timeframe and assess its impact on revenue and profitability.
Vipul Ltd to raise ₹99.82 Cr via preferential issue of warrants
Vipul Limited's board has approved a preferential issue of up to 10,85,00,000 fully convertible warrants at ₹9.20 per warrant, potentially raising ₹99.82 Crore. These warrants can be converted into equity shares within 18 months. The funds will be raised from promoters, promoter groups, and the public category. This infusion of capital could strengthen the company's financial position and support future growth initiatives.
Key Highlights
Issue of up to 10,85,00,000 Fully Convertible Warrants
Issue price of Rs. 9.20/- per Warrant
Total fund raise aggregating up to Rs. 99,82,00,000/-
Warrants convertible within 18 months
💼 Action for Investors
Investors should monitor the conversion of warrants into equity shares and assess the impact of the increased equity base on the company's earnings per share. Keep an eye on how the raised funds are deployed and their effect on Vipul Ltd's future performance.
Paytm Completes INR 2,250 Crore Investment in Subsidiary Paytm Payments Services
One 97 Communications (Paytm) has finalized an additional investment of INR 2,250 crores into its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL). The investment was completed on December 12, 2025, through a subscription to a Rights Issue of equity shares. This move follows the company's prior disclosure on November 04, 2025, regarding capital allocation. The infusion is aimed at strengthening the subsidiary's financial position and supporting its business operations.
Key Highlights
Completed investment of INR 2,250 crores in Paytm Payments Services Limited
Investment executed via subscription to a Rights Issue of Equity Shares
PPSL remains a 100% wholly-owned subsidiary of One 97 Communications
Transaction finalized on December 12, 2025, following the November board update
💼 Action for Investors
Investors should view this as a commitment to the core payments business; monitor for updates on PPSL's regulatory license status following this capital infusion.
GeeCee Ventures Invests ₹2.78 Cr in Adani Enterprises Rights Issue
GeeCee Ventures has acquired 30,912 partly paid-up equity shares of Adani Enterprises Limited (AEL) through a rights issue, investing approximately ₹2.78 Crores. The company initially applied for 34,000 shares at ₹1800 per share, paying ₹900 per share upfront, totaling ₹3.06 Crores. AEL's turnover for FY 2024-25 was ₹26,708.97 Crores, with a profit after tax of ₹6,053.19 Crores. The acquisition is part of GeeCee Ventures' investment activity and represents a small portion of its overall investment portfolio.
Key Highlights
Invested approximately ₹2.78 Crores in Adani Enterprises Limited (AEL)
Acquired 30,912 partly paid-up equity shares of AEL
AEL's turnover for FY 2024-25 was ₹26,708.97 Crores
AEL's Profit After Tax from Continuing Operations: ₹6,053.19 Crores (for the FY 2024-25)
💼 Action for Investors
Investors should monitor AEL's performance and the payment schedule for the remaining call monies on the partly paid shares. This investment represents a small portion of GeeCee Ventures' portfolio, so its impact on the company's overall financials may be limited.
Union Bank of India Credit Ratings Reaffirmed; Tier II Bonds Withdrawn
CRISIL Ratings has reaffirmed the ratings on Union Bank of India's debt instruments, with ratings of 'Crisil AAA/Stable' and 'Crisil AA+/Stable' assigned to various Tier I and Tier II bonds. The rating agency has also withdrawn its rating on ₹1000 crore of Tier II Bonds, as these instruments are fully redeemed. Union Bank's gross NPAs decreased to 3.3% as of September 30, 2025, from 3.6% as of March 31, 2025. The bank's CAR stood at 17.1% as on September 30, 2025.
Key Highlights
CRISIL reaffirms 'Crisil AAA/Stable' rating for Tier II Bonds aggregating ₹1750 Crore.
CRISIL reaffirms 'Crisil AA+/Stable' rating for Tier I Bonds aggregating ₹7100 Crore.
Rating withdrawn for ₹1000 crore of Tier II Bonds.
Gross NPAs reduced to 3.3% as of September 30, 2025.
Capital Adequacy Ratio (CAR) at 17.1% as on September 30, 2025.
💼 Action for Investors
Investors should note the reaffirmed credit ratings and monitor the bank's asset quality and capital adequacy. The withdrawal of rating for Tier II bonds is due to redemption and does not impact the bank's overall credit profile.
Kirloskar Oil Engines: Tax Demand Reduced Significantly
Kirloskar Oil Engines Limited received an adjudication order regarding a show cause notice related to GST. The order resulted in a significant reduction of the initial tax demand. The penalty was reduced from ₹76,47,755 to ₹40,321. Similarly, the interest was reduced from ₹3,20,37,279 to ₹1,79,243, and the tax demand decreased from ₹4,05,52,111 to ₹2,15,706.
Key Highlights
Penalty reduced from ₹76,47,755 to ₹40,321
Interest reduced from ₹3,20,37,279 to ₹1,79,243
Tax demand reduced from ₹4,05,52,111 to ₹2,15,706
Adjudication Order under Section 73 (9) of the Maharashtra Goods & Services Tax Act, 2017
💼 Action for Investors
The reduced tax burden is a positive development. Investors should monitor future regulatory updates for any further impact.
Tata Power to Issue ₹2000 Crore Non-Convertible Debentures (NCDs)
Tata Power Company Limited plans to issue Unsecured, Senior, Redeemable, Rated, Listed, Taxable, Non-cumulative Non-Convertible Debentures (NCDs) on a private placement basis. The issue consists of 2,00,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹2000 crore. The NCDs are proposed to be listed on the Debt Segment of Bombay Stock Exchange of India Limited (BSE). The tenure will be either 3 years or 5 years from the deemed date of allotment, December 19, 2025.
Key Highlights
Issuance of 2,00,000 NCDs
Face Value of ₹1,00,000 per NCD
Total issue size of ₹2000 crore
NCDs to be listed on BSE
Tenure of NCDs: 3 years or 5 years
💼 Action for Investors
Investors should note the details of the NCD issuance and consider the fixed rate coupon offered based on price bidding at the Electronic Bidding Platform (EBP) of BSE. Monitor the allotment and listing on the BSE debt segment.
RUSHIL forfeits ₹7,42,50,000 from convertible warrants of Vespera Fund Limited
Rushil Decor Limited has announced the forfeiture of ₹7,42,50,000 related to 10,00,000 convertible warrants held by Vespera Fund Limited. This decision was made due to non-receipt of 75% of the amount due on these warrants, as per Regulation 169(3) of SEBI regulations. The Fund Raising Committee approved this forfeiture in their meeting held on December 12, 2025. Vespera Fund Limited has agreed to the company's decision to forfeit the warrants.
Key Highlights
Forfeiture of ₹7,42,50,000 from convertible warrants
10,00,000 convertible warrants held by Vespera Fund Limited
25% of amount paid forfeited due to non-receipt of 75% amount
Fund Raising Committee meeting held on December 12, 2025
Regulation 169(3) of SEBI (ICDR) Regulations, 2018 invoked
💼 Action for Investors
Investors should note the forfeiture of warrants and its potential impact on the company's financials. Monitor further announcements from the company regarding fund raising and warrant conversions.
Rushil Decor forfeits ₹7,42,50,000 from convertible warrants of Vespera Fund
Rushil Decor Limited's Fund Raising Committee has approved the forfeiture of ₹7,42,50,000 related to 10,00,000 convertible warrants held by Vespera Fund Limited. This forfeiture represents 25% of the amount paid on these warrants. The decision was made due to non-receipt of the remaining 75% amount as per regulatory provisions. The company had communicated with Vespera Fund Limited, who agreed with the forfeiture decision. The meeting to approve this was held on December 12, 2025, concluding at 05:40 PM.
Key Highlights
Forfeiture of ₹7,42,50,000 from convertible warrants.
10,00,000 convertible warrants held by Vespera Fund Limited are affected.
25% of the amount paid on warrants is forfeited.
Meeting concluded at 05:40 PM on December 12, 2025.
💼 Action for Investors
Investors should note the impact of this forfeiture on the company's financials. Monitor future announcements regarding fund raising activities.
GPIL to enhance BESS project capacity to 20 GWh in phase 1
Godawari Power and Ispat (GPIL) plans to increase the capacity of its Battery Energy Storage System (BESS) project from 10 GWh to 20 GWh in the first phase, with a total project capacity reaching 40 GWh in two phases. The investment for phase 1 (20 GWh) is expected to be ₹1025 Crores in FY26-27. Phase 2 will increase capacity from 20 GWh to 40 GWh in FY28-29 with an additional investment of ₹600 crores. The project will be funded through debt raised by Godawari New Energy Private Limited (GNEPL) and equity infusion by GPIL.
Key Highlights
BESS project capacity to increase from 10 GWh to 20 GWh in phase 1
Total project investment to increase to ₹1625 Crores in two phases
Phase 1 investment of ₹1025 Crores in FY26-27 for 20 GWh capacity
Phase 2 investment of ₹600 crores in FY28-29 to reach 40 GWh capacity
Commercial operations for the 20 GWh project expected in Q1 FY2027-28
💼 Action for Investors
Investors should monitor the progress of the BESS project and its impact on GPIL's future revenue and profitability. Keep an eye on the debt levels of GNEPL and the equity infusion from GPIL.
Caplin Point Labs: Successful INVIMA-Colombia Inspection at Puducherry
Caplin Point Laboratories Limited announced the successful completion of an inspection by INVIMA-Colombia at its injectables facility in Puducherry. The inspection took place between December 8th and 12th, 2025. This approval is expected to facilitate the company's expansion into the Latin American market for specialty injectable products. The company already has an INVIMA approved Softgel section at the same site.
Key Highlights
INVIMA - Colombia conducted an inspection at the Puducherry injectables facility.
Inspection was conducted between December 8th and 12th, 2025.
The company has an already INVIMA approved Softgel section at the same site.
💼 Action for Investors
This regulatory approval is a positive sign for Caplin Point's expansion plans; investors should monitor the company's progress in the Latin American market. Keep an eye on future announcements regarding product launches and revenue growth in the region.
MSPL EGM held on Dec 12, 2025 approves preferential issue of warrants
MSP Steel & Power Limited held an Extra-Ordinary General Meeting (EGM) on December 12, 2025, to approve the issue of convertible warrants on a preferential allotment basis. The meeting was conducted via video conferencing, with 38 members in attendance. The company highlighted its progress on Right to Recompense (ROR) payments under the Corporate Debt Restructuring (CDR) package, aiming to exit CDR. Exiting CDR is expected to pave the way for new growth opportunities and future expansion. Remote e-voting was available to members, and the results will be submitted separately.
Key Highlights
EGM held on December 12, 2025 at 3:00 p.m. (IST)
38 members attended the meeting
Remote e-voting available from December 9-11, 2025
E-voting facility kept open till 03:31 p.m.
💼 Action for Investors
Investors should monitor the voting results and the company's progress in exiting the CDR package, as this could lead to future growth opportunities.
IndiGo Normalizes Operations; Set to Operate Over 2,000 Daily Flights
InterGlobe Aviation (IndiGo) has announced a successful ramp-up in operations, expecting to operate over 2,050 flights on December 12, 2025. This follows a steady increase from December 8, when the airline operated over 1,700 flights. The company reported minimal cancellations, with only four flights cancelled on December 11 due to weather, while maintaining connectivity across all 138 operational destinations. This normalization indicates that the airline has recovered from previous schedule adjustments and is returning to its standard on-time performance levels.
Key Highlights
Expected to operate over 2,050 flights on Dec 12, 2025, up from >1,700 on Dec 8
Only 4 cancellations recorded on Dec 11 out of 1,950+ flights operated
Full connectivity restored across all 138 operational destinations
On-time performance reported to be back to consistent IndiGo standards
💼 Action for Investors
Investors should take confidence in the quick restoration of flight volumes, which protects market share and revenue. Monitor the next quarterly earnings to see if the temporary 'scaled down schedule' had any significant impact on margins.
Vardhman invests ₹5.05 crore in Sone Solar Energy for 19.5% stake
Vardhman Textiles Limited has invested ₹5.05 crore in Sone Solar Energy One Private Limited. This investment is for the acquisition of a 19.5% stake in Sone, which is setting up a 30 MWac (42 MWp) ground-mounted solar power generation facility in Punjab. The investment includes subscribing to 23,161 equity shares and 50,28,961 compulsory convertible debentures of Sone. This move is part of Vardhman's strategy to utilize group captive solar power.
Key Highlights
Invested ₹5.05 crore in Sone Solar Energy One Private Limited
Acquired 19.5% stake in Sone Solar Energy
Subscribed to 23,161 Equity Shares of face value of ₹10 each
Subscribed to 50,28,961 Compulsory Convertible Debentures of face value of ₹10 each
Sone is setting up a 30 MWac (42MWp) solar power facility
💼 Action for Investors
Investors should monitor the progress of the solar power facility and its impact on Vardhman's energy costs. Keep an eye on future announcements regarding the financial performance of this investment.
Jubilant Ingrevia Q2 FY26 Standalone Net Profit Drops 27% YoY to ₹44 Cr; Revenue Up 5%
Jubilant Ingrevia reported a standalone revenue of ₹1,054.18 crore for Q2 FY26, marking a 4.8% increase compared to ₹1,005.39 crore in the same quarter last year. However, net profit witnessed a significant decline of 26.8% YoY, falling to ₹44.03 crore from ₹60.18 crore, primarily due to margin pressure in the Chemical Intermediates segment which reported a loss. While the Speciality Chemicals segment showed robust EBIT growth of 46% YoY, the overall performance was weighed down by an 8% increase in total expenses.
Key Highlights
Standalone Revenue from operations grew 4.8% YoY to ₹1,054.18 crore in Q2 FY26.
Net Profit declined 26.8% YoY to ₹44.03 crore, down from ₹60.18 crore in Q2 FY25.
Speciality Chemicals segment EBIT rose significantly to ₹95.88 crore from ₹65.64 crore YoY.
Chemical Intermediates segment reported an EBIT loss of ₹14.04 crore compared to a profit of ₹30.53 crore in the previous year.
Total expenses increased to ₹1,005.63 crore, driven by higher raw material consumption and power costs.
💼 Action for Investors
Investors should remain cautious as the Chemical Intermediates segment has turned loss-making, impacting overall profitability despite growth in Speciality Chemicals. Monitor the company's ability to pass on raw material price increases in upcoming quarters.
L&T Finance Receives ESG Score of 75 from NSE Sustainability Ratings
L&T Finance Limited (LTF) has been assigned an Environment Social Governance (ESG) score of 75 by NSE Sustainability Ratings & Analytics Ltd, a subsidiary of NSE Indices Limited. This score was officially received on December 12, 2025, and reflects the company's commitment to sustainable and ethical business practices. As a SEBI-registered Category I rating provider, this assessment provides a standardized benchmark for institutional investors. High ESG scores are increasingly critical for attracting global capital and can potentially lead to better valuation multiples.
Key Highlights
Received an Environment Social Governance (ESG) score of 75.
Rating provided by NSE Sustainability Ratings & Analytics Ltd, a SEBI-registered Category I provider.
Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The score was officially recorded and sighted on the rating provider's website on December 12, 2025.
💼 Action for Investors
Investors should view this as a positive qualitative development that strengthens the company's appeal to institutional and ESG-focused funds. No immediate portfolio changes are necessary, but it reinforces the long-term stability of the firm.
Aurum PropTech Achieves First Profitable Quarter in Q2 FY26; Revenue Up 30% YoY
Aurum PropTech reported a significant turnaround in Q2 FY26, achieving its first profitable quarter on an adjusted EBITDA basis with a 3% margin. Total income rose 30% YoY to ₹87.66 crores, driven by strong growth in the Distribution (62% YoY) and Rental (25% YoY) segments. The company's EBITDA margin improved to 30%, while PBT margins showed a recovery of 993 bps. Additionally, the company expanded internationally by launching 'Nestr' operations in the UAE during the quarter.
Key Highlights
Total Income grew 30% YoY to ₹87.66 crores from ₹67.61 crores in the previous year.
Achieved first profitable quarter with an Adjusted EBITDA margin of 3% compared to -4% YoY.
Distribution business revenue surged 62% YoY, supported by 1,400+ new licenses in Sell.do and 95,000+ leads in Aurum Analytica.
Rental business grew 25% YoY, with HelloWorld operating 19,102+ beds and NestAway seeing 4x revenue run-rate growth in secondary sales.
EBITDA margin improved by 860 bps to 30% compared to 22% in Q2 FY25.
💼 Action for Investors
Investors should monitor the sustainability of this turnaround and the scaling of the high-growth Distribution segment. The international expansion into the UAE and the upcoming SM-REIT launch are key catalysts to watch for future growth.