Safex Chemicals (India) Ltd., a leading player in the specialty chemicals and agrochemicals space, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), seeking approval for an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs. 450 crore and an offer-for-sale (OFS) of over 3.57 crore shares by existing stakeholders, including promoters and private equity firm ChrysCapital. The proceeds from the fresh issue will primarily be used to reduce debt and support general corporate needs.

In a decisive move toward sustainable development, the Himachal Pradesh government is intensifying efforts to promote electric mobility and combat climate change. Chief Minister Sukhvinder Singh Sukhu recently flagged off 20 electric taxis under the Rajiv Gandhi Swarozgar Start-up Yojana (RGSSY), reinforcing the state’s dual focus on environmental protection and youth employment. The initiative offers a 50% subsidy to eligible applicants for the purchase of e-taxis, with Rs. 4.22 crore already disbursed to 59 beneficiaries.

Whiteland Corporation, a rising player in India's premium real estate sector, has announced a major investment initiative in Gurugram with plans to develop a luxury residential project along the Dwarka Expressway. The company has awarded construction contracts worth Rs. 2,000 crore to leading firms Ahluwalia Contracts and Kalpataru Projects. The 20-acre development will include approximately 1,700 high-end apartments, with prices starting at Rs. 6.5 crore.

A recent study highlights a significant shift in India’s micro, small, and medium enterprises (MSMEs) toward digital financial tools, with Unified Payments Interface (UPI) and Aadhaar-enabled banking emerging as the leading transaction methods. Conducted by PayNearby, the nationwide survey involving 10,000 participants revealed that nearly half of the MSMEs now prefer UPI for business transactions, while Aadhaar-based banking has gained notable traction, especially among women entrepreneurs.

In a candid reflection on the dynamics of India’s stock markets, banking veteran Uday Kotak recently underscored the undue influence of financial clout on investor success, emphasizing the market’s foundational roles of capital formation and fair price discovery. His remarks coincided with a significant regulatory crackdown by the Securities and Exchange Board of India (SEBI), which uncovered and penalized New York-based hedge fund Jan Street for manipulating market indices, seizing over Rs. 4,843 crore in illicit gains.

UltraTech Cement, India’s largest cement producer, has officially denied being under investigation by the Competition Commission of India (CCI) concerning alleged cartelization in tenders floated by state-owned oil giant ONGC. While UltraTech’s recently acquired subsidiary, India Cements Ltd (ICEM), remains embroiled in the probe, the parent company clarified that no orders or financial scrutiny have been directed at UltraTech itself. The CCI’s inquiry, initiated following a complaint by ONGC, is centered on alleged collusive practices among multiple cement firms.

The Odisha government has reversed its earlier decision to delist HDFC Bank, ICICI Bank, and Axis Bank from the roster of empanelled banks authorized to handle state government business. The initial removal, executed on June 21, was based on underperformance in managing state-run schemes and banking metrics such as priority sector lending and credit-to-deposit ratios. Following a constructive meeting between bank officials and Chief Minister Mohan Majhi on July 1, the banks provided written commitments to enhance their performance.

India has achieved significant strides in reducing income inequality and extreme poverty between 2011-12 and 2022-23, emerging as the fourth-most equal country globally, according to recent World Bank data. The country’s Gini Index—a key measure of income distribution—has declined from 28.8 to 25.5 during this period, reflecting a substantial narrowing of wealth disparities. This progress is accompanied by a dramatic reduction in extreme poverty, from 16.2% to 2.3%, lifting nearly 171 million people out of deprivation.

In a strong affirmation of regulatory integrity, SEBI Chairman Tuhin Kanta Pandey declared that market manipulation will not be tolerated under any circumstances. Speaking just a day after SEBI issued an interim order against U.S.-based hedge fund Jane Street, Pandey emphasized heightened market surveillance and reinforced the watchdog’s zero-tolerance stance. His remarks, delivered at a chartered accountants’ forum in Mumbai, reflect SEBI’s growing vigilance amid concerns about possible irregularities by foreign portfolio investors.

Maruti Suzuki, India’s largest automobile manufacturer, has introduced substantial consumer benefits across its Arena portfolio this July, offering discounts of up to Rs. 1.10 lakh on select models. Both petrol and CNG variants are part of the promotional campaign, which includes cash discounts, exchange bonuses, and rural sales incentives. The Swift AMT leads the pack with the highest discount, while popular models like the Alto K10, Wagon R, and Celerio also receive generous offers.