Business
Snapdeal parent AceVector raises Rs 189 crore from anchors; Negen, Singularity among top investors
Turnaround Opportunities Fund was allotted 62.49 lakh shares worth about Rs 20 crore. Alchemy Long Term Ventures Fund Series 3, Mavira Growth Opportunities Fund and LC Pharos Multi Strategy Fund VCC were each allotted 46.87 lakh shares worth about Rs 15 crore.
Other investors in the anchor book include Helios Mid Cap Fund, Helios Small Cap Fund, Ashika Global Finance, Taurus Ethical Fund, Emerge Capital Opportunities Scheme, Saint Capital Fund, ASAS Global Fund Incorporated VCC Sub Fund and TMF Holdings.
Also Read | Snapdeal IPO: GMP, price band among 10 things to know about AceVector public offer
Out of the total anchor allocation, 93.74 lakh shares, or 15.87% of the anchor investor portion, were allotted to two domestic mutual funds through three schemes. These were Helios Mid Cap Fund, Helios Small Cap Fund and Taurus Ethical Fund. The mutual fund allocation was worth about Rs 30 crore.
The company reported no applications from insurance companies and pension funds, so no allocations were made to them.
AceVector’s IPO will open on Friday, September 25, and close on Tuesday, September 29. The anchor investor bidding opened and closed on September 24.Also Read | Missed the NSE IPO? Here are 5 of the largest issues in the pipeline to keep on your radar
The price band has been fixed at Rs 30-32 per share. Investors can bid for a minimum of 468 shares and in multiples of 468 shares thereafter. At the upper price band, the minimum retail application works out to Rs 14,976.
The public issue comprises a fresh issue of Rs 287 crore and an offer for sale of up to 4,15,62,500 shares by existing shareholders. At the upper price band, the OFS is worth about Rs 133 crore, taking the total issue size to around Rs 420 crore.
The fresh issue proceeds will be used for marketing and business promotion expenses of the company’s marketplace business, technology infrastructure costs, inorganic growth through acquisitions and general corporate purposes.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
Barry Diller’s People Inc. rescinds MGM Resorts takeover offer

Barry Diller’s People Inc. has rescinded its proposal to buy MGM Resorts International, sending shares of the casino giant down roughly 11% on Thursday.
The update comes nearly four months after Diller’s company offered to purchase MGM Resorts for $48.30 per share. People Inc. already owns a roughly 26.1% stake in MGM.
Diller, chairman of People Inc. — formerly known as IAC — attributed the decision to the complicated nature of the deal.
“There are lots of ingredients that go into a proposal of this kind on its way to completion,” Diller said in the press release. “We didn’t feel the mix was coming together in the way we had hoped and have decided not to pursue taking the company private at this time.”
CNBC’s David Faber reported Thursday that Diller backed off the deal in part because of the significant debt load it would have created for the company.
Still, Diller said he is willing to consider a future deal.
“We at People Incorporated remain open to and interested in the possibility of a strategic transaction with MGM Resorts and look forward to considering a range of alternatives,” he said in the release.
Earlier this week, shareholders of Caesars Entertainment approved an offer from billionaire Tilman Fertitta to acquire the casino company for $17.6 billion. Caesars shareholders will receive $31 per share in cash.
— CNBC’s Contessa Brewer contributed to this report.
Business
NexPoint Diversified Real Estate Trust (NXDT) Discusses Real Estate Market Trends, Portfolio Updates, and Strategies to Narrow NAV Discount – Slideshow
NexPoint Diversified Real Estate Trust (NXDT) Discusses Real Estate Market Trends, Portfolio Updates, and Strategies to Narrow NAV Discount – Slideshow
Business
Cat ownership and food sales rise while dog demand falls
Cat owners are spending on their feline friends in a bright spot for pet food makers and sellers.
Though consumers are watching their wallets as the prices of fuel and groceries rise, sales for cat food and other cat-related products are climbing, according to sellers of those products. General Mills, Chewy and Petco Health and Wellness Co. all called out the segment as a strength in their businesses during their most recent quarterly earnings calls.
Sales of dog products, on the other hand, continue to soften. The rise in sales of cat items comes as the American Pet Products Association found a 5% increase in cat ownership in 2025, with an estimated 53 million households having cats. The modest rise last year came after cat ownership surged 23% in 2024.
Factors driving the increase in cat ownership could include the ease and affordability of care relative to dogs, along with their ability to live in smaller enclosed spaces like apartments, according to executives in the space.
General Mills on Wednesday reported double-digit percentage growth in cat food sales, which includes the brand Tiki Cat. At the same time, sales of dog food fell by a high-single-digit percentage. Those contrasting trends led in part to General Mills’ North American pet segment posting net sales that were roughly in line with the year-ago period.
CEO Jeff Harmening said on an earnings call on Wednesday that the sales trend was related to the fact that Americans are adopting more cats and fewer dogs.
Chief Operating Officer Dana McNabb said, however, that struggles in the company’s dog food business could not be blamed entirely on trends in pet ownership.
“We really have to relook at the entire proposition of the product, the packaging, the marketing, the communication, we have work to do,” she said. “And we had the same challenge on our cat Tastefuls business a few years ago, and it took us about 18 to 24 months to improve it, and that business is back to growth now.”
Other pet retail companies have called out similar trends in cat and dog products.
On a Sept. 9 earnings call, Chewy CEO Sumit Singh said of the company’s pet segments: “dog seems to be worsening; cat seems to be strengthening.”
Petco reported strong sales of cat products in its second quarter, highlighting the launch of its cat treat brand Candy Shop on a Sept. 2 earnings call.
“In the second quarter, we introduced new high-impact brands that resonate strongly with cat parents, generating nice gains across consumables, supplements, bedding and furniture,” CEO Joel D. Anderson said on the company’s earnings call.
Anderson said that the company’s second-quarter growth came after the company focused on improving its cat segment based on industry trends.
“The dog business is still soft. Adoptions are down slightly,” Anderson said. “It just shows for you why it’s so important to be diversified. And with us having great trends in cat, really growing companion animal, our services business is growing. We’ve got a lot of diversification to not rely solely on dog.”
Business
Lowe’s unveils drone deliveries for home improvement needs in North Carolina
Founder ETF founder and portfolio manager Michael Monaghan discusses the market rally, Meta’s new AI agent Muse, data center demand and the broader AI investment landscape on ‘Making Money.’
Lowe’s announced Thursday that it is rolling out a drone delivery pilot in North Carolina, saying it is the first home improvement retailer to offer shoppers the service.
The pilot is now live at a Lowe’s store in Matthews, North Carolina, where eligible customers can order select products through the DoorDash app for delivery by Alphabet-owned Wing drones in as little as 20 minutes, according to an announcement from the company.
“At Lowe’s, our mission is to solve problems and fulfill dreams for the home,” Seemantini Godbole, chief information and AI officer at Lowe’s, said in a statement.
“To achieve this mission, we’re removing friction from home improvement and making it easier for customers to enjoy their home. Any technology we implement is designed to eliminate that friction so our customers can complete their projects quickly.”
LOWE’S LAUNCHES MAJOR EFFORT TO HELP CLOSE AMERICA’S SKILLED TRADES GAP

The pilot is now live at a Lowe’s store in Matthews, North Carolina. (Nell Redmond/AP Content Services for Lowe’s Companies, Inc.)
The service expands Lowe’s same-day fulfillment options, which already include buy online, pick up in store, curbside pickup and same-day delivery.
The initial rollout focuses on lightweight items that the company said are often “easily forgotten yet critical to finishing any home improvement task.”
These include items like hand tools, paint products, soap, tape, batteries and all-purpose cleaner.
Wing drones can currently carry orders weighing about 2.5 pounds.
LOWE’S CEO WARNS AI CAN’T CLIMB A LADDER AS COMPANY MAKES $250M BET ON BLUE-COLLAR FUTURE

Wing drones can currently carry orders weighing about 2.5 pounds. (Nell Redmond/AP Content Services for Lowe’s Companies, Inc.)
Customers within the eligible delivery area will automatically see a drone delivery option in the DoorDash app, where they can shop through the dedicated “Lowe’s by Drone” storefront and place qualifying orders.
The pilot builds on Wing and DoorDash’s existing drone delivery network in the Charlotte area and is part of Lowe’s broader effort to use technology to improve the shopping experience.
The company said its AI-powered tools, including the Mylow customer assistant and Mylow Companion for store associates, have answered more than 25 million questions since launching last year.
LOWE’S CELEBRATES MESSI’S LAST WORLD CUP WITH A TOWERING 10-FOOT TRIBUTE

The initial rollout focuses on lightweight items that the company said are often “easily forgotten yet critical to finishing any home improvement task.” (Nell Redmond/AP Content Services for Lowe’s Companies, Inc.)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“By piloting drone delivery, we’re addressing a real project pain point with an innovative solution that is integrated into the retail journey, giving our hometown customers next-generation fulfillment right when they need it,” Godbole said.
Business
US Federal Reserve’s Anna Paulson sees scope for more interest rate hikes amid inflation risks
Inflation “remains stubbornly elevated,” Paulson said in remarks at a regional Fed bank event. “Returning inflation to 2% is a top priority, and I will support the policy path that gets us there while carefully weighing risks to the labour market along the way.”
Paulson, who is also a voting member of the rate-setting Federal Open Market Committee, indicated that additional tightening could be appropriate. “Looking ahead, if conditions evolve as I expect, some modest further tightening may be warranted” to bring inflation back to the desired level, she said.
These comments were the first since the Fed raised its benchmark overnight interest rate by a quarter-percentage point last week, taking it to a range of 3.75%-4.00% as part of its effort to curb inflation.
Paulson added that she further supported the increase, noting that “the balance of risks had shifted” ahead of last week’s meeting and that “underlying inflation showed little to no progress.”
Policymakers’ projections released after the meeting indicated one additional rate increase before the end of the year, although futures markets are pricing in significantly more hikes.
The Fed is seeking to control inflation as several factors continue to exert pressure, including President Donald Trump’s import tariffs and surging energy prices stemming from the US-Israeli war with Iran, Reuters reported.Paulson said robust investment in the technology sector was also contributing to inflationary pressure.
“Underlying inflation is running in a range of about 2.5 to 3%” and “the best I can say about underlying inflation this year is that it hasn’t gotten worse,” she said.
Paulson characterised the US economy as relatively strong.
“I see a resilient economy that is showing some signs of increased momentum,” she said. “Despite shocks from tariffs and the conflict in the Middle East, recent consumption growth has been strong, the AI buildout is driving investment, and the labour market is stable.”
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
Business
DPG: My Top Infrastructure Pick
DPG: My Top Infrastructure Pick
Business
Sensient Flavors & Extracts launches fermentation technologies
Business
How LED Lighting Can Improve Efficiency and Performance in UK Commercial Buildings
However, proper lighting not only influences how the working environment feels but also determines safety for movement around a building and the amount of energy consumption that goes on in the course of daily business operations. This means that for contractors, architects, facilities managers and property owners, selecting proper LED solutions cannot simply boil down to a mere replacement of bulbs.
Why LED Lighting Makes Sense for Commercial Spaces
Lighting efficiency is of paramount importance in commercial structures due to the long period of operation during the day in many cases. The offices may be kept lit all through the workday; warehouse, shop, factory or hotel lighting may need much more time.
LED lights are common in these facilities since it offers both energy-efficient solutions, as well as good durability and constant illumination. It may come handy in situations when the reduction of energy use and maintenance becomes a priority of the project.
The advantages may include:
- Lower electrical energy consumption in comparison with other less efficient lighting solutions
- Higher longevity and reduced need for replacements
- Constant illumination of large workspaces
- Wide range of different light colour temperature, beam angle and types of lamps
- Better flexibility in installation and redesign works
It should be noted that the results vary depending on the lighting products used, operational time, controls and existing lighting system, so the correct analysis would be more helpful than just relying on every LED upgrade bringing the same benefits.
Choosing Lighting According to the Building
LED light fittings come in various forms and sizes, and none of them is equally suitable in every setting. A warehouse, an office, a restaurant and a car park will require different solutions.
For instance, high-bay lights could work well in the case of high ceiling buildings, while LED panels could be effective in office settings due to their wide and evenly spread illumination. LED battens could work well in utility rooms, workshops and similar facilities, while linear or track lights could be used in certain instances.
In regard to the comparison of the products of the commercial enterprise, cooperation with a competent LED lighting supplier in the UK will help both the contractors and the project team consider such factors as specifications of the products, applications, installation, and availability.
What Electrical Contractors Need to Consider
For an electrical contractor, the selection of light fittings is just the beginning. Factors like installation environment, compatibility, accessibility, control, and maintenance have to be taken into account before products are selected.
Some of the considerations that can prove helpful include:
- Power rating and power usage
- Lumens emitted and beam spread
- Color temperature and color rendering
- Size and mounting options
- Driver requirements and compatibility
- Requirement of emergency lighting, if any
- Environment conditions and ingress protection
- Future availability of replacement products
This will help avoid issues later on in the project as a light fitting that seems right on paper may not be so when the height of the ceiling, environmental conditions, and end-use of the room come into account.
Lighting Design Is About More Than Brightness
An all-too-common error made when evaluating a commercial lighting system is in measuring its effectiveness on the basis of how bright the system is. Brightness can cause discomfort in a person’s eye, while lack of adequate or evenly distributed light can make work difficult.
In lighting design, there needs to be consideration of where the light is required and how the lighting interacts with the activities taking place in that area. In an office setting, this might entail ensuring that there is adequate and comfortable lighting in the area where employees’ work stations are situated, without causing any distracting glares. Lighting in a retail setting needs to take into account the combination of general lighting and accent lighting to focus on products.
Lighting is one of the aspects architects and interior designers take into account in the aesthetics of the space.
Energy Efficiency Starts With the Whole System
Changing regular fixtures to LEDs will decrease energy consumption, however the best result might be achieved by looking into the whole lighting system. The controls, occupancy and the amount of daylight will affect the electricity usage.
The sensors, timers, dimming and zoning will allow for using the lights at the right time and place. If the business building has several operating spaces, the individual control will help to avoid wasting electricity as only the parts of the floor or the whole building are occupied.
It is especially true for the cases of renovation. Before the change of fixtures, it will be possible to assess the current situation and determine the places of excess consumption and old equipment with frequent repairs.
Working With a Suitable Lighting Supplier
For contractors and project teams, supplier assistance can be useful where a project is to involve multiple kinds of fittings or unusual installation requirements. An informed supplier with trade and commercial experience will assist in selecting products according to technical specifications, rather than always suggesting the obvious choice.
Ledex Lighting UK supplies electrical contractors, property developers, facilities management, interior designers and fit-out contractors. Ledex also offers specification services for commercial and industrial projects, as well as a trade portal and project assistance as part of its present trade range.
Another practical issue that arises with large projects is the availability of products. A delay in the supply of lights may impact other trades as well. It makes sense, therefore, to verify the availability of products before finalising the specification.
Conclusion
LED lighting has become increasingly crucial within the modern-day design of commercial buildings. However, proper selection of lighting products demands more than merely selecting energy-efficient fittings. It is essential to consider many factors, including the function of the building, ceiling height, work environment, visual demands, maintenance and control needs.
For any business in the United Kingdom, effective planning of an LED lighting installation system can help in achieving efficient lighting, reduced energy consumption and simplified maintenance. For example, a project may be concerned with either a new commercial building, office refurbishment, warehouse upgrading or retail store fit out among other options.
Business
Afya Limited (AFYA) M&A Call Transcript
Operator
Good morning, ladies and gentlemen. Welcome to the video conference of Yduqs on the merger between Yduqs and Afya. This video conference is being recorded, and the replay can be accessed at the company’s website at www.yduqs.com.br. The presentation with the slides is available for download also on the company’s website.
This presentation has been prepared in connection with the business combination, the transaction involving Yduqs and Afya, and may contain statements and information that express forward-looking statements, assumptions or projections about future results or events. Such information includes outlook for combined business, operating and financial results as well as statements regarding the growth prospects of both companies and the combined entity resulting from the transaction.
The combined company information considers the 2Q ’26 metrics of both companies as available in their financial statements. These forward-looking statements and information do not constitute a guarantee of future performance because they are subject to risks, uncertainties and factors related to the operations and business environment of these companies. They depend substantially on external factors such as market conditions, the performance of the Brazilian company, macroeconomic variables, the industry or the companies operate in international markets, and all of them are subject to change without notice.
Business
Pay gap report reveals Indigenous disparity in white collar jobs
Indigenous workers in white collar jobs are paid on average 20 per cent less than their non-Indigenous colleagues, according to a new report.
-
Fashion6 days agoWeekend Open Thread: Talbots – Corporette.com
-
Tech4 days agoResearchers escape OpenAI Codex sandbox to run commands on host
-
Crypto World2 days agoGoldman Sachs and Deutsche Bank Agree: The S&P 500 Rally Isn't Over
-
Crypto World4 days agoWho Needs CLARITY Anyway? ARB Could See 70X Increase: Hodler’s Digest
-
Crypto World6 days agoCircle launches Arc Studio AI agent for building onchain apps
-
Crypto World7 days agoMortgage and refinance interest rates today, Thursday, September 17, 2026
-
NewsBeat6 days agoTrump says US has reached an agreement to take permanent control of Greenland’s security
-
Fashion9 hours ago8 iPhone Accessories That Add Personality
-
Crypto World6 days agoTrading Bitcoin on Robinhood? Why 2% Spread Has Traders Worried
-
Crypto World6 days agoBitcoin price breaks channel as RSI climbs to 63
-
Business4 days agoAnalog Devices (ADI) Bets $1.35 Billion on Chips that Let Machines Think for Themselves
-
Tech3 days agoGoogle’s $899 Googlebook is a bet that you’ll buy a new laptop for Gemini
-
Crypto World4 days agoCoinbase, Robinhood, Circle Seen as Tokenized-Stock Winners
-
Tech5 days agoTrump suggests rebranding AI with a new name, says he’s also creating an AI Force
-
Business2 days agoOil Price Today (September 23): Crude oil below $100 on hopes of US-Iran talks. What did Trump say?
-
Tech7 days agoGPT-6 Astra Reached the Nether in Minecraft, Lost Its Stash to a Creeper, and Farmed Potatoes for Hours
-
Crypto World6 days agoWorld Money launches in 150+ countries with Stripe
-
Crypto World6 days agoSilver prices recover quickly, hitting weekly high today
-
Crypto World21 hours agoBitcoin Threatens Sub-$84,000 Breakdown as Long Liquidations Spike
-
Crypto World2 days agoTrump-Xi Polymarket Odds for Handshake Hit 50%

You must be logged in to post a comment Login