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Rentomojo gets Sebi’s approval to float IPO

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Rentomojo gets Sebi's approval to float IPO
Online rental and subscription platform Rentomojo Ltd has received Sebi’s go-ahead for its proposed initial public offering (IPO), an update with the regulator showed on Monday.

The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an Offer for Sale (OFS) of 2.84 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).

The regulator received the company’s draft papers on April 1 and gave its observations on July 6, the update showed.

In Sebi parlance, the issuance of observations implies its approval to float the IPO.

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According to the draft papers, the company proposes to utilise the net proceeds from the fresh issue towards payment of loans, payment of lease rentals or licence fees for warehouses and experience stores, and general corporate purposes.


Rentomojo operates a technology-driven, direct-to-consumer online rental and subscription platform for furniture and home appliances.
As of September 30, 2025, Rentomojo had 2.28 lakh live subscribers across 22 cities, supported by 21 warehouses, with around 4.44 lakh sq ft of warehousing space.It also operates 67 experience stores and has a portfolio of 7,28,773 live products.

For the six months ended September 30, 2025, the company posted revenue from operations of Rs 176.61 crore and a profit after tax of Rs 61.38 crore.

In FY25, revenue from operations stood at Rs 265.96 crore, while profit after tax was Rs 43.11 crore.

Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.

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Henderson Hospitalized With Serious Injury After Falling During Celebration

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Liverpool captain Jordan Henderson was among the players to post about #PlayersTogether

MEXICO CITY — England midfielder Jordan Henderson was taken to a hospital with what manager Thomas Tuchel described as a serious wrist injury after slipping over an advertising hoarding during the team’s postgame celebrations following England’s 3-2 Round of 16 win over co-host Mexico on Sunday night.

The incident occurred after England’s players headed toward their traveling supporters behind one of the goals at Estadio Azteca for the team’s now-traditional postgame rendition of Oasis’ “Wonderwall.” According to multiple reports, Henderson attempted to jump over an advertising board during the celebration and slipped while climbing back toward the pitch, landing awkwardly on his elbow and wrist. Medical staff attended to him on the field, with reports indicating he was given oxygen before being transported to a local medical facility. The 36-year-old was later stretchered off and taken to hospital for further treatment.

Speaking to media after the match, Tuchel confirmed the severity of the injury. “He injured his wrist, he is at the moment in the hospital,” Tuchel said. “It is a quite serious injury. It just doesn’t fit to the evening that Jordan is now not with us. I don’t know the procedure which is going on. I just did the press and the doctor told me he’s in the hospital.” Speaking separately to ITV, Tuchel added, “Not good, not good. Jordan fell over and injured his wrist.”

Tuchel also reflected on the mixed emotions of the night, saying, “It’s a very special night for us. Mixed feelings because I am exhausted and emotional but also sad because Jordan got injured, he injured his wrist and is at the hospital at the moment.” He noted that he had not received a detailed update on the medical procedure Henderson was undergoing at the time of his postgame media availability.

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Henderson remained in Mexico City on Sunday night accompanied by a member of England’s medical staff, while the rest of the squad flew back to the team’s training base in Kansas City, Missouri, ahead of the team’s upcoming quarterfinal match. According to reporting from Goal, medical assessments were expected to continue over the following 24 hours to determine the full extent of the damage to Henderson’s arm and wrist.

The injury came at the end of what was otherwise a historic night for England, which secured a 3-2 win over Mexico to reach the World Cup quarterfinals, marking the best win by an England men’s team on foreign soil in the program’s history, according to ESPN. The match itself was eventful, with Jarell Quansah shown a red card following a VAR review, forcing England to play most of the second half a man down. Jude Bellingham scored twice in a dominant first-half showing, while Harry Kane converted a second-half penalty to help see the Three Lions through to the next round.

Henderson’s involvement in this year’s tournament had already been limited heading into Sunday’s match. The Brentford midfielder made history earlier in the tournament by becoming the first England men’s player to appear at four separate World Cups when he came on as a substitute against Panama during the team’s final group-stage match, a brief six-minute cameo that marked his only playing time of the tournament to that point. Despite his reduced on-field role under Tuchel, Henderson has continued to serve as a senior figure within the squad, with his leadership and experience regarded as valuable components of the team’s dynamic even in a limited playing capacity.

Following the match, England captain Harry Kane offered a brief update on his teammate’s condition, telling reporters that he believed Henderson was going to be okay, though he described the injury as an arm injury without providing further specifics at the time. Kane’s comments came shortly after his own second-half penalty helped secure England’s win, extending his tournament tally as he continues to push for the World Cup’s Golden Boot award.

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Teammate Jude Bellingham, who scored twice in the win, addressed the broader mood of the squad following the match, saying, “We’ve done something incredible tonight, no doubt about it, and we’ll enjoy it. And we’ll sing songs until we lose our voices on the plane and whatnot, but we’ll have a couple of days recovering, then it’s straight back to business in terms of facing Norway.”

England is scheduled to face Norway in the World Cup quarterfinals on Saturday in Miami Gardens, Florida, a matchup set up after Norway eliminated five-time champion Brazil in a stunning 2-1 upset earlier the same day, led by a brace from striker Erling Haaland. Henderson’s injury adds an element of uncertainty to England’s preparations for that match, with the team’s medical staff continuing to evaluate his condition in the days leading up to the quarterfinal.

As of the latest available reporting, England had not issued a formal statement on Henderson’s specific diagnosis, prognosis, or expected recovery timeline beyond Tuchel’s initial comments describing the injury as serious. The team’s coaching staff and medical personnel were expected to provide further updates on his status as the squad continues preparations in Kansas City ahead of traveling to Florida for Saturday’s quarterfinal.

The injury has cast a shadow over what was otherwise one of the most celebrated victories of England’s tournament so far, with players and staff processing what Tuchel described as a mix of exhaustion, emotion and concern in the immediate aftermath of the win. Henderson’s status for the remainder of the tournament remains unclear, and it is not yet known whether the injury will require surgery or an extended recovery period that could rule him out for the rest of England’s World Cup campaign.

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North and South deals for PE-backed fire and security business Ranger as it buys CIA and AKD

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Business Live

Gloucestershire and Cumbria firms among Ranger’s 25 brands

Ranger Fire and Security has acquired CIA Fire and Security in Cirencester

Ranger Fire and Security has acquired Gloucestershire group CIA Fire and Security(Image: Ranger Fire and Security)

A private equity-backed fire and security business has made two more acquisitions and now has more than 25 firms under its umbrella.

Ranger Fire and Security has been buying “local hero” businesses across the UK to become a nationwide fire and security group.

It has now acquired Cirencester’s CIA Fire and Security and its three businesses to strengthen its Southern operations. Meanwhile, the group has boosted its Northern business with the takeover of AKD Fire and Security in Cumbria.

Ranger and its acquisition strategy are backed by mid-market firm Inflexion and by Hyperion Equity Partners, which has made a “significant reinvestment” in the group. The latest deals mean the Ranger group includes 25 businesses and has more than 500 employees as it aims to become “the leading one-stop provider for fire and security services across the UK and Ireland”.

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CIA Fire and Security includes three businesses – CIA, PFS, and Pioneer Automated Controls – all of which will join Ranger along with their 80 staff.

CIA was founded in 1982 to offer services including fire alarms, intruder alarms, CCTV, extinguishers and keyholding. It went on to acquire fire and security maintenance led business PFS, and Gloucester-based fire and security maintenance firm Pioneer Automated Controls.

Matthew Harrison, managing director of CIA Fire and Security said: “Becoming part of the Ranger Group marks a significant moment for our team, enabling us to extend our services to new customers across the local region and beyond.

“Working alongside Ranger’s group of industry experts will give us a greater opportunity to cross-sell and we look forward to bringing our own experience and skill set to the Group, including strengthening the business’s service delivery and expanding their fire and security offering.”

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Cumbria fire and security specialist AKD has a customer base spanning commercial, hospitality, public sector and residential property. Ranger says the group strengthens its North West operations, “bridging the gap between its North West hub, Syncro, and its Scottish hub, Secureshield, in Motherwell”.

Mark Bridges, CEO of Ranger Fire and Security, said: “Our two latest acquisitions, CIA Fire and Security and AKD Fire and Security, bring decades of industry experience to the Ranger Group and will help extend our presence across the North West and South of England. With existing Ranger businesses already well-established in both regions, our two new companies will be able to bring their experience and knowledge to the team, helping Ranger meet more of the fire and security needs of local businesses.

“With backing from Inflexion we will continue to step up our acquisition strategy, bringing on board the UK and Ireland’s best fire and security experts to fulfil our mission of becoming the one-stop shop for all customer’s fire and security needs.”

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Greece stocks higher at close of trade; Athens General Composite up 0.91%

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Greece stocks higher at close of trade; Athens General Composite up 0.91%

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Delek US Energy stock hits 52-week high at 54.2 USD

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Delek US Energy stock hits 52-week high at 54.2 USD

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Analysis: Exposure therapy puts WA on notice

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Analysis: Exposure therapy puts WA on notice

ANALYSIS: Few places in the world have benefited more from their natural resource endowment. But prosperity also creates exposure.

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SpaceX Nears Historic Nasdaq-100 Debut Tuesday as Investors Weigh Post-IPO Valuation Questions

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Elon Musk has stepped back from his job of cutting government spending by firing civil servants and gutting or closing departments

Shares of Space Exploration Technologies Corp. continued to trade higher Monday morning as investors positioned ahead of the company’s addition to the Nasdaq-100 index, a milestone scheduled to take effect before markets open Tuesday and one that will mark the fastest index inclusion in the benchmark’s history.

SPCX shares stood at $163.79, up $1.79, or 1.10 percent, as of 10:19 a.m. Eastern time, according to Google Finance data. The move comes just 15 trading days after SpaceX’s initial public offering, which priced shares at $135 on June 12 and raised between roughly $75 billion and $85.7 billion, depending on the reporting source, making it the largest IPO in market history and valuing the company at approximately $1.77 trillion at the time of its debut.

SpaceX’s rapid path to inclusion in the Nasdaq-100 was made possible by a relatively new exchange rule that fast-tracks large initial public offerings into the index after just 15 trading days, a significant reduction from the longer waiting period previously required of newly listed companies. Nasdaq confirmed the inclusion on June 27, setting the stage for the company’s shares to become part of a benchmark that underpins more than $800 billion in tracked assets, including the widely held Invesco QQQ Trust and numerous retirement and 401(k) funds.

The stock’s performance since its debut has been volatile. Shares initially surged to an intraday high of $225.64 in the days following the IPO before retreating sharply, falling as much as 28 percent from that peak. Last week alone, SPCX shares dropped 16.4 percent after analysts at KeyBanc adopted a more cautious stance, arguing that the stock’s valuation had become increasingly stretched following its post-IPO rally. Shares closed Friday at $153.23, just above the IPO price, before climbing again in Monday’s trading session.

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Analysts have offered a range of estimates for how much buying activity the Nasdaq-100 inclusion could generate as passive funds adjust their portfolios to reflect the index’s updated composition. Some projections suggest the Invesco QQQ Trust alone could purchase as much as $4.3 billion worth of SpaceX shares, while broader estimates across Nasdaq-100 and Russell index-tracking funds have ranged from approximately $7.3 billion to as much as $27 billion. That wave of anticipated demand is notable given how limited SpaceX’s public float remains: the company has roughly 13 billion shares outstanding, but only an estimated 3 to 5 percent are currently available for public trading, with Musk’s approximately 42 percent ownership stake locked up until June 2027.

That tight supply-demand dynamic is expected to persist for some time. According to reporting from TradingKey, SpaceX insiders are not expected to become eligible to sell meaningful portions of their holdings until around August 6, when the company is scheduled to report its first quarterly earnings as a public company. At that point, insiders could sell up to 20 percent of their holdings, with an additional 10 percent becoming saleable if shares trade at least 30 percent above the $135 IPO price for five of any 10 consecutive trading days. The remainder of locked shares are set to become available on a staggered basis through December 2026.

Some market analysts have cautioned against assuming the Nasdaq-100 inclusion will necessarily provide a sustained boost to the stock. Historical examples cited by market observers include Palantir and Strategy, both of which joined the index in December 2024 and saw their share prices peak around or shortly before their respective inclusion dates, with Strategy shares later falling roughly 80 percent from their peak in the months that followed. Given SpaceX’s own sharp post-IPO volatility, some analysts have suggested the stock could face similar pressure once the immediate index-driven buying subsides.

Beyond the technical dynamics surrounding the index addition, attention has also turned to SpaceX’s broader corporate strategy. Following the completion of the IPO, analysts at Baird said they believed investor focus could increasingly shift toward the possibility of a merger between SpaceX and Tesla, the electric vehicle maker also led by Musk. “We see the strategic rationale for a merger as clear and compelling with both companies benefitting from greater scale,” the firm wrote in a note, adding that it did not anticipate significant regulatory scrutiny given the limited overlap between the companies’ respective end markets. Baird noted that the timing of any such transaction remained difficult to predict, suggesting a period of integration was more likely in the near term as SpaceX works to absorb its recent merger with Musk’s artificial intelligence company, xAI, while also adjusting to its new status as a publicly traded company.

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That merger with xAI, completed earlier this year, has reshaped SpaceX’s underlying business structure into three primary segments. The Connectivity division, anchored by the Starlink satellite internet business, generated roughly 61 percent of the company’s total revenue in 2025. The Space segment includes the company’s Falcon 9 and Starship launch operations, while the newly integrated AI division encompasses the Grok large language model, the X social media platform, and broader AI computing infrastructure. Starlink’s subscriber base has continued to expand rapidly, surpassing 10 million subscribers globally, more than double the 5.5 million subscribers the service had at the time of SpaceX’s June IPO.

Financially, SpaceX reported $4.7 billion in revenue during the first quarter of 2026 and disclosed cash and cash equivalents of approximately $100.8 billion as of June 19, following a senior unsecured notes offering used in part to repay bridge financing tied to earlier stages of the company’s growth. Even so, some valuation metrics have raised concerns among analysts, with the stock’s price-to-sales ratio estimated at various points between roughly 79 and 112 times trailing sales, a level that remains elevated even compared with other high-growth technology companies.

With Tuesday’s Nasdaq-100 inclusion set to bring SpaceX into the portfolios of millions of index-fund investors who never directly chose to own the stock, market attention in the coming weeks is expected to focus on how the company’s limited public float absorbs the anticipated wave of passive buying, as well as on SpaceX’s first earnings report as a public company, expected in early August, which analysts have identified as the next significant test of the stock’s long-term valuation and growth trajectory following one of the most closely watched public debuts in recent market history.

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New tech take on real estate

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New tech take on real estate

A technology-backed disruptor is making headway in real estate with a different agency model and fee structure.

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WAPC flags planning controls for Parliament House precinct

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WAPC flags planning controls for Parliament House precinct

The state’s peak planning body aims to replace a policy from the 1980s, to set new limitations for developments in the Parliament House precinct.

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Vedanta Oil & Gas, Vedanta Iron & Steel, Vedanta Power shares crash up to 8% post Q1 updates; Vedanta Aluminium rises

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Vedanta Oil & Gas, Vedanta Iron & Steel, Vedanta Power shares crash up to 8% post Q1 updates; Vedanta Aluminium rises
The shares of Vedanta Oil & Gas, Vedanta Iron & Steel, and Vedanta Power crashed up to 8% on Monday after the respective Q1 updates from the recently listed companies failed to impress Dalal Street bulls.

Vedanta Aluminium Metal shares, however, gained over 1% on Monday morning. The four companies that were spun out of Vedanta earlier this year following the mega demerger released their Q1 business updates after market hours on Friday.

Vedanta Oil & Gas Q1 update

Vedanta Oil & Gas shares crashed more than 8% to trade at Rs 39.3 apiece on the NSE. This came after the company reported a 17% year-on-year (YoY) decline in gross oil and gas production to 7.1 million boe for the April-June quarter of FY27, from 8.5 million boe in the corresponding quarter of the previous financial year. Sequentially, gross output also declined about 4% from 7.3 million boe reported in the fourth quarter of the previous financial year.

Its total working interest, meanwhile, dropped 16% YoY to 4.7 million boe during the quarter under review. Its largest asset in Rajasthan recorded a 15% YoY decline in average daily gross operated production to 63.1 kboepd.

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Vedanta Oil & Gas shares have gained over 20% in one week and 11% since listing. Its market capitalisation currently stands at over Rs 15,434 crore.

Also read: Vedanta among top 5 stocks with lowest price-to-earnings ratio. Check details

Vedanta Iron & Steel Q1 update

After delivering massive returns since listing, Vedanta Iron & Steel shares tumbled around 5% to trade at Rs 38.5 apiece on the NSE on Monday morning. This came after the company reported a 4% YoY rise in saleable iron ore production to 2.6 million DMT in the first quarter of FY27. Sequentially, however, production fell 3% from 2.7 million DMT reported in the fourth quarter of FY26.
Vedanta Iron & Steel’s Karnataka plant saw a 46% YoY drop in saleable iron ore production, while the Goa and Odisha plants recorded 166% and 59% surges in output, respectively. Overall steel production, meanwhile, rose 4% YoY to 582,000 tonnes during the quarter under review.Vedanta Iron & Steel shares have risen around 19% in one week and 84% since listing. The company currently has a market capitalisation of Rs 15,055 crore.

Vedanta Power Q1 update

Vedanta Power shares dropped around 4.5% to trade at Rs 43.67 apiece on the NSE. The company said power sales grew 38% YoY to 5,225 million units in Q1 FY27 from 3,784 million units in Q1 FY26. Sequentially, however, sales fell 6% from 5,530 million units reported in the fourth quarter of FY26.

Power sales at Talwandi Sabo Thermal Plant and Meenakshi Energy grew 14% and 16%, respectively, on a sequential basis in Q1. However, sales at Sakti Thermal Plant and Jharsuguda Thermal Plant declined 57% and 23%, respectively, from the previous quarter.

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The company attributed the decline in power sales at Sakti Thermal Plant to reduced plant availability following a boiler incident on April 14, which significantly impacted operations during the quarter.

Vedanta Power shares have gained over 6% in one week and 7% since listing.

Also read: Vedanta Power shares fall 3% despite 38% jump in Q1 sales. Should you buy, sell or hold?


Vedanta Aluminium Metal Q1 update

Vedanta Aluminium Metal shares gained more than 1% to trade at Rs 467.85 apiece on the NSE. The company reported its highest-ever quarterly aluminium production of 6.32 lakh tonnes in Q1 FY27, marking a 5% YoY and 3% quarter-on-quarter (QoQ) increase. Power sales at BALCO rose 21% YoY to 520 million units during the quarter under review.

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“Progress at the BALCO expansion remains steady, with a measured approach focused on operational stability and efficiency as capacity gradually scales up. The ramp-up is on track for full capacity utilisation by Q4,” the company said.

Vedanta Aluminium Metal, which was listed as the only large-cap company among the four entities last month, has seen its share price rise around 3% over the past week. The stock, however, has declined more than 6% since listing and currently commands a market capitalisation of nearly Rs 1.81 lakh crore.

Also read: Vedanta, TCS among 5 stocks with the highest dividend yield. Check details

(Disclaimer: Recommendations, suggestions, views, and opinions expressed by the experts are their own and do not represent the views of The Economic Times.)

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Trump rings openings bells for NYSE, Nasdaq from White House

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Trump Accounts releases mobile app ahead of July 4 program launch

President Donald Trump on Monday celebrated the launch of Trump Accounts by ringing the opening bells of the New York Stock Exchange and Nasdaq from the White House.

Trump Accounts were created by the One Big Beautiful Bill Act, the package of tax cuts and reforms that Republicans passed through Congress and was signed into law by President Donald Trump last year.

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“This is about the Trump Accounts, which are absolutely incredible for children. Children at the age of 18, and after, become very wealthy people – come into the world with essentially no money and end up at a pretty young age being very rich,” Trump said.

“That’s something that we’ve wanted to do, this country’s wanted to do for 25 years,” the president added.

U.S. President Donald Trump arrives on stage before delivering remarks during the Treasury Department's Trump Accounts Summit at Andrew W. Mellon Auditorium on January 28, 2026 in Washington, DC.

President Donald Trump has touted the Trump Accounts initiative since the passage of the One Big Beautiful Bill Act. (Win McNamee/Getty Images)

The initiative invests the savings in low-cost index funds that provide broad, diversified exposure to the U.S. stock market.

GOLDMAN SACHS TO CONTRIBUTE $1,000 TO TRUMP ACCOUNTS FOR ELIGIBLE CHILDREN OF EMPLOYEES

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Parents and guardians may contribute up to $5,000 per year to the accounts belonging to their children, while a parent’s employer can contribute up to $2,500 annually without impacting the employee’s taxable income.

The accounts will be seeded with $1,000 in federal money to give children born between 2025 and 2028 a jump start on their savings.

Trump Accounts app

The Trump Accounts app will feature eight exclusive financial literacy modules. (U.S. Department of the Treasury / Fox News)

At the time of the official launch of Trump Accounts, there is one investment option available, although the Treasury Department has indicated four more will be available in the months ahead.

The State Street SPDR Portfolio S&P 500 ETF (SPYM), a low-cost exchange-traded fund (ETF) that tracks the performance of the S&P 500 Index, will be the initial default investment option.

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Four other ETFs in the future include two that focus on the total U.S. stock market offered by Vanguard and iShares, along with a State Street ETF focused on the broader S&P 1500, as well as another iShares offering focused on the S&P 500.

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