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Railway components maker Pioneer Fil-Med Ltd has filed draft papers with the markets regulator Sebi to raise Rs 500 crore through an Initial Public Offering (IPO). The proposed issue comprises a fresh issue of equity shares aggregating Rs 250 crore and an Offer For Sale (OFS) of shares worth Rs 250 crore by existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Sunday. The OFS includes stake sales by promoter Pioneer Facor IT Infradevelopers and promoter group entity Aztech India, each proposing to offload shares worth up to Rs 125 crore. The company proposes to utilise the proceeds from the fresh issue towards part financing the cost of establishing a gear box manufacturing facility and a wind generator components manufacturing facility, both at Salarpur in Bhiwadi, Rajasthan, as well as for general corporate purposes. Additionally, the listing of its equity shares on the stock exchanges is expected to enhance the company's brand visibility and provid
As the number of retail investors surges, Sebi Chairman Tuhin Kanta Pandey said the regulator is intensifying surveillance and technology-driven enforcement to curb rising pre-investment scams that divert funds before investors even interact with registered intermediaries. Pandey, whocompleted one year at the helm of the regulator on March 1, noted that many new and intending investors are being misled by fake trading apps, WhatsApp groups and promises of high returns, often diverting funds to personal accounts of fraudsters long before any engagement with Sebi-regulated intermediaries. He stressed that investor caution must evolve beyond mere awareness to informed action, especially given the country's expanding retail base. Responding to a query on pre-investment frauds, Pandey said many individuals intending to enter the markets are being "hijacked by scamsters" even before they reach a Sebi-registered intermediary. "Someone who is intending to come is actually being trapped by
IPO-bound OYO's parent entity PRISM on Wednesday announced the appointment of former SEBI Chairman Ajay Tyagi as an Independent Director on its Board. His appointment comes as PRISM aims to further strengthen its board and governance framework as it strives to grow and access the public markets. "Tyagi joins an experienced board with expertise across governance, consumer businesses, technology and strategic investments," OYO said in a statement. The board comprises Independent Directors, including William Steve Albrecht, the Dr Jay H Price/Arthur Andersen Endowed Professor of Accountancy at Utah State University; Troy Matthew Alstead, former CFO and group president of Starbucks Corporation; Deepa Malik, Padma Shri awardee; Bejul Somaia, partner at Lightspeed Venture Partners; Sumer Juneja, Non-Executive Nominee Director and Managing Partner at Softbank Investment Advisers; and Aditya Ghosh, Non-Executive Nominee Director and Co-Founder of Akasa Air. Ritesh Agarwal, Founder, PRISM .
Amid the Galgotias University controversy, Sebi's executive director Sunil Kadam on Saturday asked the market ecosystem to desist from "copying" others, and innovate by themselves. "'... India should not be kind of copying things like which we have experienced in the global (AI Impact) Summit (where) somebody has short projected the Chinese product as our product. We should not be in that way. We should be doing our own innovation," Kadam said at an event organised by the brokers' body ANMI here. Kadam said India has to funnel more money into research and development so that such instances are avoided, and exuded confidence that India has the capabilities to be a leader in innovation. The remarks come days after a controversy at the India AI Impact Summit 2026, where the private university ended up showing a robo dog manufactured by a Chinese company as its own innovation, leading to widespread concerns over a lot of aspects. Kadam said AI is set to change business models and the .