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EquityPandit

EquityPandit
BUSINESSIPO

Reddit Files For US IPO

Reddit declared that it has filed for an Initial Public Offering (IPO) with the United States Securities and Exchange Commission. Reddit is known for its message panels that is the go-to destination for day traders during the meme stock frenzy. Reddit is expecting a valuation of over $15 billion, media reports said.


The platform had retail investors heading towards its message boards for tips on trading the GameStop stocks and other meme stocks. Reddit had nearly 52 million daily active users and more than 1 lakh communities or subreddits as of October last year. Reddit had also reported a $100 million advertising revenue in the same period the previous year. The firm did not disclose the shares to be offered and the price range of the IPO in the draft registration statement.

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BUSINESS

Ashok Leyland Invests Rs 500 Crore in Subsidiary 

Ali Waghbakriwala

Hinduja Group’s commercial vehicle manufacturer, Ashok Leyland, has completed an investment of GBP 45 million (approximately Rs 500 crore) into its UK subsidiary, Optare Plc, which is the holding company of Switch Mobility. This transaction increased Ashok Leyland’s stake in the Yorkshire-based bus manufacturer by 0.41%, bringing its total ownership to 93%. The company informed stock exchanges on 2 April.

In its filing, the company said that the Board of Directors of Optare Plc, at their meeting on 1 April 2025, approved the allotment of 64,963,55,352 ordinary shares of £0.001 each at an issue price of £0.006927 per share (including a premium of £0.005927 per share) to the company.

Previously, Ashok Leyland had announced its intention to invest Rs 500 crore into Optare to meet capital expenditure requirements. Optare serves as the parent entity for both Switch UK and Switch India, with a portion of the investment expected to be allocated to the Indian arm.

Shenu Agarwal, Managing Director and CEO of Ashok Leyland, said that as this investment is directed into Optare, part of it will be utilized by Switch UK, while some may flow into Switch India for capex needs. The funds are intended to reduce Switch UK’s interest burden and support its capital expansion plans.

Switch UK has been grappling with low sales volumes, leading to revenue fluctuations. In response, Ashok Leyland recently announced the closure of one of its manufacturing and assembly operations at the Sherburn facility in the UK.

According to Agarwal, inconsistent order inflow is a major challenge for Switch UK, causing periods of both underutilization and overcapacity at its factory.

As of February 2025, electric buses, including battery-electric and plug-in hybrid models, account for 15.9% of new bus sales in the European Union, while diesel-powered buses dominate at over 62%. Overall, electric vehicles make up just 1.9% of the EU’s total bus fleet, according to data from the European Automobile Manufacturers’ Association (ACEA). The sluggish demand in the public transport sector, where Switch UK operates, is primarily attributed to high upfront costs, range anxiety, and inadequate charging infrastructure.

Buses and coaches handle only about 7.3% of passenger transport on EU roads, ACEA reported. “EV market is still kind of very, very subdued in UK against our expectations 2-3 years ago. So, we are evaluating the options for Switch UK because there we are making losses,” Agarwal stated in February 2025.

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BUSINESS

United Spirits Sells Malabar Hill Property for Rs 172 Crore

Dhruva Kulkarni

United Spirits has approved the sale of its Malabar Hill property in Mumbai for Rs 172 crore, including furniture and fittings.

The buyers, Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani have no links to the company’s promoters or group companies and will bear all applicable stamp duty, registration fees, and taxes.

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The agreement does not grant any special rights, such as appointing directors or influencing the capital structure.

The transaction was conducted at arm’s length and does not qualify as a related party transaction. United Spirits disclosed the deal under SEBI’s Listing Regulations, 2015, as per Regulation 30.

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BUSINESS

Govt Approves Rs 62,700 Cr Deal for 156 Light Combat Helicopters from HAL

Dhruva Kulkarni

The government has approved a record Rs 62,700 crore deal to procure 156 Light Combat Helicopters (LCH) from Hindustan Aeronautics Ltd (HAL), strengthening the Indian Army and Indian Air Force (IAF).

These helicopters will be manufactured at HAL’s Bengaluru and Tumkur plants, creating jobs and enhancing India’s aerospace sector.

Under the agreement, 90 helicopters will be delivered to the Army and 66 to the IAF for deployment along the China and Pakistan borders.

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The LCH, known as Prachand, is the world’s only attack helicopter capable of operating at 5,000 meters, making it ideal for high-altitude warfare in Siachen Glacier and Eastern Ladakh. Armed with air-to-ground and air-to-air missiles, it can effectively neutralise enemy air defence systems.

HAL received the tender in June 2024, and the Cabinet Committee on Security (CCS) approval paved the way for the mass production of these advanced helicopters.

Additionally, the CCS has sanctioned a Rs 7,000 crore deal for 307 Advanced Towed Artillery Gun Systems (ATAGS), with orders shared between Bharat Forge and Tata Group, further advancing India’s indigenous defence manufacturing.

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BUSINESS

Haldiram’s Signs Agreement with Singapore’s Temasek

Dhruva Kulkarni

Haldirams has partnered with Singapore-based investment firm Temasek, which will acquire an equity stake to support the brand’s expansion in India and globally.

PwC Investment Banking acted as the exclusive financial advisor, while Khaitan & Co provided legal counsel for the deal. The transaction is subject to regulatory approvals and is expected to close soon.

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A Haldirams spokesperson welcomed Temasek’s investment, emphasising its expertise in the consumer sector.

PwC India Chairperson Sanjeev Krishan called the deal a milestone, highlighting PwC’s long-term advisory role and noting that it is India’s largest private equity consumer deal, reflecting the global rise of domestic businesses.

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IPO

Infonative Solutions IPO GMP: Issue Size, Lot Size, Financials & Timeline

Dhruva Kulkarni
Infonative Solutions IPO GMP

Infonative Solutions Limited is set to launch its Rs 24.71 crore IPO. The issue will be open for applications from 28th March to 3rd April. This fresh issue of 31.28 lakh shares will be listed on the BSE SME platform.

Retail investors need to invest at least Rs 1,26,400, while HNIs must apply for a minimum of Rs 2,52,800 (3,200 shares or 2 lots).

Kfin Technologies Limited is the registrar, Share India Capital Services Private Limited is the lead manager, and Share India Securities Limited will act as the Market Maker.

Infonative Solutions IPO GMP

The latest updated GMP of Infonative Solutions IPO is Rs 05, as of 4th April, 2025 09:25 AM. The IPO has a price band of Rs 79. The estimated listing price for Infonative Solutions IPO is Rs 84, reflecting a potential gain of 6% per share.

DateGMPExpected Listing PriceLast Updated
04-04-2025Rs 05Rs 8409:25 AM
03-04-2025Rs 14Rs 9310:00 AM
02-04-2025Rs 14Rs 9303:45 PM
01-04-2025Rs 14Rs 9312:05 PM
31-03-2025Rs 0Rs 7910:30 AM
30-03-2025Rs 0Rs 7910:00 AM
29-03-2025Rs 0Rs 7910:00 AM
28-03-2025Rs 0Rs 7910:15 AM
27-03-2025Rs 0Rs 7912:30 PM
26-02-2025Rs 0Rs 7911:30 PM
25-03-2025Rs 0Rs 7911:30 PM
24-03-2025Rs 0Rs 7911:30 PM

Infonative Solutions IPO Details

Face ValueRs 1 per Share
Lot Size1,600 Shares
Issue Price BandRs 75 to Rs 79
Listing AtBSE SME
Total Issue Size31,28,000 Shares (aggregating up to Rs 24.71 Cr)
Fresh Issue31,28,000 Shares (aggregating up to Rs 24.71 Cr)
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Infonative Solutions IPO Timeline

Opening – Closing Dates28th Mar – 3rd Apr
Cut-off Time for UPI Mandate Approval5 PM on 3rd Apr
IPO Allotment 4th Apr
Amount Refund7th Apr
Credit of Shares7th Apr
Listing Date8th Apr

Infonative Solutions IPO Lot Size

Application  LotsSharesAmount
Retail (Min)11,600Rs 1,26,400
Retail (Max)11,600Rs 1,26,400
HNI (Min)23,200Rs 2,52,800

Infonative Solutions Company Details

Infonative Solutions Ltd, incorporated in 2014, specialises in custom e-learning solutions for corporate and educational sectors. The company designs and develops eLearning content, cloud-based Learning Management Systems (LMS), and related services.

It offers bespoke e-learning solutions, consulting, courseware, and ready-made content, with expertise in LMS, instructional design, gamification, AR/VR-based content, and software simulations. Clients include Fortune 500 companies, Big 4 firms, IT/ITES, education, and government agencies across BFSI, consulting, and FMCG sectors.

Services:

  • Training Solutions: Product, leadership, behavioral, and onboarding training.
  • Program Assessment: Identifying gaps in content, technical feasibility, and training delivery.
  • Audience Profiling: Choosing self-paced, virtual, or blended training based on staff needs.
  • Prototype Development: Initial model creation before full-scale development.

Products:

  • MindScroll LMS: Cloud-based, mobile-friendly LMS for online training.
  • Off-The-Shelf Courses: Pre-designed courses on soft skills, data visualisation, and insurance sales.
  • eLearning Market: A platform for customisable eLearning templates, icons, and music.

The company had 154 employees as of 31st March, 2024, and 157 as of 30th September, 2024.

Infonative Solutions Key Finances

Period Ended30th Sept, 202431st Mar, 2024
Assets (in Rs Cr.)18.214.37
Revenue (in Rs Cr.)11.4218.08
Profit After Tax (in Rs Cr.)3.641.45

Financial Performance:

Revenue: The company generated Rs 11.42 crore in revenue during the period ended on 30th September, 2024.

Net Worth: The company’s net worth, which represents the total value of the company’s assets minus its liabilities, is Rs 13.75 crore.

Financial Position:

Assets: The company’s total assets amounted to Rs 18.2 crore as of September 2024. Assets have grown significantly, indicating potential expansion and investment.

Profit After Tax (PAT): The company generated PAT of Rs 3.64 crore as of September 2024.

Infonative Solutions IPO FAQs

  1. What is the issue price band of the Infonative Solutions IPO?

The issue price band for the Infonative Solutions IPO is Rs 75 to Rs 79 per share.

  1. What is the issue size of the Infonative Solutions IPO?

The total issue size of the IPO is Rs 24.71 crore.

  1. What is the lot size for the Infonative Solutions IPO?

Each lot consists of 1,600 shares, with a minimum investment of Rs 1,26,400.

  1. What are the allotment and listing dates for the Infonative Solutions IPO?

The allotment is set for 4th April, and the listing is scheduled for 8th April.

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