ET NEWS

Senior IPS officers Praveer Ranjan and Praveen Kumar were on Friday appointed as the chiefs of the Central Industrial Security Force (CISF) and the lndo-Tibetan Border Police (ITBP), respectively, officials said.Ranjan, a 1993-batch Indian Police Service (IPS) officer of AGMUT (Arunachal Pradesh, Goa, Mizoram, and Union Territories) cadre, is currently serving as the Special Director General of CISF.The Appointments Committee of the Cabinet approved his appointment as Director General, CISF, for a period up to July 31, 2029, the date of his superannuation, an order issued by the Ministry of Personnel said.He will succeed incumbent chief Rajwinder Singh Bhatti, who is scheduled to superannuate at the end of this month.Praveen Kumar, Special Director, Intelligence Bureau, has been appointed as the Director General, ITBP, for a period up to September 30, 2030, the date of his superannuation.Kumar is a 1993-batch West Bengal cadre IPS officer. He will take over the charge of the border guarding force from incumbent Rahul Rasgotra, who is due to superannuate on September 30.While the CISF guards the country’s critical infrastructure, including airports, nuclear installations and space establishments, among others, ITBP is entrusted with guarding the Sino-India border.

Ganesh Consumer Products has raised about Rs 122 crore from anchor investors ahead of its IPO that opens on September 22. The FMCG company, best known for its wheat-based flour and packaged consumer products in eastern India, allocated shares at the upper end of the price band, Rs 322 per share, to a clutch of domestic and global funds.According to the allocation document, marquee investors such as Ashish Kacholia-backed Bengal Finance, Subhkam Ventures cornered the largest slice of the anchor round. Each picked up 5.89 lakh shares. Together, the two entities account for more than 31% of the anchor proceeds.Global institutions also marked their presence. Samsung India Small and Mid Cap Focus Securities Master Investment Trust (Equity) subscribed for 3.53 lakh shares, while Samsung India Securities Master Investment picked up 2.35 lakh shares.Other overseas investors such as LC Pharos Multi Strategy Fund, Citigroup Global Markets Mauritius, and Singularity Equity Fund I also participated.Domestic mutual funds and alternative investment vehicles rounded up the list. PGIM India Equity Growth Opportunities Fund Series II, Sanshi Fund I, Saint Capital Fund, Rajasthan Global Securities, and Dovetail India Fund Class 6 Shares together absorbed significant chunks of the offering.IPO detailsThe Rs 409 crore IPO of Ganesh Consumer comprises a fresh issue of Rs 130 crore and an offer-for-sale (OFS) of Rs 278.8 crore.The price band is fixed at Rs 306–322 per share with a minimum lot size of 46 shares, requiring a retail investment of Rs 14,812 at the upper end. The issue closes on September 24, with allotments scheduled for September 25 and listing expected on September 29.The Kolkata-headquartered company has carved a niche in the eastern Indian market with its packaged atta, maida, sooji, and an expanding portfolio of spices and ethnic foods. Proceeds from the fresh issue will be used to repay debt and to fund a new manufacturing facility in Darjeeling, West Bengal.

State-owned Oil India Limited (OIL) has signed a Joint Venture Agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) for developing 1.2 GW of renewable energy projects in Rajasthan, the company announced on Friday.The signed projects include 1000 MW of solar power and 200 MW of wind power capacity to be established within RVUNL’s Renewable Energy Park. The formed joint venture company will harness OIL’s energy sector expertise and RVUNL’s extensive experience in power project development to deliver sustainable energy solutions. ".The partnership will focus on solar, wind, green hydrogen, and other renewable energy initiatives, supplying clean power to Distribution Companies (DISCOMs) and commercial customers," the company said in a statement.The agreement was signed by Devendra Shringi, Chairman & Managing Director of RVUNL, and Ranjan Goswami, Executive Director (Business Development) of OIL. Ajitabh Sharma, Principal Secretary Energy, Rajasthan and Trailukya Borgohain, Director (Operations), OIL were also present during the signing of the pact.This announcement follows another pact signed with Hindustan Copper Limited on Friday. OIL signed an MoU with HCL for exploration and development of critical and strategic minerals, including Copper and associated minerals.The oil company announced that it has ventured into critical minerals apart from its present portfolio of Oil and Gas. It is now engaged in mining, production, processing and marketing of copper and related products. "OIL and HCL's partnership marks a crucial milestone in India's pursuit of self-reliance in critical and strategic minerals including Copper and associated minerals," the company said.Oil India Ltd. has established a wholly owned subsidiary, OIL Green Energy Limited (OGEL) that drives its clean energy strategy. Under OGEL, the company has built a diversified portfolio in renewables, compressed biogas (CBG), energy storage, and green hydrogen.

The initial public offering (IPO) of TMT bars manufacturer VMS TMT Ltd garnered a whopping 102.26 times subscription on the closing day of share sale on Friday, driven by strong investors' participation. The IPO received bids for 1,25,78,39,250 shares against 1,23,00,000 shares on offer, as per NSE data. The quota for non-institutional investors fetched 227.09 times subscription. Qualified institutional buyers category received 120.80 times subscription and retail individual investors (RIIs) portion got subscribed 47.88 times. The IPO of VMS TMT received over eight times subscription on the first day of bidding on Wednesday. VMS TMT Ltd on Tuesday mopped up nearly Rs 27 crore from anchor investors. The IPO has a price band of Rs 94-99 per share. The company's IPO is entirely a fresh issue of 1.50 crore equity shares. Proceeds from the fresh issue to the tune of Rs 115 crore will be used for repayment of debt and balance for general corporate purposes and issue expenses. Incorporated in 2013, VMS TMT Ltd is primarily engaged in the manufacturing of thermo-mechanically treated bars (TMT Bars). The company also deals in scrap and binding wires, which are sold within Gujarat and other states. The company's shares will be listed on the BSE and the NSE. Arihant Capital Markets is the sole book running lead manager while Kfin Technologies is the registrar for the IPO.