Omnitech Engineering, a Rajkot-based precision components manufacturer, has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) to raise Rs. 850 crore through an initial public offering (IPO). The offer comprises a fresh equity issuance of up to Rs. 520 crore alongside an offer for sale worth Rs. 330 crore by promoter Udaykumar Arunkumar Parekh. The company intends to use the proceeds primarily for debt repayment, capacity expansion through two new manufacturing units, capital expenditures, and general corporate purposes.

Finance Minister Nirmala Sitharaman on Monday called for a more proactive and taxpayer-centric approach from tax officials to resolve grievances promptly and clear pending litigations. Speaking at the Conclave of Principal Chief Commissioners of Income-tax (PrCCs IT), she emphasized accelerating disputed tax demand resolutions before faceless appellate authorities and prioritizing timely processing of refunds, which have surged 58.04% year-on-year.

Himachal Pradesh Chief Minister Thakur Sukhvinder Singh Sukhu has called upon Prime Minister Narendra Modi to rectify what he describes as a historical injustice by allocating 12% free power from all Bhakra Beas Management Board (BBMB) projects to the state. Despite contributing significantly to the hydropower potential harnessed by BBMB, Himachal Pradesh has received no such benefit. In a series of letters to central leaders and his Haryana counterpart, Sukhu also advocated for additional power entitlements and fair representation in the BBMB board.

An Air India flight traveling from London Heathrow to Mumbai reported a medical incident on Monday, where five passengers and two crew members experienced symptoms of dizziness and nausea during the journey. Upon safe landing in Mumbai, two passengers and two cabin crew were taken for further medical evaluation but were subsequently discharged after receiving care. Air India has initiated an investigation into the event and has formally reported the matter to the Directorate General of Civil Aviation (DGCA).

Adani Electricity Mumbai Ltd (AEML), a subsidiary of Adani Energy Solutions, has executed a bond repurchase worth USD 49.5 million, underscoring its ongoing commitment to prudent liability management and capital optimization. The transaction, funded entirely through internal cash reserves, pertains to a USD 1 billion senior secured notes issuance from February 2020, maturing in 2030. This follows an earlier repurchase of USD 120 million in November 2023, effectively reducing the outstanding principal to USD 830.5 million.

Jammu and Kashmir Lieutenant Governor Manoj Sinha has spotlighted a promising yet complex industrial investment scenario in the Union Territory, with proposals totaling nearly Rs. 60,000 crore pending approval. Since 2021, targeted reforms and policies have catalyzed industrial growth, resulting in Rs. 25,000 crore worth of projects either operational or underway. Sinha emphasized efforts to bridge the education-employment divide through job fairs and skill development initiatives, aiming to empower the youth and strengthen J&K’s economic fabric.

In a significant advancement toward India’s defense self-reliance agenda, Bharat Forge has emerged as the lowest bidder (L1) in the Indian Army’s tender for close-quarter battle (CQB) carbines, designed and developed by the Defence Research and Development Organisation (DRDO). The 5.56x45 mm carbine, engineered by DRDO’s Armament Research and Development Establishment (ARDE), represents a pivotal step in the country’s indigenous military modernization.

Ellenbarrie Industrial Gases has successfully garnered Rs. 256 crore from anchor investors ahead of its initial public offering (IPO), scheduled to open on June 24 and close on June 26, 2025. The IPO, valued at Rs. 852 crore, comprises a fresh issue of Rs. 400 crore and an offer for sale (OFS) worth Rs. 452.53 crore by promoters. The company, a leading supplier of industrial and specialty gases, has demonstrated strong financial growth with a 16% rise in revenue and an 84% increase in net profit for FY25.

Congress leader Rahul Gandhi sharply criticized the central government on Monday, condemning a notable downturn in housing sales across nine major Indian cities. According to PropEquity, home sales are projected to decline by 19% in the second quarter of 2025 compared to the previous year, falling to 94,864 units. Gandhi framed this as symptomatic of deeper economic distress—highlighting stagnant employment, inflationary pressures, and diminishing consumer purchasing power.

Vedanta Resources Ltd, the London-headquartered diversified natural resources conglomerate, has posted a robust profit of USD 1,617 million for the financial year ending March 2025, reversing a loss of USD 400 million in FY24. This turnaround was fueled by favourable commodity prices, premium pricing, and operational efficiencies. Revenue rose 6% year-over-year to USD 18.2 billion.