Travel Food Services Limited’s Initial Public Offering to open on Monday, July 7, 2025, price band set at ₹1,045/- to ₹1,100/- per Equity Share

(L-R) Vikas Vinod Kapoor, Whole Time Director & Chief Financial Officer, Mr. Varun Kapur, Managing Director and Chief Executive Officer, Gaurav Dewan, Chief Operating Officer Travel Food Services Limited and Sarah John, Corporate Affairs Director of SSP, addressing the Media at their IPO Press Conference held in Mumbai today.

 

Mumbai, July 2, 2025: Travel Food Services Limited has fixed the price band of ₹1,045/- to ₹1,100/- per Equity Share of face value ₹1/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, July 7, 2025, for subscription and close on Wednesday, July 9, 2025. Investors can bid for a minimum of 13 Equity Shares and in multiples of 13 Equity Shares thereafter.

The IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family Trust. A discount of ₹104 per equity share is being offered to eligible employees bidding in the employee reservation portion.  

Travel Food Services Limited is engaged in the fast-growing Indian airport travel quick service restaurant (“Travel QSR”) and lounge (“Lounge”) sectors. It operates a travel quick service restaurant (“Travel QSR”) and a lounge (“Lounge”) business across airports in India, Malaysia and Hong Kong. It also has Travel QSRs on nine highways in India. Its Travel QSR business comprises a range of F&B concepts tailored to customers' demands for speed and convenience within travel environments. As of March 31, 2025, its F&B brand portfolio includes 127 partner and in-house brands.

The company has a market share based on revenue (including Associates and Joint Ventures) of approximately 26% in the Indian airport travel QSR sector and approximately 45% in the Indian airport Lounge sector in Fiscal 2025, according to the CRISIL Report. Its Lounge business comprises designated areas within airport terminals, accessible primarily by first and business-class passengers, members of airline loyalty programs, select credit card and debit card holders, and members of other loyalty programs.

TFS has a presence in 14 airports in India, three airports in Malaysia, and one airport in Hong Kong as of March 31, 2025. Out of the 14 airports in India, 13 of them were among the 15 largest airports in the country including Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai.

Travel Food Services’ revenue from operations increased by 20.87% to ₹1,687.74 crore in Fiscal 2025 from ₹1,396.32 crore in Fiscal 2024, attributable to an increase in LFL Sales Growth and Net Contract Gains. Profit for the year increased by 27.35% to ₹379.66 crore in Fiscal 2025 from ₹298.12 crore in Fiscal 2024.

Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, and Batlivala & Karani Securities India Private Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% and 35% of the offer shall be available for allocation to non-institutional investors, and retail individual bidders respectively.

 

Notes for Reference:

Issue Size of the IPO based on the upper and lower end of the price band

	Offer for Sale
Lower Band (@ Rs 1,045)	Rs 2,000 crore
Upper Band (@ Rs 1,100)	Rs 2,000 crore

 

Crizac Limited’s Initial Public Offering to open on Wednesday, July 2, 2025, price band set at ₹233/- to ₹245/- per Equity Share

Mumbai, June 27, 2025: Crizac Limited has fixed the price band of ₹233/- to ₹245/- per Equity Share of face value ₹2/- each for its maiden initial public offer. 

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Wednesday, July 2, 2025, for subscription and close on Friday, July 4, 2025. Investors can bid for a minimum of 61 Equity Shares and in multiples of 61 Equity Shares thereafter.

The IPO is entirely an offer for sale up to equity shares aggregating to Rs 723 crore and Rs 137 crore by Pinky Agarwal and Manish Agarwal respectively. 

Crizac Ltd is a B2B education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education in United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ). During the last three fiscals, it has processed over 7.11 lakh student applications while working with over 173 global institutions of higher education primarily in United Kingdom, Republic of Ireland, Canada and USA. It has 2,237 Active Agents in India and around 1,711 Active Agents in over 39 countries overseas including United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada and Egypt.

Some of the global institutions of higher education that Crizac has worked with includes University of Birmingham, University of Surrey, University of Sunderland, Nottingham Trent University, University of Greenwich, University of West London, University of Portsmouth, De Montfort University, Glasgow Caledonian University, Aston University, University of Dundee, Dundalk Institute of Technology, Coventry University and Swansea University.

Crizac is based in India with co-primary operations in London, United Kingdom. In addition, it has consultants in multiple countries including Cameroon, China, Ghana, and Kenya. As on March 31, 2025, it had a team of 368 employees and 12 consultants.

Crizac’s revenue from operations increased 33.81% from Rs 634.87 crore in Fiscal 2024 to Rs 849.49 crore in Fiscal 2025, due to an increase in the revenue from its education consultancy services as a result of increase in commission from universities. Profit after tax increased by 28.62% from ₹ 118.90 crore in Fiscal 2024 to ₹ 152.93 crore in Fiscal 2025.

Equirus Capital Private Limited, and Anand Rathi Advisors Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders.

Notes for Reference: 

Issue Size of the IPO based on the upper and lower end of the price band

Offer for Sale  

Lower Band (@ Rs 233) Rs 860 crore

Upper Band (@ Rs 245) Rs 860 crore

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LIC Group ranks 4th among the top 10 most valuable Indian brands 2025; Brand Value up 35%

 Mumbai June 25, 2025: PSU insurance giant Life Insurance Corporation of India (LIC) ranked 4th among the 10 most valuable brands in India, according to the Brand Finance India 100 2025 report.

The report notes that LIC's 2025 brand value stood at USD 13.6 billion up 35.1% from 2024 brand value of USD 10.07 billion.

Life Insurance Corporation of India (LIC) reigns supreme among the top brands ranked in the Indian insurance sector. It claimed the position of the world’s third strongest insurance brand ranked by Brand Finance’s 2025 Global Insurance 100 report, achieving a BSI score of 87.9/100. Based on Brand Finance’s market research data, LIC is perceived as a brand with high familiarity and appeal in its home market, alongside its sustained AAA brand strength rating.

Back in the list of top 10 firms by market capitalisation, LIC stands at the 8th spot with a market capitalisation with Rs 5.98 trillion backed by a 38% year-on-year growth in its Q4FY25 consolidated net profit at Rs 19,039 crore versus Rs 13,782 crore in the year ago period. The state-insurer announced a final dividend of Rs 12 per equity share for the financial year ended March 31, 2025.

The India 100 2025 by brand value is the culmination of an objective assessment of over 200 Indian brands, spanning many sectors including IT services, hospitality, automotive, pharma, tyres, retail and others, requiring robust data.  Brand Finance methodology is to tap into the latest available audited financials of companies and combine that with a thorough brand strength analysis using primary and secondary research covering both B2C and B2B brands.

Link: https://brandirectory.com/reports/india

 

Cedaar Textile Limited IPO Opens on June 30, 2025

●   Total Issue Size - Up to 43,50,000 Equity Shares of ₹ 10 each

●   IPO Size - ₹ 60.90 Crore (At Upper Price Band)

●   Price Band - ₹ 130 - ₹ 140 Per Share

●   Lot Size -s 1,000 Equity Shares

Mumbai, June 24, 2025 – Cedaar Textile Limited (The Company, Cedaar) manufacturer of a diverse range of yarns and textile products, proposes to open its Initial Public Offering on Monday, June 30, 2025, aiming to raise ₹ 60.90 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.

The issue size is 43,50,000 equity shares at a face value of ₹ 10 each with a price band of ₹ 130 - ₹ 140 Per Share.

Equity Share Allocation

QIB Anchor Portion - Up to 7,82,000 Equity Shares

Qualified Institutional Buyer - Up to 5,22,000 Equity Shares

Non-Institutional Investors - Not less than 13,28,000 Equity Shares

Retail Individual Investors - Not less than 15,00,000 Equity Shares

Market Maker - 2,18,000 Equity Shares

The net proceeds from the IPO will be utilized for installation of Grid-tied Solar PV Rooftop System for captive evacuation, modernization of the machines, to meet working capital requirements, and general corporate purposes. The anchor bidding will open on June 27, 2025 and the issue will close on July 02, 2025.

The Book Running Lead Manager to the Issue is Fast Track Finsec Private Limited, The Registrar to the Issue is Skyline Financial Services Private Limited.

Mr. Rajesh Mittal, Managing Director of Cedaar Textile Limited expressed, "This IPO represents a defining step forward for Cedaar Textile Limited as we prepare to scale our operations and broaden our impact in the textile sector. Over time, we’ve built a reputation for offering high-quality and diversified yarn solutions, driven by a deep understanding of market trends and customer preferences.

 

The capital raised will allow us to modernize key manufacturing assets, strengthen our energy efficiency through solar integration, and expand into promising areas such as technical textiles and branded apparel. We see this as a strategic opportunity to reinforce our leadership in the value-added textile segment, deepen our market presence, and continue delivering innovative, sustainable products to our customers worldwide."

 

Mr. Vikas Varma, Director of Fast Track Finsec Private Limited said, “We are pleased to be associated with Cedaar Textile Limited as they take this important step in their growth journey through the launch of their Initial Public Offering. The company’s consistent focus on innovation, sustainability, and diversification across yarns, fabrics, and apparel positions it strongly within the evolving textile landscape.”

The Indian textile and apparel industry is witnessing robust growth, driven by rising global demand, government initiatives, and a growing preference for sustainable and value-added products. Cedaar Textile is well-placed to capitalize on these trends, and we believe this IPO will play a pivotal role in helping the company scale its operations, strengthen its market presence, and create long-term value.”

About Cedaar Textile Limited:

Cedaar Textile Limited (The Company, Cedaar) manufactures and markets a diverse range of yarns and textile products, including Melange Yarns, Solid Top Dyed Yarns, Raw White Yarns and Grey Fancy Yarns in blends of Cotton, Polyester, Viscose, Acrylic, Tencel, Modal, and other fibers.

With a strong focus on sustainability, it offers products made from 100% Organic and Recycled Fibers, as well as Fabric and Technical Textiles. The company has also ventured into women’s athleisurewear under the brand "U&I" and is in discussions for the acquisition of a garment manufacturing unit.

In FY24, The Company Achieved a Revenue of ₹ 18,968.38 Lakhs, EBITDA of ₹ 2,881.05 Lakhs, & PAT of ₹ 1,105.04 Lakhs.

As of Dec 24, The Company achieved a Revenue of ₹ 11,202.62 Lakhs, EBITDA of ₹ 1,958.98 Lakhs & PAT of ₹ 706.18 Lakhs.

Disclaimer:

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

 

Union Minister Dr. Jitendra Singh Calls for Closer Collaboration among academic Institutions of Higher Education—Such as IITs, IIMs, AIIMS, IIMC, CSIR—and Scientific Institutions to Build Sustainable Startups

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“The Age of Working in Silos Is Over,” Declares Dr. Jitendra Singh While Interacting with Students of IIM Mumbai

Calls for Greater Synergy Between Public and Private Sectors to Accelerate Innovation and Meet Aspirational Goals

Highlights Democratisation of Civil Services and Rise of Women-Led Development Over the Last 11 Years

Busts the Myth That Startups Require Fancy IT Degrees—Says Aptitude Is the Cornerstone of Success

Posted On: 24 JUN 2025 6:05PM by PIB Delhi

MUMBAI, June 24 : After inaugurating a state-of-the-art Incubation Centre at IIM Mumbai, Union Minister of State (Independent Charge) for Science & Technology, Dr. Jitendra Singh, made a clarion call for closer collaboration among academic  institutions of higher education and scientific research, such as IITs, IIMs, AIIMS, IIMC and CSIR, to nurture sustainable startups and innovation-driven entrepreneurship.

While interacting with students, Dr. Jitendra Singh emphasized that “The age of working in silos is over.” He asserted that the integration of academia, industry, and government is essential for India to meet its rapid development goals. “Greater synergy between the public and private sectors is not an option—it’s a necessity,” he remarked.

Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, and MoS in the Prime Minister Office, Dept. of Space and Atomic Energy highlighted the democratization of civil services and the growing wave of women-led development over the past decade. Citing the Aditya L1 space mission, he proudly shared that it was led by women scientists, reflecting the inclusive and aspirational rise of India.

The Minister recounted a powerful story of a 16-year-old girl from a militancy-affected town who cracked the IIT entrance exam without coaching, using just a smartphone and determination—“12 hours a day for 8 months, powered by the internet,” she told him. “This is the new India, where dreams transcend limitations,” said the Minister.

Dr. Jitendra Singh also drew a contrast between the last 11 years and the preceding decade, noting that earlier generations had limited career choices. “Today’s youth have a wide array of professional avenues, supported by a rise in national self-esteem, which is reflected in how Indian students abroad command respect and better offers,” he said. He also noted that in recent years, girls have consistently topped the Civil Services Examination, signalling a significant shift in the country’s social landscape.

Charting India’s rise in research and development, Dr. Singh said, “India’s Gross Expenditure on R&D (GERD) has doubled in the last decade—from ₹60,196 crore in 2013-14 to ₹1,27,381 crore today—under Prime Minister Modi's leadership.”

He underscored that the future of India’s economy will be shaped by homegrown advancements in biotechnology, artificial intelligence, and quantum computing. Key to this has been government support, like the launch of India’s first indigenous DNA-based COVID vaccine, under the Department of Biotechnology (DBT).

He also hailed the BioE3 Policy—Biotechnology for Economy, Environment, and Employment—as a game-changer, propelling India to the forefront of global biotech.

With India rising to the 3rd largest startup ecosystem in the world, Dr. Jitendra Singh revealed that the number of startups has grown from 350 in 2014 to over 1.5 lakh in 2025. “Startups in space tech are adding significant value,” he said, noting that the government has allowed 100% FDI in the space sector and set up a ₹1,000 crore venture fund for space-based startups.

Dr. Jitendra Singh debunked the myth that startups are limited to IT professionals from elite institutions. “Startups are built on **aptitude, ideas, and innovation,” he stated. He reiterated that entrepreneurial potential exists across every sector, from biotech to agri-tech.

Dr. Jitendra Singh shared the success of the Aroma Mission, where more than 3,000 lavender-based startups are generating substantial income in rural India, creating employment and transforming lives.

The Minister also emphasized that the National Education Policy (NEP-2020) is a strong enabler of the startup ecosystem, offering students flexibility in subject selection and a holistic learning environment to become innovators, not just job seekers.

Dr. Jitendra Singh pointed out that agriculture, though contributing only around 14%  to GDP, supports the largest section of India’s population. He stressed the hidden potential in this sector and the importance of leveraging technology and innovation to unlock it.

Dr. Jitendra Singh also called the present youth “fortunate and uniquely positioned” as they will be at the prime of their careers in 2047, when India celebrates 100 years of Independence.

“You are the generation that will lead a Viksit Bharat—a fully developed India. This is not just your opportunity, it is your responsibility,” he stated, urging students to prepare themselves for the historic role they are destined to play in shaping the nation’s future.

Pushpa Jewellers Limited IPO Opens on June 30, 2025

 

● Total Issue Size - Up To 67,11,000 Equity Shares of ₹ 10 each

● Fresh Issue - Up To 53,70,000 Equity Shares

● Offer For Sale - Up To 13,41,000 Equity Shares

● IPO Size - ₹ 98.65 Crore (At Upper Band)

● Price Band - ₹ 143 - ₹ 147 Per Share

● Lot Size - 1,000 Equity Shares

Mumbai, June 24, 2025 – Pushpa Jewellers Limited (Pushpa, The Company) is a wholesale B2B jewellery maker, proposes to open its Initial Public Offering on Monday, June 30, 2025 aiming to raise ₹ 98.65 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.

The issue size is 67,11,000 equity shares at a face value of ₹ 10 each with a price band of ₹ 143 - ₹ 147 Per Share.

Equity Share Allocation

• QIB Anchor Portion - Up To 9,56,000 Equity Shares

• Qualified Institutional Buyer - Up To 22,31,000 Equity Shares

• Non-Institutional Investors - Not less than 9,57,000 Equity Shares

• Retail Individual Investors - Not less than 22,31,000 Equity Shares

• Market Maker - Not less than 3,36,000 Equity Shares

The net proceeds from the IPO will be utilized to finance the establishment of the proposed new showroom, including the capital expenditure cost and inventory cost for the showroom, funding working capital requirements and general corporate purpose. The anchor portion will open on June 27, 2025 and issue will close on July 02, 2025.                                                                                       

The Book Running Lead Manager to the Issue is Affinity Global Capital Market Private Limited, The Registrar to the Issue is Cameo Corporate Services Limited.

Mr. Anupam Tibrewal, Managing Director of Pushpa Jewellers Limited expressed, "Our journey began with a clear vision to craft timeless jewellery that blends tradition with elegance. Over the years, we have not only built a strong presence across India but have also taken our designs to international markets through our growing export business. Today, we are proud to be recognised for our design excellence, quality craftsmanship, and customer trust.

The announcement of our Initial Public Offering marks a major milestone in our journey. The proceeds will support the establishment of a new showroom, enabling us to strengthen our retail footprint and offer an enriched customer experience. This expansion is part of our broader plan to scale operations, explore untapped markets both domestic and overseas, and further solidify our position in the jewellery industry."

Mr. Sanjay Bhalotia, Founder and Chairman of Affinity Global Capital Market Private Limited said, "The Indian jewellery industry continues to show resilient growth, driven by evolving consumer preferences, rising disposable income, and increasing demand for branded, high-quality designs. With exports gaining momentum and organised players expanding their footprint, the sector is undergoing a significant transformation.

This company stands at a promising juncture, backed by a strong product portfolio, established manufacturing capabilities, and a growing presence in both domestic and international markets. The proposed Initial Public Offering will support its retail expansion and operational scale-up, positioning it well to capture emerging opportunities and strengthen its role in the evolving jewellery landscape."

About Pushpa Jewellers Limited:

Pushpa Jewellers Limited (Pushpa, The Company) is a Wholesaler jewellery maker in the B2B segment with a presence across India. The Company is one of the leading jewellery manufacturers specializing in both traditional and modern gold jewellery. It offers a wide range of gold jewellery, incorporating fine stones like Emerald, Jade, Pearl, and Meena. The Company has a strong presence in multiple regions across India and exports its products to international markets such as Dubai, the United States, and Australia, with plans for further expansion.

The Company combines in-house design and outsourced manufacturing operations to ensure high-quality production. It provides a diverse range of jewellery, including necklaces, rings, earrings, bangles, bracelets, pendants, Mangal sutras, and kadas, catering to various consumer needs. Pushpa sells its products to a wide array of customers, including wholesalers, retailers, and state-owned entities.

In FY24, The Company Achieved a Revenue of ₹ 25,534.28 Lakhs, Operating EBITDA of 1,987.50 Lakhs, & PAT of ₹ 1,357.70 Lakhs.

In FY25, The Company achieved a Revenue of ₹ 28,106.07 Lakhs, Operating EBITDA of ₹ 3,175.59 Lakhs & PAT of ₹ 2,228.63 Lakhs.

Disclaimer: 

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.