Amid hectic meetings and tight schedules, Modi-Starmer Chai pe Charcha
Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer engaged in a "Chai Pe Charcha" business event, strengthening India-UK ties
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Mint
35 minutes ago
- Mint
Lenskart receives shareholder nod to raise ₹2,150 crore via IPO: Report
Lenskart IPO: Peyush Bansal-led Indian eyewear company Lenskart has received the approval of its shareholder to raise ₹ 2,150 crore through a fresh issue of shares, reported MoneyControl, citing people aware of the development. According to news report, the company filed its corporate action development with the Ministry of Corporate Affairs' (MCA) Registrar of Companies (RoC), as per the data accessed by TheKredible. The proposal to raise money via an IPO was reportedly given the green light at the company's annual general meeting on 26 July 2025, said the report, adding, the eyewear company is expected to file its draft red herring prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), in the upcoming days. The overall IPO size is expected to be around $1 billion or ₹ 8,500 crore, which includes a secondary offer-for-sale (OFS) component by the existing investors, the report added. Earlier this month, Mint reported that the eyewear company's founder, Peyush Bansal, is looking to buy a 1.5-2% stake in the eyewear retailer worth about $150 million from existing investors ahead of its planned IPO. Peyush is buying small stakes from a bunch of investors. This is being negotiated at around $7-8 billion valuation. Existing investors like TR Capital, Chiratae, Softbank and Kedaara Capital are expected to sell their stake as part of the deal. Over the years, the company has raised $1.08 billion in funding across 19 rounds, including its latest Series I round for $18.2 million on 21 July 2023. It has received investments from various firms, including SoftBank Vision Fund, TPG, and Chiratae Ventures. Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital are the company-appointed book-runners for the IPO, which is soon expected to hit Dalal Street. The company was founded in 2010, and since then, it has emerged as one of the biggest players in the Indian eyewear industry. It has 2500 retail outlets across the nation and a presence globally, such as in Singapore and the United Arab Emirates (UAE).
Time of India
an hour ago
- Time of India
Robust tourism helps excise dept boost revenue by 45% since 2022
Panaji : Goa's excise department has seen a significant jump in revenue, with a 45% increase over the last four financial years. The department raked in Rs 947.9 crore in 2024-25, as against Rs 650 crore in 2021-22. This increase is attributed to robust tourist footfalls and enforcement by the department. Goa's excise collection shot up to Rs 865 crore in 2022-23 due to several measures implemented by the excise department. In 2023-24, the department's revenue increased to Rs 900.2 crore. Goa's excise revenue is largely driven by tourists who either purchase alcohol from retail stores or consume liquor at restaurants and hotels. Alcohol sales are also driven by events in the state. Data shared with the legislative assembly also shows that Rs 4.1 crore is owed to the department by 242 retail outlets, bars and alcohol manufacturers since 2018. Of the 242 defaulters, most are from Tiswadi and Salcete talukas. While some of the licence holders have come forward and cleared their dues, the department has been forced to issue notices to most of the excise licence holders to recover what is owed. Those outlets which have ignored notices and reminders to pay the annual audit fees risk having their licences being cancelledwith the department already proposing to cancel some licences">, said officials. In the Goa budget 2023-24, the excise duty on high-end liquor was reduced and duty on other categories of Indian made foreign liquor (IMFL) was marginally increased to shore up revenues. The department said that while no tax refund or waiver has been granted under the Excise Duty Act, applicants have been offered an adjustment of excise duty only in cases where permits are cancelled and the said excise duty paid for liquor goods in these cancelled permits are adjusted in their future permits.
Time of India
an hour ago
- Time of India
Indus Water Treaty Favoured Pakistan, Left India With Little Share: Lt Gen Vinod Khandare
Nagpur: Retired Lieutenant General Vinod Khandare, former Principal Advisor to the Union Ministry of Defence during Operation Sindoor , has termed the Indus Water Treaty of 1960 as "unfair and biased towards Pakistan ." Speaking at a Jansamvaad event organised by Janmanch NGO, Khandare stated that the political leadership of the time gave away significant control over India's river resources, leaving the country with a disproportionately small share of the Indus waters. "The Indus River, originating from the Himalayas, carries a large amount of silt and sludge that used to accumulate in our dams," he said. "We wanted to de-silt it for efficiency, but were told the treaty doesn't permit us. Despite this, we cleaned the river." Khandare pointed out that the river flows from Indian states like Punjab and Haryana into Pakistan's Punjab, significantly boosting their agriculture. "They reaped harvests, earned revenue, and used that very money to fund terrorism against us," he said, underscoring the strategic imbalance the treaty has created. He added that all that changed in 2016, after a team of experts were appointed to asses and review the pact. General Khandare also raised alarms over China's covert meteorological manipulation program. According to him, China's Department of Weather Modification, with over 37,000 personnel, has been closely studying Indian monsoon patterns. "We discovered one of their meteorological sensors in the Bay of Bengal," he revealed, adding that China intends to redirect rain clouds meant for the Indian subcontinent towards Tibet and Sichuan. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Search & compare rates from major search-engines, along with local, reputable engines. Hotel Deals | Search Ads Browse Now Undo The motive, he said, is to support Beijing's industrial shift from its eastern coastal belt to inland provinces. Touching upon India's evolving defence posture, Khandare highlighted Operation Sindoor as a turning point. "The military had full operational control without political interference, which enabled decisive surgical strikes and air operations like the one at Jabbar Top," he said. The operation targeted terrorist launchpads and training facilities in Pakistan-occupied Kashmir, sending a strong message that no safe havens would be tolerated. Cyber warfare, he warned, is the new front. "Smartphones can now be weaponised. Cyberattacks, like the one that paralysed Estonia in 2008, can happen here too." He called for urgent investment in cyber resilience and civil defence, citing India's inadequate infrastructure—no public sirens in cities like Nagpur, and lack of shelters in urban areas, unlike Europe or Israel. "India's civil defence infrastructure remains alarmingly inadequate in the face of growing conventional and unconventional threats. Unlike countries like Israel, where every building has a shelter, or Europe, where metros are built underground for protection, Indian cities are ill-equipped. Nagpur, for example, lacks even basic sirens," Khandare said. General Vinod Khandare pointed out that while our armed forces may be battle-ready, the country lacks systems to protect its citizens in times of crisis or war. He further stressed the need for reforms in India's defence production. "With 41 ordnance factories underperforming, joint ventures and privatisation are no longer optional—they are essential," Khandare concluded by stating that only a self-reliant, strategically alert, and technologically equipped India can deter the evolving threats in a turbulent global order.
