logo
Six private firms compete for NMC's ‘pay-and-park' project

Six private firms compete for NMC's ‘pay-and-park' project

Time of India11 hours ago
Nashik: Six private agencies have shown interest in Nashik Municipal Corporation (NMC)'s 'pay-and-park' project, which is likely to be implemented at 28 locations across the city by Aug-end.
The project involves 22 on-street and six off-street parking spaces.
NMC's public works department hosted a pre-bid meeting for the project, attracting private firm representatives from Mumbai, Pune and other cities. During the meeting, civic officials provided detailed project information and addressed queries from interested firms.
Civic officials said the private firms requested a reduction in the royalty amount that the appointed agency must pay to the civic body.
"We have quoted a royalty amount of Rs 35 lakh per month for the agency operating and managing the 28 on-street and off-street parking spaces. We have, however, clarified that there would be no reduction in the royalty amount," an NMC official said. The civic body has issued a request for proposal (RFP) to deploy a private agency to manage, maintain and operate the 28 parking spaces in the city. The deadline for submitting proposals is July 10.
Nearly eight years after the failure of the Smart City Corporation, NMC decided to implement pay-and-park across many city locations.
In the first phase, pay-and-park will commence at 28 sites, with the number of parking spaces to be increased in subsequent phases.
NMC has finalised the parking charges for on-street and off-street pay-and-park spaces. For two-wheelers, charges are Rs 10 for first two hours, Rs 20 for two to six hours, Rs 40 for six to twelve hours and Rs 60 for 12-24 hours. For three-wheelers and four-wheelers, charges are Rs 20 for the first two hours, Rs 40 for two to six hours, Rs 60 for six to twelve hours, and Rs 100 for 12-24 hours.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak
Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak

Economic Times

time27 minutes ago

  • Economic Times

Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak

In the wake of market regulator Sebi's sweeping crackdown on U.S. trading firm Jane Street, billionaire banker and founder of Kotak Mahindra Bank, Uday Kotak, has flagged three key concerns about the structure of India's stock markets. He cautioned against the rising dominance of money power, the widening gap between single-stock and index derivatives liquidity, and business models that prioritise volumes over fundamentals. ADVERTISEMENT 'Recent stock market actions signify 3 aspects: money power, low liquidity in single stocks vs. index derivatives, exchange, broker business models linked to volume, less to fundamentals. Primary role of market is to promote capital formation, fair price discovery,' Kotak posted on X (formerly Twitter) on Saturday, July 5. blockquote class="twitter-tweet"p lang="en" dir="ltr"Recent stock market actions signify 3 aspects: money power, low liquidity in single stocks derivatives, exchange, broker business models linked to volume, less to fundamentals. Primary role of market is to promote capital formation, fair price discovery./p— Uday Kotak (@udaykotak) a href=" 5, 2025/a/blockquote script async src=" charset="utf-8"/script Link to the post: Kotak's remarks come a day after the Securities and Exchange Board of India (Sebi) barred Jane Street Group and four affiliated entities from India's securities market and ordered a freeze on Rs 4,840 crore in alleged unlawful a 105-page interim order issued Friday, Sebi accused Jane Street of deploying high-volume, cross-segment strategies to manipulate the Nifty and Bank Nifty indices, misleading retail traders and booking massive profits from index options. The regulator said the firm generated more than Rs 36,500 crore in net profits in India between January 2023 and March 2025, of which Rs 43,289 crore came from index options alone. ADVERTISEMENT The order said Jane Street used a strategy called 'Intra-day Index Manipulation' on 15 of the 18 expiry days Sebi examined, which involved buying large quantities of index constituent stocks in the morning to artificially push up prices, while holding large bearish bets in the derivatives market. These trades were later reversed to drive down prices, profiting from the January 17, 2024, a day Sebi described in detail, the firm allegedly bought Rs 4,370 crore worth of Bank Nifty stocks in the morning, creating a misleading sense of strength. At the same time, it built Rs 32,114.96 crore worth of bearish options positions. By the afternoon, it reversed its cash market trades, pushing the index lower and booking Rs 734.93 crore in profit from derivatives, its biggest single-day gain in Indian markets. ADVERTISEMENT 'The sales are aggressive, in a manner that pushes down prices in the component stocks and hence index. JS Group books losses in intraday cash/futures market trading,' the order said. 'Profits in index options more than compensate for the JS Group's losses.' Also read | Rs 735 crore in 1 day! Jane Street's most profitable day on Dalal Street was built on Nifty Bank's fall ADVERTISEMENT Sebi said it first began reviewing Jane Street's trades in April 2024, and issued a cautionary letter in February 2025 through the National Stock Exchange (NSE), warning the firm to avoid such patterns. Despite this, 'JS Group continued with similar trades, in disregard of the caution letter from the Exchange… and JS Group's own commitments,' the regulator three other expiry days, the firm allegedly deployed an 'Extended Marking the Close' strategy, placing large sell orders in the final minutes of trading to depress index levels, thereby benefiting short-call or long put positions. ADVERTISEMENT Sebi wrote that the firm was 'consistently running what appeared to be by far the largest risks in 'cash equivalent' terms in F&O particularly on index option expiry days,' and that other traders were 'unaware of all this, and were hence enticed to deal at a time that the Nifty Bank itself was being artificially and temporarily propped up.'Jane Street has denied any wrongdoing. 'Jane Street disputes the findings of the SEBI interim order and will further engage with the regulator,' the firm said in an emailed response to Reuters. It added that it is committed to operating in compliance with regulations company, which began its India operations in December 2020, has 21 days to respond to the Sebi order or challenge it before the Securities Appellate of Friday, four Jane Street-linked entities — JSI Investments Pvt Ltd, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd — have been prohibited from buying, selling, or dealing in Indian securities, and their accounts have been placed under a debit Sebi's crackdown on Jane Street unfolded: A 15-month trail of scrutiny and ignored warnings Kotak's post echoes broader concerns raised by Sebi in its investigation: that the market has tilted too far in favour of high-frequency, algorithmic strategies, while retail investors trade on distorted signals. The regulator pointed to a growing imbalance, where foreign and proprietary traders made over Rs 610 billion in FY24 through such strategies, nearly matching the losses absorbed by retail participants. (You can now subscribe to our ETMarkets WhatsApp channel)

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors
Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Economic Times

time27 minutes ago

  • Economic Times

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Live Events About Travel Food Services IPO Travel Food Services IPO bid details About the company Travel Food Services financials (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai-based Travel Food Services Limited has garnered Rs 599 crore from anchor investors ahead of its initial public offering (IPO) that opens for public subscription on Monday, July 7, Friday, the company informed the exchanges that it allocated 54,43,635 equity shares at Rs. 1,100 per share on Friday, July 4, 2025, to anchor of the marquee Institutions that participated in the anchor includes ICICI Prudential Mutual Fund , Abu Dhabi Investment Authority, Axis Mutual Fund , Fidelity Investment Trust Emerging Asia Fund, Government Pension Fund Global, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, WhiteOak Capital Flexi Fund, Bajaj Allianz Life Insurance Company, HDFC Life Insurance Company Tata AIA Life Insurance , Turnaround Opportunities Fund, IKIGAI Emerging Equity Fund, JM Financial Mutual Fund, Amundi Funds New Silk Road, Samsung India Securities Master Investment Trust Equity, Bharti AXA Life Insurance, Helios Flexi Cap Fund, SBI General Life Insurance Company, Necta Bloom VCC –Regal Fund, Integrated Core Strategies (Asia) Pte. Ltd, Societe Generale - of the total allocation of 54,43,635 equity shares to the anchor investors, 23,67,527 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes, i.e. 43.49% of the total anchor book 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 IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family 3-day IPO will close on Wednesday, July 9, 2025 and the company has set the price band for the offer at Rs 1,045 – Rs 1,100 per equity 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 can bid for a minimum of 13 equity shares and in multiples of 13 equity shares by the UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India's largest network of travel quick service restaurants (QSRs) and airport lounges. Out of its 413 outlets, 384 are located in airports. The company has a presence across 14 Indian airports, and three overseas—two in Malaysia and one in Hong also runs 37 lounges, including 28 private airport lounges in India, covering 10 domestic airports—making it the country's largest lounge the company posted a 27.4% rise in profit to Rs 379.7 crore in FY25, with revenue up 20.9% year-on-year to Rs 1,687.7 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors
Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Time of India

time28 minutes ago

  • Time of India

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Mumbai-based Travel Food Services Limited has garnered Rs 599 crore from anchor investors ahead of its initial public offering (IPO) that opens for public subscription on Monday, July 7, 2025. Late Friday, the company informed the exchanges that it allocated 54,43,635 equity shares at Rs. 1,100 per share on Friday, July 4, 2025, to anchor investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Some of the marquee Institutions that participated in the anchor includes ICICI Prudential Mutual Fund , Abu Dhabi Investment Authority, Axis Mutual Fund , Fidelity Investment Trust Emerging Asia Fund, Government Pension Fund Global, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, WhiteOak Capital Flexi Fund, Bajaj Allianz Life Insurance Company, HDFC Life Insurance Company . Tata AIA Life Insurance , Turnaround Opportunities Fund, IKIGAI Emerging Equity Fund, JM Financial Mutual Fund, Amundi Funds New Silk Road, Samsung India Securities Master Investment Trust Equity, Bharti AXA Life Insurance, Helios Flexi Cap Fund, SBI General Life Insurance Company, Necta Bloom VCC –Regal Fund, Integrated Core Strategies (Asia) Pte. Ltd, Societe Generale - ODI. Out of the total allocation of 54,43,635 equity shares to the anchor investors, 23,67,527 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes, i.e. 43.49% of the total anchor book size. 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. Live Events About Travel Food Services IPO The IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family Trust. The 3-day IPO will close on Wednesday, July 9, 2025 and the company has set the price band for the offer at Rs 1,045 – Rs 1,100 per equity share. 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. Travel Food Services IPO bid details Investors can bid for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter. About the company Promoted by the UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India's largest network of travel quick service restaurants (QSRs) and airport lounges. Out of its 413 outlets, 384 are located in airports. The company has a presence across 14 Indian airports, and three overseas—two in Malaysia and one in Hong Kong. It also runs 37 lounges, including 28 private airport lounges in India, covering 10 domestic airports—making it the country's largest lounge network. Travel Food Services financials Financially, the company posted a 27.4% rise in profit to Rs 379.7 crore in FY25, with revenue up 20.9% year-on-year to Rs 1,687.7 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store