Marc Loire Fashions IPO opens for subscription. Check price band, issue size and other key details
ADVERTISEMENT Investors can bid for a minimum of 1,200 equity shares, requiring an investment of Rs 1,20,000.
The issue consists entirely of a fresh issue of shares, with no offer-for-sale component. Of the total shares offered, 47.49% are reserved for retail investors and 47.49% for non-institutional investors.
Finshore Management Services is the lead manager for the issue and Maashitla Securities is serving as the registrar.Founded in 2014, Marc Loire Fashions operates in the women's footwear segment, offering a diverse product portfolio that includes ethnic sandals, wedges, formal sandals, athleisure slip-ons, and more.The company markets its products through both Direct-to-Consumer (D2C) online platforms and Business-to-Business (B2B) retail channels, with partnerships across well-known outlets such as Reliance Centro Stores and Lulus Mall, in addition to various e-commerce platforms.
ADVERTISEMENT The company has shown stable financial growth with FY25 revenue of Rs 42.46 crore and net profit of Rs 4.71 crore, reflecting an 11.08% PAT margin and a return on equity (ROE) of 44%.Proceeds from the IPO will be used to expand its retail footprint through the launch of 15 new exclusive brand outlets, fund working capital needs, purchase display infrastructure, and cover general corporate expenses.
ADVERTISEMENT Allotment results are expected by Thursday, July 3, followed by refunds and demat credit by Friday, July 4.
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Time of India
15 minutes ago
- Time of India
'AICC tried to revive AJL': Rahul Gandhi's counsel in Herald case
Rahul Gandhi (File photo) NEW DELHI: All India Congress Committee (AICC) was not trying to sell assets of Associated Journals Limited (AJL), the company which published National Herald newspaper, but rather trying to save the institution that was a part of the freedom movement, senior advocate R S Cheema, representing Rahul Gandhi , told a Delhi court Saturday. Cheema made his submissions before the court of special judge Vishal Gogne, which is hearing arguments on the point of cognisance of the chargesheet filed against Sonia Gandhi , Rahul and others in National Herald money laundering case. "In post-Independence period, it (AJL) was never a commercial institution. We (AICC) were trying to retrieve an institution which is part of the freedom movement heritage. The problem was not recovering the loan (given to AJL) but to revive it, to see that it comes back on the rails. AICC was not looking for profit from sales. This is a squinted version," Cheema said. According to ED, Sonia and Rahul, along with others and a private company, Young Indian Pvt Ltd, conspired to launder money by fraudulently usurping AJL's properties valued at over Rs 2,000 crore in exchange for a loan of Rs 90 crore. Cheema said ED's allegations were "crude lies". The senior advocate said ED made unwarranted inferences against Rahul by wrongly assuming that he was the person in-charge of AICC's affairs as its general secretary in 2010. According to the party constitution, AICC has several general secretaries at a point in time, and no one of them could be in-charge of its affairs, Cheema pointed out. The counsel further stated Sonia, then Congress president, was wrongly inferred as person in-charge of AICC when the loan was assigned to AJL. The arguments will continue against other accused, including Suman Dubey, Sam Pitroda, Sunil Bhandari, Young Indian and Dotex Merchandise Pvt Ltd, on Monday.
India Gazette
20 minutes ago
- India Gazette
"Wanted to revive AJL, no rent enjoyed by Young Indian": Rahul Gandhi's counsel tells Delhi court in National Herald case
New Delhi [India], July 5 (ANI): Young Indian was created to revive Associated Journal Limited (AJL) and not to earn rent, Congress leader Rahul Gandhi's counsel told the Rouse Avenue court, which is hearing the National Herald case. 'AJL is freedom-fighting legacy, our purpose is to save it, not to earn rent from its properties. It was founded by Jawaharlal Nehru, Rafi Ahmed Kidwai and other leaders before Independence. Motive was its revival, not to earn rent,' the counsel mentioned. Special judge Vishal Gogne is hearing arguments on the cognizance of prosecution complaint filed by the Enforcement Directorate (ED). Senior advocate RS Cheema along with Tarannum Cheema appeared for Rahul Gandhi. Senior advocate Pramod Kumar Dubey also appeared in the matter. The court has listed the matter for hearing on Monday. The court has also sought reply on application moved by Suman Dubey seeking a direction for supply of certain documents including the statement of Motilal Vohra taken by the ED in another related case. At the outset of hearing, Additional Solicitor General (ASG) SV Raju also addressed the court regarding a query on takeover of AJL by Young Indian and disinvestment of Air India by the Centre. He said disinvestment in Air India was done in a transparent way. 'You can't compare Air India deal with the Young Indian deal,' the ASG submitted. He said AICC gave loan to loss making AJL and no prudent person will do it. 'Rs 90 crore loss to AICC is a wrongful loss. It is a result of conspiracy by respondents,' he said. Raju submitted that AICC should have adopted auction to recover the debt and AICC was aware that AJL was a loss making company. There was no transparency in taking the debt of AJL by Young Indian, he said. In response to Raju's submissions, Cheema asked if it is for the ED to decide what AICC's motive and priority are. 'It is incumbent on the court to take a look of complaint of Dr Subramaniam Swamy while taking cognizance of complaint of ED,' Cheema said. He said Motilal Vohra was questioned by the ED at his home in another case related to AJL. 'That case was filed in 2016 and cognizance was taken. ED waited a long time. Vohra passed away. He had knowledge of the deal. His statement was recorded,' the Senior Advocate said. 'A private complaint filed Dr. Subramaniam Swamy was converted into a schedule offence and ED later registered a money laundering case? One of the few exceptions that was made by ED was picking up a private complaint after years. The question is how will the Court respond to this?' Cheema said. Scheduled offence and FIR or statutory complaint need to be exist for a money laundering case, Cheema said. Cheema said Young Indian (YI) would have no rights on the assets of AJL. The Senior Advocate also submitted despite being a not-for-profit company, Young Indian was not indulging in any charity. He strongly denied the allegations that young Indian was involved in money laundering. Cheema said later leader Motilal Vohra, who was treasurer of AICC, was responsible for management of funds. He said AJL is alive and kicking and digital news operation was started. 'AJL is not dead. It is in control of its properties. Congress Party gave a lone to revive AJL. The loan was not given to earn interest or to get its properties,' he said. 'If AJL makes profits, it will go to the Young Indian, not the individuals. The rent generated from the property is being enjoyed by the respondents, it is totally wrong, ' the Senior Advocate submitted. Rent is earned by AJL and it is being used by it for construction of commercial spaces, he added. On the point of alleged offence, the Senior Advocate said that the money laundering is dealt in three pages. 'They are the most fascinating ones. The best scenario is that AJL starts having profits. Then the dividends will go to YI,' Cheema said. Special judge raised a query that as per ED, a rent of Rs 142 crore went to YI. Chima referred to urdu poetry 'Woh jhoot bol raha tha, bade salike se, mein yakin na karta, toh kya karta...? Waseem Barelvi,' he said. 'It is AJL which is using the rent. These are crude lies. AJL got that. The amount is not mentioned. Therefore, what case are we looking at?' Cheema argued. Cheema argued that as per ED, shareholders are supposed to be the victims they are defrauded of crores of rupees and said that ED has not investigated those 1000 shareholders. 'Will this trial go on without them being interrogated?' he argued. Responding to the question, the ED counsel said, 'We are still examining whether AJL can be made an accused. Rs 90 crore were for the use of the Congress party.' (ANI)
India Gazette
21 minutes ago
- India Gazette
Tribhuvan Cooperative University to end nepotism in cooperatives: Amit Shah
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