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Mint
a day ago
- Business
- Mint
IndiQube Spaces IPO: Workspace solutions provider raises ₹314 crore from anchor investors ahead of public issue
IndiQube Spaces IPO: Workplace solutions provider IndiQube Spaces completed its anchor investor round on Tuesday, July 22, 2025. The company raised over ₹ 314 crore from anchor investors ahead of its initial public offering (IPO). IndiQube Spaces allocated a total of 1,32,62,658 equity shares or 1.32 crore equity shares to the anchor investors at an allocation price of ₹ 237 per share, the company informed BSE in an exchange filing. Of the total equity shares allocated to the anchor investors, 8,932,571 shares were assigned to 8 domestic mutual funds across 21 schemes. Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV & WhiteOak Capital, Invesco India ELSS Tax Saver Fund, Bandhan Large & Mid Cap Fund, Motilal Oswal Large Cap Fund, Malabar India Fund & Malabar Midcap Fund are some of the key anchor investors who were allocated equity shares. Additionally, Max New York Life Insurance, Edelweiss MF, Baroda BNP Paribas, TOCU Europe III S.A R.L., Groww Mutual Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius Private Limited, and Societe Generale were also allotted equity shares. Notably, WestBridge Capital, along with group companies Aravali Investment Holdings, WestBridge AIF I, Konark Trust, and MMPL Trust, has a pre-offer shareholding of 27.95 per cent in the company and is not diluting any stake. On Tuesday, July 22, the grey market premium (GMP) of Indiqube Spaces IPO stood at ₹ 23 per share at 8:36 pm. With the upper price band at ₹ 237 per share, the shares of the company are expected to be listed at ₹ 260, with a premium of 9.7 per cent, according to data from Investorgain. Indiqube Spaces has set the price band for the public issue at ₹ 225 to ₹ 237 per equity share. The company aims to raise ₹ 700 crore from this public offer, of which ₹ 50 crore is reserved for offer for sale (OFS). The remaining ₹ 650 crore will be raised through the issuance of fresh shares. In fiscal 2025, IndiQube reported a total income of Rs1,103 crore and a CAGR of 35 per cent from fiscal 2023. The company's EBITDA stood at ₹ 660 crore with a return on capital employed (RoCE) of 34.21 per cent.
Time of India
7 days ago
- Business
- Time of India
Insurtech funding set to top $1 billion in 12 months
Private funding in the insurance technology or Insurtech sector is forecast to exceed $1 billion in the next 12 months after past few years of moderation, said a report released at India Insurtech Summit 2025 on Thursday. The funding for 2024 stood moderated to $239 million from $497 million a year ago. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Others Operations Management PGDM Leadership Healthcare Design Thinking healthcare MBA Product Management Public Policy Management Cybersecurity Degree Finance others Project Management Data Science MCA Data Analytics CXO Digital Marketing Technology Data Science Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details After peaking at $820 million in 2021 on the back of aggressive expansion and strong investor enthusiasm, the funding has moderated. This is because the sector transitioned to a quality-focused growth and as global economic factors encouraged more disciplined capital allocation, according to a report jointly prepared by Perfios, a global B2B software-as-a-service company working in the BFSI sector and fintech and advisory firm The Digital Fifth. 'There is currently a clear gap in funding for tech stack companies and claims solutions — areas that are essential for driving efficiency and enhancing customer experience, and which should see significant growth in the coming years,' said the report. The report also said that India's insurance penetration , which had got a boost from the COVID pandemic, declined below 4% mainly because of drop in uptake of life insurance, according to the report. Insurance penetration fell to 3.7% in FY24, after staying above 4% for preceding three fiscals. The number for the life insurance segment fell to 2.7% in FY24 from 3% a year ago, while it remained 1% for the non-life segment. This signals an enormous protection gap, especially in health, life, and micro-insurance categories, the report said. While penetration declined, insurance density improved slightly, with per capita premium rising from Rs7,847 in 2022 to Rs8,103 in 2023, led by the non-life segment, said the report. The report said that a slew of regulatory initiatives like National Health Claims Exchange (NHCX) and the upcoming Bima Sugam platform are laying robust digital rails for insurance innovation. In addition, the Digital Personal Data Protection Act (DPDPA) is expected to enhance customer data and consent-based experiences.
Time of India
15-07-2025
- Time of India
60-year-old man assaulted by teen son dies in hosp
T'puram: A 60-year-old man, who was beaten up severely by his 19-year-old son, died while under treatment at a hospital in Neyyattinkara on Tuesday. The deceased is Sunil Kumar from Pattyakala in Venpakal. Neyyattinkara police arrested Sijoy Samuel from Pananinnayil over the incident under BNS Section 103 (for murder). Sunil and his wife had moved into a rented house at Venpakal due to his torture and the murder took place when they visited his house to provide food. The incident occurred on Friday, but the deceased told healthcare staff that the injury on his head was due to an accidental fall from staircase. Police confirmed it was a murder considering the nature of injuries. During questioning, the accused confessed to the crime. The statement of Sunil's wife also proved crucial. "The couple's daughter was 12 years older than the accused and they pampered the accused a lot from childhood. However, the child grew up with great anger towards the parents and used to get violent with them without any reason. The accused studied only until Plus One," said police. On Friday morning, the accused quarrelled with his father demanding money and started beating him up. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo "Neighbours hospitalised Sunil and the mother also told them that he fell from the staircase. The parents tried to cover up the crime due to their blind love towards the accused. At the hospital, doctors raised some suspicion and the mother and accused were questioned. The wooden piece was recovered from the house and it had blood stains on it," added police.
Time of India
14-07-2025
- Politics
- Time of India
HC halts probe in lynching case after cops invoke lesser murder charge
1 2 Meerut: Allahabad high court has halted the ongoing police investigation into a mob lynching case, observing that police had booked it under a "general murder clause" instead of the more stringent BNS Section 103(2) which specifically addresses "mob violence motivated by hate". The court directed Uttar Pradesh govt to file a more comprehensive compliance affidavit aligned with the Supreme Court's 2018 Tehseen S Poonawalla guidelines. A bench of Justice Siddharth and Justice Avinash Saxena passed the order on Thursday while hearing a criminal public interest litigation filed by Mohammad Alam, elder brother of the deceased, Shahedeen Qureshi, 37, who was beaten to death by self-styled cow vigilantes on Dec 30 last year. The Poonawalla judgment by Supreme Court laid down binding guidelines for handling mob lynching cases, focusing on prevention, accountability and victim support. It directed states to appoint nodal officers in each district, register FIRs without delay, provide interim compensation to victims or their families, ensure time-bound charge-sheeting and trial, and take departmental action against officials found negligent. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta nueva alarma con cámara es casi regalada en Glew (ver precio) Verisure Más información Undo by Taboola by Taboola The court noted that circumstances of the assault on Shahedeen — carried out by a group allegedly driven by communal hate — fulfilled the conditions for action under BNS section 103(2), which criminalises mob violence by five or more individuals when motivated by identity-based hate. The next hearing is scheduled for Aug 5. Around 3am on Dec 30, Shahedeen — a former bodybuilder who had been unwell for several months and was working as a cart-puller — was assaulted inside the Mandi Samiti premises in Moradabad. He was admitted to hospital with serious injuries and later died during treatment. A video surfaced online showing a group of men beating him. Although one person was detained on cow slaughter charges, no arrests have yet been made in connection with the lynching. The petition alleged that police shielded the attackers and failed in their duty to prevent the crime, also claiming that Shahedeen's signature on the FIR had been taken under pressure. It demanded a court-monitored probe by a Special Investigation Team (SIT), cited gaps in the police response, and sought Rs 50 lakh in compensation for the family. Though the investigating officer submitted a counter affidavit, the HC observed that the state govt had not demonstrated compliance with the Poonawalla ruling. The court gave three weeks for a fresh affidavit and emphasised the need for specific steps as per the norms. Petitioner's counsel Syed Ali Murtaza told the court that strong documentary and digital evidence — including videography, photographs, postmortem and medical findings, FIR copy, and eyewitness testimonies — had already been placed on record. He argued that a probe by an SIT or an independent agency was essential to ensure impartiality and credibility. The court said the matter required a more focused and legally correct investigation, which could only be ensured by shifting the case under Section 103(2) and applying the binding Supreme Court guidelines. Courts in Karnataka, Mangaluru and other states have followed similar principles in recent lynching cases to strengthen legal action. Shahedeen's family welcomed the court's intervention. "We were holding on to hope, and now, with this order giving new direction to the probe, the family feels some relief. Our brother is gone, but justice must prevail," his brother and petitioner Mohammad Alam told TOI.
Time of India
13-07-2025
- Time of India
Tantrik held for killing 2 kids in Meerut, planned to kill 9 more
Meerut: A self-proclaimed tantrik was arrested on Saturday for the murders of two boys, aged 14 and 11, which he allegedly carried out as part of a planned series of 11 child sacrifices intended to gain supernatural powers — a ritualistic practice he is believed to have learned from his father. Mohd Asad, in his 20s, was apprehended after a brief encounter with police under Saroorpur police limits in Meerut. An FIR has been lodged under BNS Section 103 (murder), along with other relevant charges, including destruction of evidence, and the accused has been sent to jail. Police said the case came to light after 14-year-old Mohd Uwais, a resident of Nababgarhi village, went missing on Thursday evening after offering namaz. His family later received a ransom message from Uwais's mobile number, demanding Rs 5 lakh and accompanied by a QR code for payment, prompting them to transfer Rs5,000 before alerting the police. Surveillance on the victim's phone led investigators to Asad, a neighbour of the boy. SP (Rural) Rakesh Kumar Mishra said, "Asad opened fire on the police and was shot in the leg in retaliatory firing. A loaded gun was seized from his possession." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Egypt: Unsold Sofas May Be at Bargain Prices (Prices May Surprise You) Sofas | Search Ads Search Now Undo Uwais's body was later found in a dilapidated house in Meerut's Nai Basti area, where he had been strangled and his remains partially destroyed with acid, a police official privy to the case added. During interrogation, Asad allegedly confessed to having also killed an 11-year-old boy who had been missing for three months and claimed to have buried the body in a nearby field, from where skeletal remains were later recovered, a local resident claimed. A resident, Shahvez Ansari, said Asad and his family had long been associated with occult practices. Several villagers also alleged that he had exhibited disturbing behaviour in the past, particularly targeting boys, although earlier complaints were reportedly ignored by the police. Police said Asad also admitted to planning a larger black magic ritual involving the sacrifice of 11 boys. Mishra said that further investigation is underway, including forensic analysis of the remains and a review of old missing persons' reports.
