Latest news with #Sarda
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Business Standard
11-07-2025
- Business
- Business Standard
Sarda Energy & Mineral shares gain 5% as arm receives power procurement nod
Sarda energy & mineral share price today: Shares of Sarda Energy and Minerals surged over 5 per cent, logging an intraday high of ₹467 on Friday, after the company's subsidiary firm, Chhattisgarh Hydro Power LLP, received an approval from the state power distribution company to procure power from the Rehar-1 small hydro power project. At 10:45 AM, Sarda Energy & Mineral shares were trading at ₹456.35, up by 3.36 per cent on the National Stock Exchange. In comparison, the Nifty50 was down by over 150 points or 0.61 per cent, quoting 25,198. So far this calendar year, shares of the Sarda group firm have plunged over 8 per cent. Power procurement deal As per the exchange filing, Chhattisgarh Hydro Power LLP was granted an in-principle approval for procuring power from 3x 8.3 megawatt (MW) Rehar-1 small hydro power project on a long-term basis. "The company has received in-principle approval from Chhattisgarh State Power Distribution Company Ltd. for procuring power from 3x 8.3 MW Rehar-1 small hydro power project on a long term basis; and has commenced commercial operation of Rehar-1 small hydro power project," the exchange filing read. The Chhattisgarh Hydro Power LLP was incorporated on May 24, 2005, as a private company and was later turned into an LLP on September 17, 2010. About Sarda energy & mineral The company, formerly known as Raipur Alloys and Steel Ltd., was established on June 23, 1976. The company was acquired by the Sarda Group in 1979 and renamed Raipur Alloys & Steel in 1985. In 2006, it was rebranded as Sarda Energy & Minerals Ltd. The company operates an integrated steel manufacturing unit with facilities for ferro alloys production, supported by a captive thermal power plant. The company also produces sponge iron for captive use, which is further processed into rolled products for commercial sale. In addition to its core steel business, Sarda Energy is also involved in the power sector, including hydropower projects executed via special Purpose Vehicles (SPVs).
Mint
07-07-2025
- Business
- Mint
Smartworks to retire high-cost debt, fund expansion with IPO proceeds
Bengaluru: Smartworks Coworking Spaces Ltd plans to retire high-cost debt and fund its expansion with the money it raises from its upcoming initial public offering of shares, top company executives said. The Gurugram-based flexible workspace operator is preparing to launch its ₹ 583-crore IPO on 10 July. The IPO will be a combination of a fresh issue of shares aggregating to ₹ 445 crore and an offer for sale (OFS) amounting to ₹ 137.56 crore. (No fresh shares will be issued as part of the OFS; the money will flow to investors selling the shares, not to the company.) Smartworks plans to use proceeds from the IPO, which will conclude on 14 July, for capital expenditure related to fit-outs and security deposits for its new centres, loan repayment, and general corporate purposes, managing director Neetish Sarda said in an interview. 'Post IPO, our net debt, which is around ₹ 299 crore, will reduce to ₹ 175 crore. The aim is to repay the high-cost debt, while the low-cost debt continues. Around ₹ 225 crore will be used to fund expansion,' Sarda said. Smartworks is among the largest managed workspace companies in India, with 41 centres in 14 cities. It is the second flexible office operator to go for a public listing in India after Awfis Space Solutions Ltd, which made its public market debut in May last year. The company plans to increase its portfolio from 10 million to 11.5 While Smartworks is present in all major cities in India and a number of smaller cities, about 45% of its portfolio is in western India, across Mumbai, Pune and Ahmedabad. Last year, Smartworks also entered Coimbatore. 'Smartworks has significantly expanded in the last 2-3 years and will continue to grow,' said executive director Harsh Binani. 'While we will continue to focus on our core managed workspace business, we think there is a good opportunity to also grow certain ancillary businesses since we take care of over 700 clients with nearly one lakh (100,000) employees.' India's total stock of flexible workspaces hit 74 million across the top seven cities in 2024. Property advisory JLL India in February estimated that the operational footprint of flexible workspaces across the top seven cities will surpass 100 million by 2026, underscoring the sector's pivotal role in shaping the country's evolving office landscape. Smartworks's net loss widened to ₹ 63.17 crore in 2024-25 from a loss of ₹ 49.95 crore in the preceding year. Revenue from operations rose to ₹ 1,374.05 crore in FY25 from ₹ 1,039.36 crore in the preceding year, as per the company's red herring prospectus for its IPO.
Hindustan Times
28-06-2025
- Politics
- Hindustan Times
BJP working hard to bring back elected govt in Manipur: Biren Singh
IMPHAL: Former Manipur chief minister N. Biren Singh said on Friday that the Bharatiya Janata Party (BJP) is doing everything it can to restore peace and bring back a 'popular government' in the northeastern state. Former Manipur chief minister N. Biren Singh. (ANI) 'We are not fighting any political party. Our only aim is to end the crisis and bring peace to the state,' he told the media after attending a BJP meeting at Thambal Sanglen in Imphal, chaired by state BJP president A. Sarda Devi. He said the law and order situation has improved and no gunfights have been reported in the last eight or nine months. He praised Union home minister Amit Shah for working day and night to help bring back normal life. Biren also spoke about the serious problems caused by illegal immigration and drug trafficking. 'People are now beginning to understand how dangerous illegal immigrants and drugs are for Manipur and the Northeast,' he said. He added that the BJP has been asking the Centre to speed up the process of forming a new government. 'We want a government that truly represents the will of the people,' he said. BJP Manipur president A. Sarda Devi said the party has already informed central leaders about the people's strong wish to have an elected government. 'The Centre will take the required constitutional steps soon,' she said. When asked about unity within the party, Sarda said, 'Only time will tell. But we believe slow and steady wins the race.' She said that this is not the right time for political competition. 'Elections are not the priority right now. What matters most is peace and stability. We must act according to what the people want,' she added. Speaking on Sambhidhan Hatya Diwas (Constitution Murder Day), Sarda blamed the Congress for the Emergency declared on June 25, 1975. She said during that time, civil rights were taken away, opposition leaders were jailed, and the media was silenced. She explained that the BJP was not yet formed during the Emergency. It was the Bharatiya Jana Sangh that fought against the authoritarian rule. 'People now accuse the BJP of targeting the media, but back then, journalists were arrested and real press freedom was crushed,' she said. Sarda said peace, unity, and responsible governance are the BJP's main goals in Manipur. The party is working hard to bring back an elected government. When asked whether a new government could be formed before the six-month President's Rule ends, she said 'development will be seen,' but gave no clear answer. President's Rule was imposed in Manipur on February 13 after N. Biren Singh resigned as chief minister. Since then, the state assembly has been kept under suspended animation due to ongoing violence and political instability.
