GAGA Share Market News

[hfe_template id='11223'] [ad_1] Contrary to another IPO of Shri Ahimsa, which opened on the same day, ATC Energies System's offering received a muted subscription from investors. However, the company's shares will debut on the NSE SME platform today. The GMP ahead of the listing is around 3%. Net proceeds to the tune of Rs 64 crore will be used for repayment of debt, funding capex requirements, working capital and general corporate purposes. The issue, which included a fresh equity sale and an offer for sale, was subscribed just over 1x. On the other hand, the public offer of Shri Ahimsa was booked over 60 times. ATC Energies produces and supplies lithium-ion batteries, offering efficient and cost-effective energy storage solutions for industries such as banking and automobiles. It operates factories in Vasai, Thane, and Noida, equipped with advanced machinery, an integrated development and assembly system, and quality testing facilities across a total area of a...

[hfe_template id='11223'] [ad_1] Shares of Exide Industries and Amara Raja surged up to 5% in Wednesday's intraday trade after the Central Board of Direct Taxes (CBDT) expanded the scope of Safe Harbour Rules, including lithium-ion batteries used in electric and hybrid vehicles under the definition of core auto components, according to a notification. Safe Harbour Rules provide businesses immunity from detailed tax scrutiny if they comply with predefined pricing norms under the Income-tax Rules, 1962. Additionally, the threshold for availing safe harbour has been raised from Rs 200 crore to Rs 300 crore. These changes, applicable to businesses engaged in international transactions, will be effective for assessment years 2025-26 and 2026-27. "An entire ecosystem is being set up for EV manufacturing in India. In this Budget, the FM announced a complete customs duty exemption on several capital goods for Li-ion battery production. Now, by clearly categorizing manuf...

[hfe_template id='11223'] [ad_1] The SME initial public offering (IPO) of CLN Energy was fully subscribed on Friday with an overall subscription of 2.09 times as of 11:30 AM on the second day of bidding. The company aims to raise Rs 72 crore through the SME IPO, with the shares set to list on the BSE SME platform. The retail portion of the issue was subscribed by 2.82 times, while the issue was subscribed by 1.89 times in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had fully subscribed to their allotted portion with a 100% subscription. CLN Energy IPO’s GMP on Day 2 In the unlisted market, CLN Energy doesn't have any GMP yet. This does not mean that the IPO has muted demand and it is entirely possible that there will be some grey market activity in the coming days. CLN Energy IPO issue structure CLN Energy IPO is a fresh equity sale of 28.92 lakh shares, and the issue will be available for biddi...

[hfe_template id='11223'] [ad_1] Shares of PG Electroplast today rallied 15% to their new 52-week high of Rs 718.35 on the BSE after the company’s wholly-owned subsidiary PG Technoplast has signed an agreement with Spiro Mobility for an exclusive partnership for manufacturing Spiro’s EV in India. “PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in Electronic Manufacturing Services and Plastic Molding, through its wholly owned subsidiary, PG Technoplast Pvt. Ltd., has signed a Definitive Agreement with Spiro Mobility to become an Exclusive Manufacturing partner for manufacturing of the EVs of Spiro Mobility (Spiro) in India,” said the company in a filing to the exchanges. The company informed that its primary responsibility includes setting up and managing the manufacturing facilities for Electric vehicles, Lithium-Ion batteries and related components and for procurement of parts and raw materials for the same as specified by Spiro. Spiro, meanwhile, will be ...

[hfe_template id='11223'] [ad_1] Shares of Amara Raja Energy surged 20% to its new all-time high of Rs 1,655.20 after the company announced a strategic technological collaboration with Gotion High-Tech’s subsidiary, GIB EnergyX Slovakia, for the licensing of its LFP technology for lithium-ion cells. This agreement will enable Amara Raja to manufacture world class LFP cells in both cylindrical and prismatic form factors, according to the company’s filing to the stock exchanges. The scope of licensing will provide the company with the access to cell technology IP, support in establishing Gigafactory facilities conforming to latest generation process technologies, integration with Gotion’s global supply chain network for critical battery materials, and customer technical support for solution deployment. “The technology transfer and service support will fully complement Amara Raja’s efforts to operationalize its Gigafactory manufacturing capacities and its advanced research ...