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Delta Galaxy Engineering Services Ltd. has announced a Rights Issue to raise capital for repayment of loans and general business purposes. As an existing shareholder, you have the opportunity to subscribe to additional equity shares at a price of ₹92 per share, including a premium of ₹82 per share.

Key Details of the Rights Issue

• Issue Size: 2,20,22,100 equity shares
• Issue Ratio: 1:1 (One new share for every one share held)
• ​Record Date: January 31, 2025
• Issue Open Date: February 08, 2025
• Issue Close Date: February 22, 2025
  

Payment Methods

Subscription payments can be made via Cheque, Demand Draft, RTGS, or Bank Transfer to the company’s designated account with HDFC Bank.

No Change in Control

The promoters and key personnel intend to subscribe only to the extent of their entitlement, ensuring no dilution in control, post-issuance.

• Strong Financial Performance with Robust Profitability: The company reported robust financial results in Q3FY25, with total income rising 21% (y-o-y) to ₹4,807 Cr and revenue from operations increasing 24% (y-o-y) to ₹4,349 Cr, driven by higher transaction volumes in the derivatives segment and greater contributions from listing services and data offerings. Despite a 4% sequential decline in total income due to reduced cash market volumes, profitability surged, with PAT jumping 94% (y-o-y) to ₹3,834 Cr, demonstrating strong margin maintenance. Additionally, the operating EBITDA margin significantly expanded to 78% from 64% (y-o-y), aided by a 21% (y-o-y) reduction in total expenses to ₹1,084 Cr. Earnings per share (EPS) also saw a notable increase from ₹7.98 in Q3FY24 to ₹15.49, highlighting the company's strong earnings growth.
  
  
• Market Leadership & Diversified Revenue Streams: The company has solidified its dominance in the Indian financial markets, being the largest derivatives exchange globally and the second-largest equity exchange by transaction volume. In Q3FY25, it maintained outstanding market shares of 99.9% in equity options, 94% in the cash market, and 93% in currency derivatives. A notable highlight of this quarter was the impressive growth in data and technology-driven services, with revenue from data center and connectivity services rising 33% (y-o-y) and listing services jumping 60% (y-o-y), reflecting a robust National Stock Exchange IPO and corporate fundraising landscape. Additionally, operating investment income increased by 62%, and clearing and settlement services surged by 83% (y-o-y), underscoring the company's pivotal role in market infrastructure.
  
  
• Future Outlook: The company is well-positioned for continued growth in the Indian financial markets, driven by favorable macroeconomic trends, increasing retail participation, and expanding institutional investor activity. Key growth drivers include the expansion of derivatives trading volumes due to higher participation from foreign and domestic institutional investors, sustained momentum in primary markets with ₹1.67 trillion raised through IPOs in CY24, and rising demand for data and technology-driven services amidst the growth of algorithmic trading. Additionally, the company plans to diversify its offerings in commodity derivatives, fixed income, and ESG-focused indices. Despite short-term cash market volatility, strong business fundamentals, a solid balance sheet, market dominance, and a focus on innovation position the company to capitalize on emerging opportunities in India's capital markets.​
  

Investor Update -

Budget 2025 has envisaged Kavach technology to be implemented across India by 2029. This would mean massive business orders for all 4 companies working in this sector.

Planify exclusive investment Quadrant Futuretek hits 20% upper circuit today again making a life time high of ₹644.8/share. There are 2.4 Lacs share buyers and no sellers. Share is up 120% from IPO price band of ₹290/share in less than a month now.

The Quadrant Futuretek IPO got massive subscriptions from the investor and was 196 times subscribed. There was a total of 31,256 cr worth of application for a 290 cr IPO.

Quardrant provides technology and implementation of Kavach - and has an order book of ~1,000 cr from Railways(RDSO) already.

Notable investors, including Ashish Kacholia, Capri Global Holdings, and Planify & its investors , participated in a funding round on October 26, 2024, of a total size of ~ ₹48 Cr.

Hold the stock for further gains

In case you missed on Quadrant Futuretek, get in touch with us for some

The Union Budget 2025-26 focuses on economic growth, infrastructure development, and fiscal consolidation.

Key Highlights:

• Infrastructure & Capital Expenditure – Significant funds have been allocated to modernize transportation networks, urban infrastructure, and digital connectivity to boost economic growth and job creation.
  
  
• Taxation & Fiscal Measures – The budget introduces adjustments in tax slabs, incentives for industries, and customs duty revisions to promote ease of doing business and attract foreign investment.
  
  
• Manufacturing & Industry Support – Policies are designed to encourage domestic manufacturing, export competitiveness, and Make in India initiatives, particularly in key sectors such as textiles, electronics, and automobiles.
  
  
• Agriculture & Rural Development – Special schemes and subsidies have been announced to improve farmer incomes, enhance irrigation facilities, and promote sustainable agriculture practices.
  
  
• Technology & Digital Economy – Investments in AI, fintech, digital public infrastructure, and semiconductor manufacturing aim to strengthen India's digital ecosystem.
  
  
• Social Welfare & Employment – Increased allocations in healthcare, education, and employment generation schemes underscore the government’s focus on inclusive development.
  
  
• Green Energy & Sustainability – The budget emphasizes renewable energy, electric mobility, and climate resilience, aligning with global sustainability goals.
  
  
• Defense & Security – Strategic defense spending has been prioritized for the modernization of armed forces, indigenous production, and cybersecurity initiatives.

• Financial Highlights: In FY24, the company experienced significant revenue growth, increasing to ₹5,064 Cr from ₹2,914 Cr in FY23, reflecting a robust growth of over 73.8%. The net loss improved to ₹1,996 Cr compared to ₹2,795 Cr the previous year, highlighting better cost management and operational efficiency. Employee benefit expenses rose to ₹3,603 Cr, up from ₹3,096 Cr, indicative of continued investment in human capital, while other expenses increased to ₹3,001 Cr from ₹2,251 Cr. Total assets grew to ₹12,711 Cr from ₹11,840 Cr, and total equity rose significantly to ₹9,455 Cr from ₹7,518 Cr due to fresh equity infusions and reserves adjustments. Operating activities reported a negative cash flow of ₹628 Cr, slightly worse than the negative ₹579 Cr in FY23, but the company saw a positive cash inflow of ₹1,515 Cr from financing activities, driven by share issuances and borrowings.
  
  
• Operation Highlights: PhonePe has made significant strides in expanding its operations across diverse sectors, including insurance, wealth broking, and lending services. The subsidiaries have collectively contributed to a total asset value of ₹26 Cr, reflecting their impact on the company’s consolidated financials. This growth aligns with PhonePe's broader strategy to diversify and strengthen its market presence. In terms of investments, the company has ramped up its capital expenditure to ₹2,376 Cr, with a notable increase in spending on intangible assets, now totaling ₹228 Cr. This investment is part of PhonePe’s commitment to innovation and growth, focusing on research and development, human capital, and marketing efforts. Employee compensation remains a priority, with ₹2,149 Cr allocated towards share-based payment reserves and employee stock options for FY24.
  
  
• Future outlook: Looking ahead, PhonePe anticipates further revenue growth driven by the increasing adoption of digital payments and a strategy to enhance market share. The company is actively working on operational improvements to streamline processes and enhance cost efficiencies, aiming to reduce losses while maintaining growth momentum. By diversifying into wealth management, lending, and insurance sectors, PhonePe is set to create new revenue streams, with technology investments, particularly in AI and financial innovations, positioned as key drivers of future success.

AITMC Ventures and DroneAcharya Unite to Transform the Drone Industry

DroneAcharya Aerial Innovations, a BSE SME-listed company, has signed a term sheet to merge with AVPL International, the operator of AITMC Ventures. This strategic alliance aims to reshape India’s drone industry by combining the strengths of both organizations to deliver specialized solutions in agriculture, defense, logistics, and space technology.

DroneAcharya hailed the merger as a “transformative step” in its recent announcement, highlighting its potential to revolutionize the drone ecosystem. The collaboration will integrate expertise across hardware, software, automation, and skill development into a unified framework.

Prateek Srivastava, Founder and MD of DroneAcharya, called the merger a “force multiplier,” emphasizing its capacity to set global benchmarks. Preet Sandhuu, Founder and MD of AITMC Ventures, echoed the sentiment, describing it as a key milestone in building a leading presence in drone technology. Discussions for the merger began in December 2024, with an expected conclusion within eight months, pending shareholder and regulatory approvals.

Operational Synergies

Following the merger, the companies plan to integrate core functions such as finance, legal, and compliance while retaining their individual brand identities. The combined entity, tentatively named “AVPL DroneAcharya,” will focus on cutting-edge innovations like robotics, IoT integration, Drone-as-a-Service (DaaS), and GIS solutions.

AVPL International boasts infrastructure across 12 Indian states, including 50 Global Incubation and Skill Hubs (GISH) and 20 World Incubation and Skill Hubs (WISH), with a strong focus on agriculture and drones. Meanwhile, DroneAcharya, known for its R&D and operational excellence, recently secured an INR 7.53 lakh contract with the Indian Army for drone training.

Financial Overview

DroneAcharya debuted on the BSE SME platform in December 2022 but reported a 62.1% profit decline to INR 1.50 crore in H1 FY25 due to election-related disruptions, despite a 28.8% revenue increase to INR 26.90 crore. Srivastava remains confident about Q4 FY25, citing promising projects ahead.

AITMC Ventures saw a 95.2% surge in operating revenue to INR 41.87 crore in FY24, with an 82.6% rise in profits to INR 8.84 crore. The company has postponed its planned NSE Emerge IPO to prioritize the merger, with a mainboard listing for the merged entity anticipated within eight months post-merger.

Strategic Growth

Both companies have been pursuing aggressive expansion strategies. DroneAcharya recently entered the Middle East market, partnered with Canada’s Volatus for advanced drone solutions, and introduced an Employee Stock Option Plan (ESOP) to align employee goals with organizational objectives.

AITMC Ventures continues to strengthen its presence in the agri-drone sector through its skill hubs and training programs. The merger is expected to enhance these efforts by integrating DroneAcharya’s technology-driven capabilities.

Well, who would’ve thought that one could make ₹1,000 crores revenue by making mayonnaise and sauces? Well, Veeba did. In roughly 10 years, the company has a 50% market share in the sauce, mayonnaise, & dip market (condiments). Viraj Bahl, the visionary behind Veeba Foods, not only imagined it but made it a reality.

Viraj Bahl, founder and managing director of Veeba Foods, is a new Shark on Shark Tank India season 4. Viraj's story began with a failed restaurant venture, but with unwavering support from his wife and relentless perseverance, he turned his fortunes around and built one of India's leading sauce manufacturers. 

Inspired by his father's successful food business, Viraj's entrepreneurial spirit was evident from a young age. He joined the family business, Fun Foods, and played a crucial role in its growth. In 2008, Fun Foods was sold to Dr. Oetker, a decision Viraj did not agree with. Determined to succeed, he launched his own restaurant, Pocket Full, which unfortunately failed. 

Turning Point 

Viraj Bahl and his wife sold their house to fund their next venture, Veeba Foods, in 2013. Starting as a B2B supplier to well-known quick-service eateries, Veeba quickly expanded into the retail market.

Veeba Foods' Success

Veeba Foods is now valued at over Rs. 1,000 crore. Viraj's dedication and commitment to quality have made Veeba a household name in India. 

Let’s start by asking a question. Which Ear pods do you use while travelling? Chances are that you might name boAt,  a popular wearables brand. Again the question would be do you know who its Founder is? This question that most of you would have answers too, especially if you have seen the popular TV show, Shark Tank India. It’s Aman Gupta.

• boAt is a popular Indian consumer electronics brand known for its audio products, such as earphones, headphones, speakers, and related accessories. The company has maintained a strong market presence, particularly in the audio segment, where it holds a dominant position.

• As boAt prepares for its highly anticipated IPO, it aims to raise funds to fuel further growth, repay debts, and enhance its market reach. 

• The upcoming IPO of Imagine Marketing Ltd., with the brand name boAt, is set to launch with an issue size of Rs 2,000 Crs, including a fresh issue of Rs 900 Crs and an offer for sale of Rs 1,100 Crs, the IPO will provide investors with an opportunity to be part of boAt's growth story. 

Dear Investors,

We are pleased to inform you that Apollo Green Energy Limited (formerly Apollo International Limited) will be conducting its Extra-Ordinary General Meeting (EGM) to discuss key business resolutions.

Meeting Details:

• Date: Wednesday, February 12, 2025
• Time: 11:30 A.M. (IST)
• Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)

Key Agenda:

Approval for the issuance of equity shares on a private placement basis. Details of Private Placement Round:

• Number of Shares Allotted: 137,000,000
• Face Value: INR 10
• Premium: INR 290
• Allocation Breakdown:
  • Promoters: 11.9 Crore shares
  • Non-Promoters: 1.8 Crore shares

List of allottees:

​

Pre-Issue and Post-Issue Shareholding Pattern:

Participation and Voting:
Investors are encouraged to participate in the meeting and exercise their voting rights. The remote e-voting schedule is as follows:

• Start Date: February 9, 2025, at 9:00 A.M.
• End Date: February 11, 2025, at 5:00 P.M.

Further details, including the meeting notice and instructions for participation, have been sent to your registered email addresses.

For additional support or queries, please reach out to the Company’s Secretarial Team at secretarialggn@gmail.com.

The Metropolitan Stock Exchange of India (MSEI) conducted its Extraordinary General Meeting (EGM) on January 18, 2025, via e-voting, where key resolutions, as outlined in the notice, were duly approved.

Shareholder Concerns and IPO Prospects

• IPO timeline: A significant portion of shareholder inquiries revolved around MSEI’s Initial Public Offering (IPO) plans, seeking clarity on the anticipated listing timeline. Notably, only one shareholder raised concerns regarding the company’s long-term strategy, its ongoing legal case with NSE, and the management’s efforts towards profitability. He has also questioned the management's recurring assurances regarding future profitability and IPO plans, emphasising that despite such assurances, the company has yet to achieve sustained profitability. Additionally, he expressed concerns over stock price volatility, which tends to rise on positive news but subsequently declines, failing to reflect any fundamental improvement.
  
  
• Furthermore, the shareholder proposed conducting hybrid meetings to facilitate in-person attendance, enabling shareholders to engage in direct dialogue with management. However, MSEI’s management declined this request, citing the geographically dispersed shareholder base across India. The company reaffirmed its commitment to virtual meetings to ensure broader accessibility.

Management’s Response

The management reiterated its stance that the company will pursue an IPO once it achieves profitability. They emphasized their first focus on the equity cash segment while holding licenses for both equity and derivative segments.

Private Placement of Equity Shares

On the recent controversy regarding the non-issuance of shares to previous investors, the Company Secretary clarified that the funds raised through this private placement followed a prior notification to existing shareholders regarding a rights issue. However, as there was no response from existing shareholders, the company proceeded with the private placement.

Company Valuation Approach
Two independent valuers were present at the EGM to elucidate the valuation methodology employed for the company. They adopted a dual-approach framework:

1. Income Approach (Discounted Cash Flow - DCF Methodology): This approach assessed the company’s valuation based on revenue and cash flow projections provided by MSEI, incorporating necessary adjustments. However, no specific projections were disclosed to shareholders.
   
   
2. Market Approach (Revenue Multiples): Given that MSEI is EBITDA-negative, the valuers opted for a revenue multiple-based valuation. Since BSE is the only listed stock exchange in India, global listed exchanges were used as benchmarks to derive a comparable valuation.
   

Conclusion

The EGM highlighted investor concerns regarding MSEI’s financial performance and IPO plans, with shareholders urging greater transparency and engagement. While management remains committed to profitability before proceeding with an IPO, investor scepticism persists, particularly around the company's long-term strategy and execution. Going forward, MSEI’s ability to address these concerns and demonstrate tangible progress will be critical in gaining investor confidence and paving the way for a successful public listing.

An Extraordinary General Meeting (EGM) has been scheduled by VCI Chemical Industries Limited to take place on Tuesday, February 11, 2025, at 11:30 a.m. at the company's registered office, located at 49 Gov. Industrial Estate, Kanpur, Uttar Pradesh, 208012, India. The agenda for the meeting includes the following items:

• The proposed appointment of Shri Saurav Dubey (DIN: 10901769) as an Independent Director of the company.
  
  
• The proposed appointment of Shri Siddhant Sahu (DIN: 10901931) as an Independent Director of the company.
  
  
• The proposed appointment of Shri Ram Krishan Gupta (DIN: 02179693) as the Managing Director of the company.
  
  
• The proposed appointment of Shri Shubham Gupta (DIN: 05359081) as a Whole-Time Director of the company.

In a groundbreaking episode of Shark Tank India Season 4, Peyush Bansal, co-founder and CEO of Lenskart, made headlines by investing ₹5 Crs in NOOE, a premium lifestyle and accessories brand. This investment not only marks the largest deal in the show's history but also underscores Peyush Bansal commitment to nurturing innovative startups in India's burgeoning entrepreneurial ecosystem.

The Pitch: NOOE Vision and Appeal

NOOE, founded by entrepreneurs Piyush Suri and Neetica Pande, has garnered attention for its Scandinavian-inspired designs, minimalist aesthetics, and dedication to sustainability. The brand offers a range of lifestyle products, including desk sets and accessories that resonate with modern consumers seeking functional yet elegant solutions for their daily needs.

During their pitch, Suri and Pandey sought an investment of ₹50 lakh for a 1% equity stake, valuing NOOE at ₹50 Crs. They highlighted their design philosophy, commitment to quality, and plans for scaling the brand both domestically and internationally.

The Investment: A Record-Breaking Deal

Impressed by NOOE's vision and potential, Peyush Bansal offered ₹5 crore for a 51% controlling stake in the company, effectively valuing the brand at approximately ₹9.8 crore(~10 Cr).

• Financial Performance: In FY24, the Razorpay Limited demonstrated strong financial growth, with total revenue rising to ₹2,501 Cr, up from ₹2,282 Cr in FY23. Profit Before Tax improved significantly to ₹47 Cr from ₹10 Cr, while net profit soared to ₹34 Cr, compared to ₹7 Cr the previous year. Total assets also increased considerably, reaching ₹2,515 Cr, primarily driven by a substantial rise in current financial assets. Despite a rise in current liabilities to ₹1,708 Cr, non-current liabilities saw a slight decline.
  
  
• Operational Highlights: Operationally, the company received RBI authorization in December 2023 to function as an "Online Payment Aggregator," allowing for expanded merchant onboarding. Revenue segments benefitted through enhanced payment gateway commissions and value-added services, including an expansion into gift cards, software development, and marketing services. The organization has prioritized improving internal financial controls and invested significantly in technology and software to bolster growth in its services.
  
  
• Future Outlook: Looking ahead, the company aims to leverage its recent RBI clearance to expand merchant onboarding and increase transaction volumes. With a keen focus on compliance and regulatory adherence, the company anticipates improved profitability through better cost management and enhanced operational scale. The growth strategy also includes strengthening market positioning in payment aggregation and exploring international opportunities to diversify revenue streams.

Bollywood actor Vivek Oberoi has carved a unique niche for himself in the entertainment industry and the business world. With a reported net worth of Rs 1,200 crore, Oberoi's wealth is largely attributed to his astute business acumen and strategic investments.

• Starting his entrepreneurial journey at 19 with a tech startup, which he successfully sold to a multinational corporation by 22, Oberoi laid a strong foundation for his future ventures. His investment portfolio is diverse, encompassing equities, private equity, real estate, and co-founding multiple ventures, including the diamond company Solitario. 

• Despite facing setbacks in his acting career, he leveraged his financial independence to explore and succeed in various business ventures. Oberoi's story is about accumulating wealth and making smart, calculated moves that have positioned him among Bollywood's wealthiest actors. His success inspires aspiring entrepreneurs, demonstrating that with the right mindset and strategy, one can achieve remarkable success across different fields.
  

NOTICE is hereby given that the resolutions outlined below are proposed for approval by the members of Anand Rathi Wealth Limited (the “Company”). Members are to cast their votes electronically using a Postal Ballot through the remote e-voting process provided by the Company.

Ordinary Resolution:

1. Increase in Authorized Share Capital and consequent amendment to Clause V of Memorandum of Association:

To consider and, if thought fit, to pass, the following resolution as Ordinary Resolution:

The authorized share capital of the Company be and is hereby increased from the existing Rs. 25,00,00,000 (Rupees Twenty-Five Crores Only) divided into 5,00,00,000 (Five Crore) Equity Shares of Rs. 5/- each (Rupees Five only) to Rs. 50,00,00,000/- (Rupees Fifty Crores Only) divided into 10,00,00,000 (Ten Crore) Equity Shares of Rs. 5/- (Rupees Five Only) each.

2. Approval for issuance of Bonus shares:

To consider and, if thought fit, to pass, the following resolution as Ordinary Resolution:

The Board of Directors has approved the capitalization of up to ₹20,75,51,585 from the Securities Premium Account, Free Reserves, or other permitted reserves for issuing bonus equity shares. These bonus shares, valued at ₹5 each, will be fully paid and issued in a 1:1 ratio to equity shareholders whose names appear in the Register of Members on the Record Date. The bonus shares will increase the company’s paid-up capital accordingly.

3. Approval for Modification of earlier approved Material Related Party Transaction(s) between the Company and Anand Rathi Global Finance Limited:

To consider and, if thought fit, to pass, the following resolution as Ordinary Resolution:

The Company seeks approval to amend the terms of its material related party transactions with Anand Rathi Global Finance Limited (ARGFL), a Group Company and Related Party under relevant laws. This approval modifies Resolution No. 4 from the 29th AGM (June 15, 2024), increasing the monetary limit for the purchase of debentures/securities from ₹5,000 crores to ₹6,000 crores for FY 2024-25. The estimated revenue from this transaction is approximately ₹480 crores. The transaction will be conducted in the ordinary course of business, on an arm's length basis, and as per terms mutually agreed between ARGFL and the Company. This modification is based on the recommendations of the Audit Committee, the Board of Directors, and necessary approvals from members.

4. Approval for Material Related Party Transaction(s) with Anand Rathi Global Finance Limited:

To consider and, if thought fit, to pass, the following resolution as an Ordinary Resolution:

With the approval and recommendation of the Audit Committee and the Board of Directors, members of the Company authorize the Board (including any authorized Committee) or Key Managerial Personnel (KMP) to enter into Related Party Transactions (RPT) with Anand Rathi Financial Services Limited (ARFSL), the Company’s promoter and a Related Party under applicable laws. The total transactions will not exceed ₹9,000 crores per annum, with estimated annual revenue of approximately ₹675 crores, for the period covering FY 2025-26 and up to the 31st Annual General Meeting in 2026.

5. Approval for Material Related Party Transaction(s) with Anand Rathi Financial Services Limited:

To consider and, if thought fit, to pass, the following resolution as an Ordinary Resolution:

With the approval and recommendation of the Audit Committee and the Board of Directors, members of the Company authorize the Board (including any authorized Committee) or Key Managerial Personnel (KMP) to enter into Related Party Transactions (RPT) with Anand Rathi Financial Services Limited (ARFSL), the Company’s promoter and a Related Party under applicable laws. The total transactions will not exceed ₹3,000 crores per annum, with estimated annual revenue of approximately ₹225 crores, for the period covering FY 2025-26 and up to the 31st Annual General Meeting in 2026.