The Securities and Exchange Board of India (Sebi) has restricted mutual funds (MFs) from participating in pre-IPO placements of equity shares. It clarified that MFs can invest in unlisted shares only as anchor investors ahead of an IPO.

An anchor allotment takes place a day before an IPO opens to the public, while pre-IPO placements are made in the months leading up to the listing.

Reliance Industries on Friday said it will adapt its refinery operations to comply with the latest sanctions imposed by the United States, the United Kingdom and the European Union on the import of Russian oil.

In response to the restrictions, RIL said it "remains fully committed to maintaining its longstanding and impeccable record of adherence to applicable sanctions and regulatory frameworks and will be adapting the refinery operations to meet the compliance requirements".

Prime Minister Narendra Modi on Friday visited Bihar's Samastipur district, where he kick-started his election campaign for the upcoming high-stakes Assembly elections next month, asserting that under Chief Minister Nitish Kumar, the National Democratic Alliance (NDA) will break all electoral records in Bihar.

The Telangana government on Friday announced an ex-gratia of ₹5 lakh to the kin of those from the state who died in a bus fire accident in Kurnool district of neighbouring Andhra Pradesh.

As per the directives of Chief Minister A Revanth Reddy, those injured in the accident would be provided with a financial assistance of ₹2 lakh, state Transport Minister Ponnam Prabhakar said.

Delhi Chief Minister Rekha Gupta on Friday said that cloud seeding is essential for the national capital as it could play a key role in controlling rising pollution levels during the winter season.

Speaking about a successful test run of the experiment carried out on Thursday, Gupta said, Cloud seeding is something that has never happened before. We want to carry out this trial over the city as it could help reduce air pollution.

Prime Minister Narendra Modi on Friday said the BJP-led NDA government was working to empower the youth and even the country's foreign policy was being shaped keeping the interest of the youngsters in mind.

In a recorded message at the 17th Rozgar Mela, he said India was the youngest nation in the world and the strength of its youth is one of the greatest assets.

At least 20 passengers were charred to death, while 12 others escaped with minor injuries after a private bus was gutted in a fire near Chinnatekur village in Kallur mandal, Kurnool District, Andhra Pradesh, early Friday, according to a report by Hindustan Times.

Federal Bank on Friday announced that New York-based Blackstone will pick up a 9.99 per cent stake by investing ₹6,196.51 crore through its affiliate Asia II Topco XIII, ending days of speculation around it and swelling the list of foreign players picking up shares in mid-sized Indian banks.

Under the investment, to be made through preferential issue on a private placement basis, the Kochi-based private lender will issue up to 272.97 million warrants each convertible into one fully paid-up equity share of face value ₹2, at a price of ₹227 per share (including a premium of ₹225).

Shares of RRP Semiconductor (formerly Known as G D Trading & Agencies Limited) hit a new high at ₹9,667 on the BSE in Thursday’s intra-day trade. In the past 18 months, the stock has zoomed 64,346 per cent from a level of ₹15 in April 2024. Currently, the company’s market capitalisation stood at ₹12,912 crore, the BSE data shows.

Since April 15, 2024, in the past 289 trading days, the stock has hit successive upper circuits on the BSE. The exchange changed the circuit filter from 5 per cent to 2 per cent w.e.f. October 3, 2024.

Prime Minister Narendra Modi will attend the upcoming Asean (Association of Southeast Asian Nations) Summit in Kuala Lumpur virtually due to the ongoing Diwali festivities, Malaysian Prime Minister Anwar Ibrahim said on Thursday.

In a post on X, Ibrahim said he received a call from PM Modi last night, during which the two leaders discussed the 47th Asean Summit to be held in Kuala Lumpur from October 26 to 28.

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