Lalithaa Jewellery Mart has submitted its draft red herring prospectus (DRHP) to SEBI, aiming to raise ₹1,700 crore through an initial public offering (IPO).
The public issue will comprise a fresh equity issue amounting to ₹1,200 crore and an offer-for-sale (OFS) worth ₹500 crore by promoter M. Kiran Kumar Jain. As outlined in the filing, a portion of the IPO will be reserved for eligible employees, who will also be offered shares at a discounted price. The company is seeking regulatory clearance to proceed with the listing.
Wipro Shifts West Asia HQ to Riyadh, Expands Regional Footprint
Wipro Ltd. has announced the relocation of its West Asia regional headquarters from Al Khobar to Riyadh, strengthening its presence in Saudi Arabia. The move marks a strategic step in the company’s regional growth, adding to its existing offices in Riyadh, Jeddah, Jubail, and Al Khobar.
As part of its broader expansion efforts, Wipro has also entered into a memorandum of understanding with Prince Mohammad Bin Fahd University (PMU) to set up a Center of Excellence (CoE) in Riyadh. The initiative aims to foster innovation and collaboration in key technology areas, reinforcing Wipro’s long-term commitment to the region.
