Manipal Hospitals IPO, SEBI’s Axis fine, Infosys CEO pick

Manipal Health Enterprises will raise up to ₹9,275 cr, using most of the fresh capital to clear about ₹7,500 cr of debt. The debt‑paydown frees leverage for acquisitions and greenfield projects, while retaining cash for growth, as the IPO opens July 29 with a ₹560‑590 price band.

SEBI slapped a ₹7.4 crore penalty and market bans on ex‑Axis Mutual Fund chief dealer Viresh Joshi and four accomplices after proving they leaked trade plans to a Dubai trader who front‑ran the fund, pocketing ₹30.56 crore illicit gains. The case underscores the regulator’s crackdown on insider‑trading in India’s mutual‑fund sector.

The National Stock Exchange will launch a cash‑settled natural gas futures contract (symbol NATGASIND) tied to the IGX Gujarat hub price on July 27. The 250 mmBtu unit contract aims to bring transparent, India‑centric price discovery to the domestic gas market, with NSE Clearing handling settlement and risk management.

Jindal Steel has reappointed Vidya Rattan Sharma as managing director, ending a period of rapid CEO turnover. It also hired former Hindustan Zinc CFO Sandeep Modi, former Vedanta Aluminium COO Rajiv Kumar, and ex‑IndiGo CHRO Sukhjit Pasricha to run finance, operations and HR, signaling a move toward seasoned leadership.

Infosys announced a seamless CEO handover, naming long‑time executive Ashiss Dash to take over in April 2027. The board says his deep experience in energy‑services and his AI vision will steer the firm through slowing growth and rising automation. The move signals a bet on continuity, culture, and AI‑driven transformation.

Adani Energy Solutions said it won an 85 billion‑rupee ($880.8 million) interstate transmission project in Andhra Pradesh to supply power to planned green hydrogen and ammonia facilities. The deal expands the company's renewable‑energy infrastructure and underpins India’s push for large‑scale hydrogen production, cutting future carbon emissions.

In its July State of the Economy bulletin, the RBI said rising edible‑oil prices are being driven by increased biofuel demand, singling out Indonesia’s shift to a 50% palm‑oil biodiesel blend (B50). The move tightens supplies for India, the world’s biggest edible‑oil importer, and adds pressure to food‑inflation headlines.

India’s new policy widens the mandatory use of domestically made solar cells to all renewable projects by 2027, cutting off the profit gap that module manufacturers have been exploiting by buying cheaper imported cells. Cell makers like Premier Energies and Tata Power currently earn 14‑15% higher EBITDA on cell sales, a margin soon to disappear.

ICICI Bank sold a $1 billion five‑year dollar bond at a 5.46% coupon, 100 bps over U.S. Treasuries, making it the biggest private‑sector dollar issue in India in 14 years. The deal drew $3 billion of bids, underscoring strong overseas demand, and will fund the bank’s general corporate needs. The pricing, tighter than peers, reflects RBI’s new low‑cost hedging facility.

From August, Indian banks and insurers will use a Central Know‑Your‑Customer 2.0 system that pulls vetted data from a national registry with a one‑time customer consent. Mutual funds and brokerages are slated to join later this year, aiming to cut duplication, boost inclusion and curb fraud.