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In a regulatory filing, the company said it has signed agreements, last executed on August 18, to sell 49.6 lakh equity shares of IRSL, each with a face value of ₹10.

Profit before tax surged 167% to ₹138 crore, while cash PAT jumped 168% to ₹186 crore.

According to market research firm IQVIA, the US market for this formulation is estimated at around $94 million for the 12 months ending June 2025.

The claim was made for input tax credit (ITC) accumulated under the inverted duty structure.

The IPO is aimed at strengthening its manufacturing base and providing liquidity to its promoter shareholders.

The PPA will run for 25 years from the date of commencement.

The joint venture is structured as a 50:50 partnership, with REPL subscribing to 2,25,000 shares of USD 100 each in cash, giving it a 50% stake in GRSPL.

IHCL said this arrangement is capital-light and will operate on a lease model under the Ginger brand.

Vedanta reported a 12% decline in its net profit for the quarter ended June 2025 at ₹3,185 Crore. In the previous corresponding quarter.

As part of the project, the company will construct a state-of-the-art intake of 1,650 MLD capacity in addition to a Raw Water Pump House.