Business
Co-op to open or refurbish dozens of stores amid cyber attack recovery
The Co-op has said it is pushing forward with a number of new stores and major refurbishments as it bounces back from a damaging cyber attack.
The retailer said 50 stores will be opened or re-opened by Christmas as it urged the Government to reform business rates ahead of the autumn Budget.
It said reforms will be “vital” to encourage further high street investment as it continues with its own expansion ambitions.
The latest slew of openings will take the Co-op’s store openings and refurbishments to more than 200 sites for the latest financial year.
It added that the programme will have seen the business invest more than £200 million across the store estate.
The Co-op will open 14 new stores, which include it becoming the first permanent retailer at the new Brent Cross Town development in London, five new micro-format ‘on the go’ stores and a new franchise store at Lancaster University.
The remainder of the 50 stores will consist of sites which have been closed for a lengthy period to undergo an extensive refurbishment and will re-open with a new look and updated product range.
Growth efforts come as the group, which has around 6.9 million member-owners, continues to recover from a major cyber attack.
It said in September that the hack, which took place in April, will knock its annual earnings by around £120 million.
Meanwhile, it said the cyber attack, which left it with bare shelves and saw data stolen for all its members, impacted on sales by about £206 million.
The group said the hackers impersonated workers to trick employees into giving them access to their accounts.
They created a copy of one of the firm’s files but were unable to attack its platforms further and install ransomware.
On Monday, the group, which runs more than 2,300 food stores, made renewed calls for property tax reform and increased certainty from the Government ahead of the autumn Budget.
Shirine Khoury-Haq, Co-op Group chief executive, said: “We’re investing in stores and communities right across the UK because we believe in the future of the high street.
“But sustained growth needs certainty. Business rates reform is vital if retailers – especially the 99% who run small stores – are to plan with confidence, protect jobs and keep local economies thriving.
“Co-op is showing what’s possible when businesses commit to communities.
“The Government now has an opportunity in the autumn Budget to do its part by delivering the reform that’s long been promised – giving every retailer, from small to large, the stability to invest and grow.”
Business
Apollo Techno Industries IPO Last Day: Issue Receives 50.63x Subscription; GMP Rises To 9.23%
Last Updated:
Unlisted shares of Apollo Techno Industries are trading at Rs 136 apiece in the grey market, which is 4.6% premium over the issue price of Rs 130, indicating weak listing.
Apollo Techno Industries IPO.
Apollo Techno Industries IPO GMP: The initial public offering (IPO) of Apollo Techno Industries Ltd (ATIL) has been closed today, Friday, December 26. The price band of the Rs 47.96-crore IPO has been fixed in the range of Rs 123 and Rs 130. On the final day of bidding on Friday, the IPO received a total of 50.63x times subscription, garnering bids for 12,42,53,000 shares as against 24,54,000 shares on offer.
Its retail category got a 44.81x subscription, while its non-institutional investor (NII) quota got a 98x subscription. Its qualified institutional buyer (QIB) category has received a 25.26x subscription.
ATIL is a manufacturer specialising in trenchless technology and foundation equipment for the construction industry
Apollo Techno Industries IPO GMP Today
According to market observers, unlisted shares of Apollo Techno Industries Ltd are currently trading at Rs 142 apiece in the grey market, which is a 9.23 per cent premium over the issue price of Rs 130. It indicates a weak listing. Its listing will take place on December 31, Wednesday.
The GMP had stood at 4.62 per cent in the morning.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Apollo Techno Industries IPO: More Details
The Apollo Techno Industries Limited IPO is a book-built issue worth ₹47.96 crore, comprising only a fresh issue of 0.37 crore equity shares. There is no offer-for-sale component in the issue.
The IPO opened for subscription on December 23, 2025, and will close on December 26, 2025. The basis of allotment is expected to be finalised on December 29, 2025, while the shares are scheduled to list on the BSE SME platform on December 31, 2025, subject to approvals.
The price band for the issue has been fixed at Rs 123 to Rs 130 per share. The lot size is 1,000 shares. Retail investors are required to apply for a minimum of 2 lots (2,000 shares), translating into an investment of Rs 2.60 lakh at the upper end of the price band. For HNIs, the minimum application size is 3 lots (3,000 shares), amounting to Rs 3.90 lakh.
Beeline Capital Advisors Pvt Ltd is the book running lead manager to the issue, while MUFG Intime India Pvt Ltd is acting as the registrar. The market-making duties will be handled by Spread X Securities Pvt Ltd.
Apollo Techno Industries reported strong financial growth in FY25. The company’s revenue rose 44 percent, while profit after tax (PAT) surged 327 percent for the year ended March 31, 2025, compared with the previous financial year.
Incorporated in 2016, Apollo Techno Industries operates in the manufacturing and technology space, with a focus on equipment used in the construction and infrastructure sector.
The company specialises in trenchless technology and foundation equipment, catering to complex construction requirements. Its product portfolio includes Horizontal Directional Drilling (HDD) rigs, Diaphragm Drilling Rigs, Rotary Drilling Rigs, along with associated spare parts.
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December 26, 2025, 10:51 IST
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Business
New BIS standard for incense sticks: Govt bans certain substances; flags ‘potential impact on human health’ – The Times of India
NEW DELHI: The government issued a notification announcing a new Indian Standard for incense sticks (agarbatti), laying down quality norms and specifying a list of substances prohibited for use in their manufacture.The standard has been developed by the Bureau of Indian Standards (BIS) to ensure safer products and promote responsible and sustainable practices in the incense stick industry, the minister for consumer affairs said in a statement released on National Consumer Day 2025.The ministry released a list of harmful substances. “This includes certain insecticidal chemicals such as alethrin, permethrin, cypermethrin, deltamethrin, and fipronil, as well as synthetic fragrance intermediates like benzyl cyanide, ethyl acrylate, and diphenylamine. Many of these substances are restricted or banned internationally due to their potential impact on human health, indoor air quality, and ecological safety,” it said.According to the notification, the standard classifies agarbattis into machine-made, hand-made, and traditional masala agarbattis, and prescribes norms for raw materials, burning quality, fragrance performance and chemical parameters. This, the ministry said, will ensure safer products and consistent quality for consumers.Agarbattis are deeply embedded in India’s cultural and religious life and are widely used in homes, places of worship, meditation centres.With rising global demand for incense products growing steadily in India and overseas, the international studies and regulatory developments, “particularly in Europe have raised concerns over the use of certain synthetic chemicals in fragranced products, including incense sticks,” the release stated.Some of these substances have been linked to respiratory irritation, allergic reactions, neurological effects and environmental harm when used repeatedly in indoor environments, it added.The standard has been developed by the Fragrance and Flavour Sectional Committee (PCD 18) of BIS after extensive consultations with stakeholders.India is the world’s largest producer and exporter of agarbattis. The industry is estimated at around Rs 8,000 crore annually, with exports worth nearly Rs 1,200 crore to over 150 countries, including the US, Malaysia, Nigeria, Brazil and Mexico.The sector supports a large network of artisans, micro-entrepreneurs and MSMEs, especially in rural and semi-urban areas, and plays a key role in generating employment, particularly for women.The government said the new standard is “expected to enhance consumer confidence, promote ethical and sustainable manufacturing practices, support traditional artisans, and improve access to global markets. The standard reinforces India’s commitment to protecting its cultural heritage while aligning indigenous industries with modern quality and safety expectations. Products complying with this standard can also carry the BIS Standard Mark, helping consumers make informed choices with confidence.“
A US judge has temporarily blocked the detention of British social media campaigner Imran Ahmed, who took legal action against the US government over having his visa removed.
The Center for Countering Digital Hate founder was among five people denied US visas after the Trump administration accused them of seeking to “coerce” tech platforms into censoring free speech.
The move brought a backlash from European leaders defending the work of organisations monitoring online content.
Mr Ahmed, a US permanent resident, had warned that being detained and possibly deported would tear him away from his American wife and child. Praising the judge’s decision, he told BBC News he would not be “bullied”.
Secretary of State Marco Rubio had said online that the individuals were blocked over concerns that they had organised efforts to pressure US platforms to censor and “punish American viewpoints they oppose“.
Mr Ahmed filed a legal complaint on Wednesday against officials including Rubio and US Attorney General Pamela Bondi over the decision to have him sanctioned.
In court documents seen by the BBC, US District Judge Vernon S Broderick said on Thursday he had granted Mr Ahmed’s request for a temporary restraining order.
The judge also temporarily blocked the officials from detaining Mr Ahmed without the chance for his case to be heard.
The BBC has contacted the state department and White House for comment.
When approached by AFP news agency, a state department spokesperson was quoted as saying: “The Supreme Court and Congress have repeatedly made clear: the United States is under no obligation to allow foreign aliens to come to our country or reside here.”
Mr Ahmed said: “I will not be bullied away from my life’s work of fighting to keep children safe from social media’s harm and stopping antisemitism online.”
His lawyer, Roberta Kaplan, said the speed of the judge’s decision was telling.
“The federal government can’t deport a green card holder like Imran Ahmed, with a wife and young child who are American, simply because it doesn’t like what he has to say,” she said.
In 2023, Mr Ahmed’s centre was sued by Elon Musk’s social media company after it reported on a rise in hate speech on the platform since the billionaire’s takeover of the firm, now called X.
The case was dismissed but an appeal is pending.
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