Business
Zydus Lifesciences Taps 3 Bankers For Rs 5,000-Crore QIP; Issue Likely In Early 2026
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Zydus Lifesciences has appointed three investment banks as advisers as it prepares to raise up to Rs 5,000 crore through QIP
Zydus QIP
Zydus Lifesciences (formerly Cadila Lifesciences) has appointed three investment banks as advisers as it prepares to raise up to Rs 5,000 crore through a qualified institutional placement (QIP), Moneycontrol reported, quoting industry sources.
According to the sources, the company aims to pare debt and pursue mergers and acquisitions (M&A) opportunities, particularly in its US specialty business.
“Jefferies, JP Morgan and IIFL Capital have been picked for the proposed capital raise,” one of the persons told Moneycontrol.
A second source confirmed the advisory syndicate and added that the QIP could be launched by the end of December or in early 2026, depending on market conditions.
During the Q25Y26 post-results earnings call, Zydus Lifesciences Managing Director Dr Sharvil Patel elaborated on the rationale behind the capital raise.
“So, the key objective is to deleverage our balance sheet by reducing our existing debt. Also, there are strategic moves which will enhance our financial ability and agility to strengthen our capital structure, positioning us better for future growth. The board has approved the enabling QIP resolution to allow us the flexibility to tap capital markets when required. More importantly, we have opportunities to look at the US specialty business and scale it up beyond Saroglitazar,” Patel said.
Saroglitazar is a liver disease drug for which Zydus plans to submit a US regulatory application in the first quarter of 2026, as per reports.
Patel further added, “There are opportunities in the international market, specifically Europe, and we are also evaluating innovative assets. The capital raise will give us the capability to execute on some of these.”
Zydus Lifesciences: Focus on reducing debt
On its net debt-to-EBITDA ratio, Patel noted: “Without any acquisition, we don’t want to cross one time, and for a short period we can go up to two times and then reduce net debt back to one time. That’s the range of spend we will look at.”
For FY25–26, the company reported revenues of Rs 15,116 crore and a net profit of Rs 5,774 crore, according to exchange filings.
A September 9 report by Crisil stated: “Gross debt stood at Rs 3,213 crore as of March 31, 2025 (Rs 804 crore as of March 31, 2024), on account of higher working capital requirements. Liquidity was superior at Rs 5,681 crore as of March 31, 2025.”
Crisil also noted: “Crisil Ratings expects the business risk profile of Zydus Life to continue improving, supported by double-digit revenue growth this fiscal and the next, led by continued traction in domestic and international markets, ramp-up in sales of new chemical entities and biosimilars, and benefits from recent acquisitions. The company is expected to sustain healthy operating margins of 25–26%, leading to higher cash accrual.”
Zydus Lifesciences: M&A strategy
Earlier this year, the company strengthened its medical technology portfolio by acquiring a majority stake in a French asset for around Rs 2,450 crore.
On March 11, Zydus Lifesciences said it had entered exclusive negotiations to acquire an 85.6 percent controlling stake in France-based Amplitude Surgical SA, a leading medical technology player specialising in lower-limb orthopaedic solutions.
In the consumer wellness segment, Zydus Wellness, a subsidiary of Zydus Lifesciences, acquired the UK-based Comfort Click Limited (CCL), one of the fastest-growing digital consumer healthcare platforms in the vitamins, minerals and supplements (VMS) space, which derives most of its revenue from e-commerce and D2C channels.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 20, 2025, 12:44 IST
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New Delhi: The government on Thursday announced new measures to ease rules for import of steel grades not covered under Quality Control Orders (QCOs), apart from approving extension of certain exemptions after reviewing the concerns submitted by industry participants.
In order to streamline the regulatory framework governing steel imports and to facilitate ease of doing business, the Ministry of Steel undertook a review of the existing import-related requirements. It also reviewed the requirement for obtaining clarification or No Objection Certificate (NOC) from the Ministry of Steel for import of steel grades not covered under any QCO.
“Based on the recommendations of the High-Level Committee on Non-Financial Regulatory Reforms (HLC-NFRR), it has been decided that steel grades not covered by any Quality Control Order will no longer require clarification or NOC from the Ministry of Steel,” according to an official statement.
All steel grades not covered under any QCO — across all HSN Codes relating to the Ministry of Steel — have been mapped on the Steel Import Monitoring System (SIMS) Portal. Importers may directly generate SIMS numbers for such non-QCO grades through the Portal without seeking any reference or approval from the Ministry of Steel, the statement added.
As per the Quality Control Orders issued by the Ministry of Steel, all grades of steel covered under the Orders are required to be imported only from manufacturers holding valid and operative BIS licences for the relevant grades.
In cases where import of QCO-covered steel grades is proposed from manufacturers who do not possess BIS licences, an exemption mechanism is already in place and such applications are examined by the Committee constituted on May 14, 2020.
The Committee, comprising representatives from the Bureau of Indian Standards (BIS), Directorate General of Foreign Trade (DGFT) and domain experts, will continue to examine applications and decide on granting exemptions for import of QCO-covered steel products manufactured by non-BIS licensee units, said the ministry.
Also, based on representations received from industry, the Ministry had earlier granted exemption from mandatory QCO compliance for specified Chapter 73 steel products for imports with Bill of Lading having shipped on board date on or before 31.10.2025.
“This exemption has now been extended to imports with Bill of Lading having shipped on board date on or before 31.03.2026,” according to the ministry. The ministry had earlier exempted three Indian Standards applicable to stainless steel flat products — IS 6911, IS 5522 and IS 15997 — for imports with Bill of Lading having shipped on board date on or before 31.12.2025.
“This exemption has now been extended to imports with Bill of Lading having shipped on board date on or before 31.03.2026,” it added.
Business
300 Seconds of Inactivity? Cognizant Calls It ‘Idle’, But Desis Have A Jugaad: ‘Fan Pe Mouse Laga Do’
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After the news broke out, people began reacting to it. While some criticised the move, others turned it into a meme-fest, with some even suggesting solutions to the problem.
The memes had trendy videos and Bollywood references too.(Photo Credit: Instagram)
IT giant Cognizant is reportedly set to introduce a new monitoring system to track employee activity on company-issued laptops and PCs. The company has begun training select managers on using tracking tools such as ProHance, which will monitor mouse and keyboard usage to gauge productivity. It will flag users based on inactivity levels.
Employees may be marked “idle” after 300 seconds of inactivity and tagged “away from system” if their device remains inactive for 15 minutes. Such tracking tools generally reveal login times, open applications and time spent on tasks, offering a minute-level breakdown of the workday. The company has told staff the data will be used to understand workflows and improve utilisation, not to evaluate individual performance at this stage.
🚨 An employee will be marked “idle” if there is no keyboard or mouse activity for more than 300 seconds (5 minutes) in Cognizant’s new monitoring system.If an employee’s PC or laptop remains idle for 15 minutes, the employee will be marked as engaged in “activities away from…
— Indian Tech & Infra (@IndianTechGuide) November 18, 2025
What Was The POV Of Cognizant?
A Cognizant spokesperson said, as quoted by the Mint, “We occasionally use various productivity measurement tools, a common industry practice, in select business process management or intuitive operations and automation projects, at the request of customers. The purpose is to help better understand the client process steps and related time metrics to assess process design inefficiencies.”
“Also, the tools are used only after obtaining the consent of employees and it is made clear that these are not used for performance evaluation. Additionally, these tools have no impact on the composition of teams engaged in these projects and any suggestion to the contrary is incorrect,“ they further mentioned.
And The Memefest Aftermath…
After the news broke out, people began reacting to it. While some criticised the move, others turned it into a meme-fest, with some even suggesting solutions to the problem.
One user shared a short clip, which showed the mouse tied to a table fan with a swing, and wrote, “My Dear @Cognizant bandhua Majdoors, here is a great Indian jugad to keep your mouse busy.”
A video recreated the ‘Arey Baap Re’ viral meme showing how the employees are getting reminded that they forgot to ‘show themselves’ active while having lunch.
The Internet also took a sly dig at Narayan Murthy, whose work-life balance comments had created a stir back in 2023, showing that, after all this time, he has found a worthy competitor.
Creativity went into another level when the Internet users were reminded of the ‘office hack’ scene of Vivek Oberoi from Grand Masti where he uses gram seeds and calls pigeons who come to his keyboard and start eating them. If not seen, one might feel that someone is typing on a keyboard constantly.
Amid all this, it will be interesting to see how the Cognizant employees settle with this new regime of work they will be going through in the upcoming days.
Do you think this is a good decision, or should authorities at the workplace be a little more lenient?
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
Delhi, India, India
November 20, 2025, 15:44 IST
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 "Auto Exports Fall 10.5% In Oct On S. Korea On Fewer Working Days: Data")
Seoul: South Korea’s auto exports decreased 10.5 per cent from a year earlier in October, largely due to fewer business days caused by the extended Chuseok holiday, data showed on Thursday.
The value of outbound shipments of automobiles came to $5.5 billion last month, compared with $6.2 billion the same month last year, according to the data from the Ministry of Trade, Industry and Resources, reports Yonhap news agency.
The value of accumulated auto exports from January to October, meanwhile, reached an all-time high of $59.6 billion. The ministry said October exports were weak due to the fall harvest Chuseok holiday that fell in early October, unlike in 2024 when the traditional holiday fell in September.
Auto exports in September jumped 16.8 per cent on-year, the ministry said earlier. By destination, exports to the United States plunged 29 percent on-year to $2.12 billion in October, apparently due to the 25 per cent import tariffs imposed on Korean cars by the Donald Trump administration.
The Trump administration is expected to lower the tariff on Korean cars to 15 per cent as agreed in its trade deal with South Korea after the Seoul government submits a special bill to the National Assembly on the country’s planned $350 billion investment in the U.S. under the bilateral trade agreement reached late last month.
Finance Minister Koo Yun-cheol said Wednesday the government plans to submit the bill before the end of this month, which he said would allow local automakers to enjoy the reduced tariff rate retroactively from the start of the month of its submission.
Shipments to the European Union dipped 2.1 per cent to $746 million last month, and those to the Middle East contracted 13.5 per cent to $403 million. On the other hand, exports to Asia jumped 42 per cent on-year to $802 million, while shipments to Latin America advanced 23.7 per cent to $290 million.
By type, exports of eco-friendly cars, such as electric vehicles (EVs), hybrid cars and hydrogen cars, gained 0.9 per cent from a year earlier to 64,427 vehicles last month, amounting to a combined value of $2 billion.
In detail, shipments of hybrid cars climbed 3.9 per cent to 42,683 vehicles, and EV exports inched up 0.3 per cent to 19,247 units. Exports of plug-in hybrid cars dropped 30.8 per cent to 2,492 units.
At home, sales of automobiles went down 12.8 per cent on-year to 127,000 units in October.
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