Thembenika Madlopha-Mthethwa, the KwaZulu-Natal MEC for agriculture and rural development, visited Vuka Supply Farm in uMbumbulu, located within the eThekwini Municipality, conducting Operation Siyahlola.
Thembenika Madlopha-Mthethwa, the KwaZulu-Natal MEC for agriculture and rural development, visited Vuka Supply Farm in uMbumbulu, located within the eThekwini Municipality, conducting Operation Siyahlola.
During her inspection, she noted the successful transformation of what was once an unproductive school building into a flourishing agricultural venture, which she suggested could be duplicated in other regions. The primary objective of her visit was to evaluate the agricultural operations and the assistance provided to local farmers.
As part of the department's support initiative for farmers, the site received essential equipment, including a tractor and ten tunnels, which have since been installed to enhance output. Furthermore, the department contributed manure and fertilizer suitable for all seasons.
Madlopha-Mthethwa stated that Operation Siyahlola aims to verify that governmental resources effectively reach the populace on the ground. She emphasized that the provided equipment and supplies must be utilized to boost food production and generate employment opportunities for residents of uMbumbulu.
She subsequently instructed district directors to use this project as a benchmark for other areas where vacant schools might be converted for agricultural purposes. The MEC highlighted the significant return on the R3.6 million investment, noting that the project possesses nearly all the necessary tools for a farmer. Beneficiary Mondli Shangase has also added his own borehole to the farm.
The MEC stressed that existing classrooms could be repurposed as workshops and storage areas for agricultural activities. The Agribusiness Development Agency has already identified a suitable recipient for such projects, positioning this venture as a model for others to emulate. Five recent agricultural graduates were assigned to the project to ensure its long-term viability and provide technical guidance.
Mondli Shangase, who directs Vuka Supply Farm, expressed deep appreciation to the department for addressing his situation. He confirmed receiving ten tunnels, a tractor for the 16 hectares, and various farming implements. Shangase added that the department also facilitated the placement of agricultural graduates, leading to the hiring of ten individuals from the local community.
He concluded that their aim is to combat food insecurity and decrease unemployment locally. The farm's fresh produce and grain products are currently being supplied to major retailers throughout Durban.
The Deputy Minister of Construction and Housing and Communal Services of Uzbekistan, Tokhir Alimatov, held a meeting with a delegation from China. The goal of the negotiations was to discuss the integration of modern construction technologies aimed at increasing the seismic resistance and energy efficiency of buildings.
The Chinese side presented a number of advanced engineering solutions and innovative building materials. Among the demonstrated developments were lightweight, non-combustible thermal insulation panels for exterior walls, as well as insulation coatings and inter-floor soundproofing systems. Additionally, energy-saving materials for industrial pipelines were presented.
Participants in the meeting paid special attention to technologies for protecting structures from earthquakes. The Chinese delegation showed BRB (buckling-restrained brace) type seismic connections, which reduce the load on supporting structures during seismic events. Viscous fluid dampers (FV) and viscous fluid wall dampers (FVW), designed to absorb seismic energy, were also presented.
During the meeting, the parties exchanged experience in applying these technologies in China. Issues such as design, practical implementation, testing procedures, current regulatory requirements, and the functioning of earthquake monitoring systems were discussed. Following the negotiations, participants reviewed the possibilities of using energy-efficient materials and modern seismic protection technologies in Uzbekistan's construction industry, as well as their compliance with national technical standards and the potential for expanding bilateral cooperation in this area.
Signature Global Ltd reported a significant increase in its net debt during the first quarter of the current fiscal year, nearly doubling to 390 crore rupees compared to the end of March. This occurs against the backdrop of the company's plans for business expansion.
As of March 31, 2026, the company's net debt stood at 200 crore rupees. In regulatory filings presented on Tuesday, Signature Global stated that as of June 30, 2026, the company maintained cash and bank balances (including fixed deposits) amounting to 25.22 billion rupees, highlighting a solid financial foundation and providing sufficient flexibility to support future operations and growth.
During the same reporting period, the company recorded a 25% decrease in sales bookings, reaching 1,970 crore rupees, attributed to reduced volumes. In the previous year, similar bookings amounted to 2,640 crore rupees.
For the current fiscal year, Signature Global, based in Gurugram, has set a pre-sale forecast of 10,000 crore rupees. In the 2025-26 fiscal year, the company realized projects worth 8,250 crore rupees and became the fifth largest listed real estate firm by sales booking volume.
According to the latest operational update, 226 housing units were sold in the April-June 2026-27 quarter, a sharp drop compared to 778 units in the corresponding period last year. The total area sold from April to June was 0.72 million square feet, whereas it was 1.62 million square feet the previous year.
Despite the decline in volumes, the average revenue per square foot increased to 17,093 rupees in the first quarter due to the company's focus on branded luxury homes. For the entire fiscal year 26, the average figure was 15,250 rupees per square foot. Furthermore, in the June quarter, the company received 670 crore rupees from customers, which is 28% less than the previous year.
Pradip Kumar Aggarwal, Chairman of Signature Global, noted that strong pre-sales and reliable collections in the June quarter indicate continued confidence in the brand, execution efficiency, and sustained demand for the company's projects. He emphasized that the successful launch of the first phase of the 'Tonino Lamborghini Residences' project on the Southern Peripheral Road demonstrated high buyer interest in brands.
Earlier in April, Signature Global entered into an agreement with the Italian lifestyle brand Tonino Lamborghini to develop a luxury residential complex in Gurugram with an investment of approximately 2,900 crore rupees. This project involves constructing 812 homes on a 12.4-acre plot. Signature Global, one of the country's leading developers, has already handed over 17.9 million square feet of property and has numerous projects under construction in various micro-markets of Gurugram. Earlier this year, the company also entered the commercial real estate market by partnering with the RMZ group from Bengaluru to execute a project in Gurugram.
The Initial Public Offering (IPO) of SBI Funds Management, the largest asset management company in India by Assets Under Management (AUM), garnered significant investor interest. The offering was fully subscribed on the second day of trading, Wednesday, July 15, 2026.
The issue, valued at ₹9,812.91 crore, which began on July 14, attracted applications for 161,241,418 shares against 124,563,536 shares offered for sale. According to NSE data, the total subscription reached 1.29 times by 12:00 PM on Wednesday.
Non-Institutional Investors (NIIs) demonstrated the highest demand, subscribing three times their allocated quota. Retail Individual Investors (RIIs) also showed good interest, subscribing at 1.05 times. Meanwhile, Qualified Institutional Buyers (QIBs) showed moderate interest, taking only 6 percent of their allocated share, as shown by NSE.
Harshal Dasani, Head of PMS at INVAsset PMS, remains optimistic about the IPO. He noted that the company manages mutual funds worth ₹12.51 lakh crore with a market share of 15.3 percent, dominates the PMS segment with a 39.7 percent share, managing ₹16.47 lakh crore in advisory mandates, and holds ₹4.05 lakh crore in passive ETF assets.
Dasani stated that at a valuation of 36–38 times FY26 earnings, the IPO is priced below the average of listed peers at 42 times. He believes this discount is justified by the lower revenue yield of 35 basis points, reflecting the predominantly passive nature of the business rather than franchise weakness. In his view, the company is a natural beneficiary of the long-term shift towards institutional and passive assets in Indian household savings, and the entry multiple leaves room for long-term growth as SIP flows normalize and the active equity portfolio improves. He called the offering a quality deal for the franchise at a reasonable price.
Brokerage firms, including Anand Rathi Research Team, Swastika Investmart, Arihant Capital, and Kantilal Chhaganlal Securities, also supported a positive outlook on the IPO, citing SBI Funds Management's leading position in the mutual fund industry, strong distribution network supported by SBI, robust profitability, and high operating margins.
The IPO is a fully offered Offer For Sale (OFS) of 171 million equity shares from promoters State Bank of India (SBI) and Amundi India Holding. The public offering was priced in the range of ₹545 to ₹574, with a lot size of 26 shares. The sale will remain open for subscription until July 16, 2026. Investors can apply for a minimum of 26 shares and multiples thereof.
At the upper price limit of ₹574 per share, a retail investor would require ₹14,924 to purchase one lot. A maximum investor can apply for 13 lots, or 338 shares, requiring an investment of ₹1,94,012. Shares are expected to be listed on stock exchanges on July 21, 2026, provided the IPO process is completed.
KFin Technologies acts as the registrar for the issue, and the lead managers are Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets. Since the issue is entirely an OFS, SBI Funds Management will not receive proceeds from the sale of shares; the proceeds will go to the sellers after deducting related issuance expenses and applicable taxes.
