08 Jul 2025

The Prayagraj Municipal Corporation (PMC) is set to launch a unified billing system for property, water, and sewer taxes, expected to go live next week. This initiative aims to simplify the tax process for residents and reduce administrative burdens by consolidating separate bills into one. The system, aligning with state government guidelines, will integrate all necessary data and offer flexible online and offline payment options. This move is part of PMC's efforts to enhance transparency, citizen engagement, and operational efficiency, promising a streamlined approach to municipal tax collection.Read more

08 Jul 2025

Marathon Nextgen Realty Ltd (MNRL) has raised INR 900 crore through a Qualified Institutions Placement (QIP) to support expansion across the Mumbai Metropolitan Region. The QIP, priced at INR 555.13 per share, drew strong interest from top institutional investors like Quant Mutual Fund and Kotak Alternate Asset Managers. Post-issue, FII and DII holdings stand at 9.9% and 16.66% respectively. The funds will bolster MNRL's development pipeline, reduce debt, and enhance its financial strength. CMD Chetan Shah called the raise a strong endorsement of the company's strategy. The move follows MNRL's amalgamation scheme aimed at consolidating assets and improving governance for future growth.Read more

08 Jul 2025

The central government has revised toll charges for national highway stretches with structures like tunnels, bridges, and flyovers, reducing rates by up to 50%. Under the amended NH Fee Rules, 2008, tolls will now be calculated using a new formula: either ten times the length of the structures added to the remaining section or five times the total highway length-whichever is lesser. For example, a 40 km structural stretch will now be tolled based on 200 km instead of 400 km. This change lowers travel costs for motorists while addressing high construction expenses, according to the Ministry of Road Transport and Highways and NHAI.Read more

08 Jul 2025

Whiteland Corporation has awarded INR 2,000 crore in construction contracts to Ahluwalia Contracts and Kalpataru Projects for its premium housing project on Dwarka Expressway. Spread across 20 acres, the project will feature around 1,700 apartments, with 1,400 units launched in the first phase. The developer has partnered with Marriott International to bring Westin Residences to Gurugram, which will manage the upcoming property. The total investment, including land and construction costs, is estimated at INR 5,500-6,000 crore.Read more

07 Jul 2025

MakeMyTrip has repurchased over 3.4 crore Class B shares from China-based Trip.com, reducing the latter's voting power from 45.34% to 16.90%. Following the transaction, three Trip.com-nominated directors resigned from MakeMyTrip's board, in line with the terms of the share issue. The board now comprises ten members, including three management directors, four independent directors, one Mauritius resident director, and two Trip.com-nominated directors. New appointees include Vivek N Gour, Savinilorna Payandi Pillay Ramen, and Group CFO Mohit Kabra. With 95.38 million shares now outstanding, the move marks a significant shift in MakeMyTrip's governance structure and reduces foreign influence in the Nasdaq-listed travel platform.Read more

07 Jul 2025

Unitholders of IRB InvIT Fund have approved the acquisition of 100% equity in three highway SPVs-Hapur Moradabad Tollway, Kaithal Tollway, and Kishangarh Gulabpura Tollway-from IRB Infrastructure Trust, at an enterprise value of INR 8,436 crore. The approval saw 96% support from unitholders. The assets, operating under the build-operate-transfer (BOT) model, will boost IRB Infrastructure Developers' operations and maintenance order book by INR 3,100 crore, bringing the total to INR 33,600 crore. IRB InvIT is the public infrastructure trust arm of IRB Infrastructure Developers, which is India's largest private toll roads and highways developer, with an asset base exceeding INR 80,000 crore across 12 states.Read more

07 Jul 2025

IndusInd Bank has opened its 12th all-women branch in India, located at Saveetha Dental College in Chennai. Spanning 1,300 sq ft, the branch is managed by five women officers and offers a full suite of retail banking services. The initiative aims to create a more inclusive, women-friendly banking environment. Separately, Aadhar Housing Finance launched its first all-women-operated branch in Indore, staffed by nine women. The company plans to open 12 more such branches nationwide this year. Aadhar currently operates 46 branches in Madhya Pradesh, with assets under management of INR 2,750 crore-projected to grow to INR 3,200 crore by the fiscal year-end.Read more

07 Jul 2025

India's fintech sector raised USD 889 million in H1 2025, marking a 26% drop from H2 2024, according to Tracxn. Despite the decline, early-stage funding rose 10% to USD 361 million, signaling investor confidence in innovation-led startups. Seed-stage and late-stage funding fell 27% and 41% respectively. India ranked third globally in fintech funding, behind the US and UK. Bengaluru led with 55% of funds, followed by Mumbai. Notable deals included Groww's USD 150 million acquisition of Fisdom. Top investors included Peak XV, Accel, and Bessemer. Accel led with 34 deals, while Blume Ventures added 7 new companies to its portfolio.Read more

07 Jul 2025

Bank of Maharashtra (BoM) reported a credit growth of 15.36% in Q1 FY26, with total credit reaching INR 2.41 lakh crore, up from INR 2.09 lakh crore in the same quarter last year. The bank also posted a 14.08% rise in deposits to INR 3.09 lakh crore. As a result, its total business grew 14.64% year-on-year to INR 5.46 lakh crore. The CASA ratio improved to 50.07% from 47.86%, indicating a stronger low-cost deposit base. BoM's credit-deposit ratio also rose slightly to 79.04% from 78.17%. These gains reflect robust performance in both lending and deposit mobilization during the April-June 2025 quarter.Read more

07 Jul 2025

Travel Food Services has raised nearly INR 600 crore from 33 anchor investors, including ICICI Prudential, Axis MF, and Abu Dhabi Investment Authority, ahead of its INR 2,000 crore IPO opening on July 7. The IPO, priced at INR 1,045-1,100 per share, is a full offer for sale by promoter Kapur Family Trust, with no proceeds going to the company. Operating under K Hospitality, the firm runs quick-service restaurants and 31 lounges across 14 Indian and 3 Malaysian airports, and recently expanded to Hong Kong. Its portfolio features global brands like KFC and Wagamama alongside Indian chains like Sangeetha and Bikanervala. Listings are planned on NSE and BSE.Read more