02 Jul 2025

Kalpataru Projects International Limited (KPIL) has announced fresh contracts worth INR 989 crore in the power transmission and distribution (T&D) sector. This development pushes the company's cumulative order intake for FY26 to INR 7,150 crore. The new awards, secured jointly by KPIL and its international subsidiaries, reflect growing global demand for grid infrastructure. KPIL's MD & CEO highlighted the company's end-to-end capabilities in the T&D EPC space, citing its consistent growth and robust global presence as key factors in securing these wins.Read more

02 Jul 2025

The Noida Authority is challenging a state government order that lets Gardenia Aims Developers use auction proceeds from 122 sealed flats to meet its 25% upfront payment for dues on a stalled Sector 46 project. The May 29 directive also allows the restoration of a 150-acre commercial plot without fees. The Authority claims this contradicts its December 2023 policy, which requires builders to deposit dues first for relief eligibility. Gardenia owes INR 692 crore and hasn't paid the demanded INR 140.5 crore. The issue is now in court, with the Authority seeking a policy review to ensure alignment with its stalled project resolution framework.Read more

02 Jul 2025

Wakefit Innovations, a Bengaluru-based home and sleep solutions company, has filed its Draft Red Herring Prospectus with SEBI for an Initial Public Offering (IPO) to raise up to INR 468.22 crore. The IPO comprises a fresh issue and an Offer for Sale by existing shareholders, including promoters. Funds are set aside for retail expansion, machinery, marketing, and debt repayment. The company, founded in 2016, reported INR 971.08 crore revenue and a net loss of INR 8.81 crore in 9M FY25. Operating five manufacturing units, Wakefit aims to boost its omnichannel presence in India's growing home furnishings market, projected to reach INR 5.2-5.9 trillion by 2030.Read more

01 Jul 2025

The Gujarat government has approved an 80% waiver on stamp duty for property transfers conducted through allotment letters or share certificates by housing societies, associations, and non-trading corporations. This relief, sanctioned under Section 9(a) of the Gujarat Stamp Act, 1958, is intended to ease the financial burden on lower- and middle-income families. Only 20% of the original duty, along with any applicable penalties, will now be payable, significantly lowering transaction costs for property buyers using these documentation routes.Read more

01 Jul 2025

The Chandigarh Municipal Corporation has sanctioned INR 10.25 crore for essential infrastructure development on a 7-acre plot in Manimajra's Pocket 6, ahead of a major land auction. This parcel, part of a 7.5-acre area divided into five plots, will be auctioned on a freehold basis, with reserve prices ranging from INR 125 crore to INR 217 crore. The scope of works includes sewerage, water supply, internal roads, horticulture, electrical systems, and a service duct. The collector rate has been pegged near INR 796 crore, and all internal services will be maintained by the successful bidders post-auction.Read more

01 Jul 2025

Infra.Market has secured an additional $50 million from MARS Growth Capital, extending their existing $100 million deal by five years and raising MARS's total commitment to $150 million. Earlier this year, the Mumbai-based building materials platform also raised $125 million in a Series D round from global investors. Founded in 2016 by Souvik Sengupta and Aaditya Sharda, Infra.Market offers over 15 product categories, including concrete, steel, plywood, modular kitchens, and appliances, serving both institutional clients and retail outlets. The new funding will help fuel its expansion plans as it aims to become a leading construction materials brand from India, reflecting strong investor confidence.Read more

01 Jul 2025

Embassy Office Parks REIT has raised INR 1,550 crore through a mix of non-convertible debentures and term loans to refinance its existing liabilities. The fresh capital is expected to reduce annual interest costs by around 113 basis points. The funding includes INR 750 crore via debentures at a 6.97% coupon and INR 800 crore through a 15-year bank loan at a floating rate of 7.40%. This move aligns with the company's long-term strategy to strengthen its balance sheet and support future expansion across its office parks portfolio in major Indian cities.Read more

01 Jul 2025

Pine Labs, a digital commerce and payments company backed by Temasek, has filed draft papers with SEBI for its planned IPO. It intends to raise INR 2,600 crore via fresh equity, while existing investors will sell over 14.78 crore shares through an offer for sale. The funds will go toward debt repayment, upgrading IT and cloud infrastructure, technology development, expanding digital checkout services, and strengthening subsidiaries in Singapore, Malaysia, and the UAE. For 2024, Pine Labs processed INR 7,53,105 crore in gross transaction value across 3.97 billion transactions, reported INR 1,208 crore revenue, and a INR 26.14 crore profit. It serves 9.15 lakh merchants, 666 brands, and 164 financial institutions.Read more

01 Jul 2025

The Indian government plans to ease rules for finance companies in GIFT City, its International Financial Services Centre, to boost financial activity and global appeal. The Ministry of Corporate Affairs has proposed extending regulatory exemptions under Section 186 of the Companies Act, 2013-currently given to RBI-registered NBFCs-to firms registered with the International Financial Services Centres Authority (IFSCA). Section 186 governs limits on inter-corporate loans, guarantees, and investments. This change would make it easier for GIFT City firms to borrow and lend across companies. Public feedback is open until mid-July. The move aims to strengthen GIFT City's competitiveness as a global financial hub.Read more

30 Jun 2025

The Gujarat government has fixed the annual house tax at INR 200 for all rural homes built under PMAY-Gramin and similar housing assistance schemes. This tax rate, which will remain unchanged for the next four years, aims to protect economically weaker households from arbitrary increases by local Gram Panchayats. The policy was formally notified by the Panchayat, Rural Housing, and Rural Development Department and is part of Chief Minister Bhupendra Patel's broader push for structured rural governance and affordability. Officials plan to reassess the tax structure after the four-year period, based on its ground-level impact.Read more