27 Jun 2025

Fintech major Pine Labs, backed by Peak XV Partners and Temasek, has filed its draft red herring prospectus with SEBI to launch its much-anticipated IPO. The offering includes a fresh equity issue worth INR 2,600 crore and an offer for sale exceeding 14.78 crore shares by existing investors, including PayPal, Mastercard, and Actis. The company intends to use part of the proceeds to repay debt and invest in IT infrastructure, digital expansion, and subsidiaries abroad. A potential INR 520 crore pre-IPO placement may reduce the fresh issue size.Read more

27 Jun 2025

Ranchi Municipal Corporation is facing a significant revenue shortfall, with over 70,000 property owners defaulting on holding tax payments, resulting in a gap of around INR 20 crore. Despite setting a target of INR 83 crore for the previous financial year, only about INR 80.64 crore was recovered. To address the deficit, the civic body is intensifying enforcement efforts, including water and waste service disconnections, reassessment of vacant plots, and identification of misused properties. A 10% rebate is also being offered for timely payments made in the current quarter, alongside digital and doorstep payment services to encourage compliance.Read more

27 Jun 2025

Arbour Investments has entered South India with a INR 105 crore investment in ELV Projects' Highgarden and Kingsland developments in Whitefield, Bengaluru. The projects span 11.74 lakh sq. ft. with 596 units, slated for completion by late 2026. Whitefield's strong infrastructure and soaring property values make it a strategic growth hub. Arbour's first INR 20 crore tranche reflects trust in ELV's execution capabilities. The alliance underscores Arbour's focus on transparency and performance-driven developers. ELV's Chairman E. Bhaskar sees this as a benchmark-setting moment in mid-premium housing. Arbour, managing over INR 600 crore, continues scaling its Capital-to-Consumer real estate model across emerging urban markets.Read more

27 Jun 2025

The Maharashtra cabinet has approved INR 20,000 crore to resume land acquisition for the 800-km Shaktipeeth Expressway, which will link Pavnar in Wardha to Patradevi at the Goa border. Funded through a HUDCO-backed loan, the project aims to cut Nagpur-Goa travel time from 20 to 8-10 hours and will connect 18 pilgrimage and heritage sites. Estimated to cost INR 84,000-86,000 crore, the project faces renewed farmer protests over compensation and displacement. Land measurement is to conclude by August, with acquisition targeted for December. Modeled on the Samruddhi Mahamarg, it's part of MSRDC's larger push to fast-track key infrastructure corridors statewide.Read more

27 Jun 2025

Ashok Leyland, the flagship brand of the Hinduja Group and one of India's top commercial vehicle manufacturers, has announced plans to add over 50 new touchpoints in Delhi and North India this year. This move is part of the company's strategy to deepen its regional footprint and tap into rising demand driven by economic expansion and infrastructure growth. Already operating nearly 300 channel outlets in the region, Ashok Leyland has also achieved a market share gain of 6.5% over the past three years in the Medium and Heavy Commercial Vehicle (M&HCV) segment.Read more

26 Jun 2025

An audit by Gurugram's Municipal Corporation (MCG) uncovered that ownership details for 34 properties-owing INR 97.2 crore in property tax-are missing, making recovery legally impossible. The city's total outstanding property tax has surged to INR 280.6 crore, with additional arrears in fire tax (INR 18.4 crore) and development charges (INR 35.6 crore). Amid criticism at a recent MCG House meeting, officials vowed to retrieve records from the revenue department and pursue legal recovery. To improve collections, the MCG is conducting door-to-door surveys, hosting correction camps, and enhancing its online system to ensure accurate records and close the revenue gap.Read more

26 Jun 2025

In a string of notable developments across finance, insurance, and FMCG, Bajaj Finserv introduced a new small-cap fund aimed at quality investments amid market corrections, with its offer window approaching soon. ICICI Prudential Life rolled out a youth-focused market-linked plan, while Walko Food Company forayed into the artisanal dessert space by acquiring Meemee's Ice Creams. Meanwhile, Aseem Infrastructure Finance raised USD 80 million through its first external commercial borrowing and green loan, with DBS Bank leading the transaction from GIFT City.Read more

26 Jun 2025

Real estate firm Signature Global will raise up to INR 875 crore through secured, listed non-convertible debentures (NCDs) via private placement. The move, approved by the board, also includes a postal ballot to seek shareholder approval for increasing borrowing limits, creating securities, and amending the Articles of Association. Based in Gurugram, Signature Global ranked fifth among listed developers by sales bookings last year, posting INR 10,290 crore in FY24 sales. With a target of INR 12,500 crore in pre-sales for FY25, the company is doubling down on affordable and mid-income housing in the NCR, buoyed by strong post-IPO momentum and market confidence.Read more

26 Jun 2025

HDB Financial Services HDFC Bank's NBFC arm launched a landmark INR 12,500 crore IPO with a strong anchor book subscription of INR 3,369 crore at the top of the price band. Public interest surged, yet only about 1% was subscribed on day one, while the GMP hit 10%, reflecting strong market optimism. The company's robust financial base, vast branch network beyond metro areas, and strategic pricing referencing peer valuations underpin the IPO's broad appeal.Read more

26 Jun 2025

The Chandigarh UT administration has set a reserve price of INR 11,850 per sq yd for auctioning nearly 7 acres of land in Manimajra, aiming to revive its land monetisation strategy. The plots, spanning residential, commercial, and institutional use, will be auctioned online, with residential plots 1-5 offered on a freehold basis and others on a 99-year leasehold. The administration has also sought Union Cabinet approval to allot land at collector rate for constructing 3,930 self-financed apartments for UT employees. The Municipal Corporation expects to generate over INR 400 crore from an upcoming auction in nearby pocket 6.Read more