08 Oct 2025

IRB Infrastructure recorded an 11 per cent increase in toll revenue for September 2025, reaching INR 557 crore from INR 502 crore a year ago. The MP Expressway in Maharashtra contributed the most, followed by Hyderabad's Golconda Expressway and the Ahmedabad-Vadodara Super Express Tollway. Newly added Lalitpur-Lakhnadon NH44 also showed revenue growth. Despite monsoon-related traffic challenges and temporary GST-related slowdowns, IRB maintained strong performance. The upcoming festive season is expected to further support toll revenue, reflecting the company's operational resilience and the steady performance of its integrated highway network.Read more

08 Oct 2025

The Asian Development Bank (ADB) has approved a USD 190 million loan to support the Indore Metro Rail Project, which aims to improve urban mobility, reduce emissions, and promote inclusive growth in Madhya Pradesh. The funds will finance an 8.62 km underground corridor with seven stations, connecting dense city zones to the airport. Designed with universal accessibility, the metro will include ramps, lifts, CCTV, and emergency systems. Expected to cut 12,414 tons of CO2 emissions annually, it will integrate with city buses and feeder networks for seamless connectivity. Implemented by MPMRCL and operational by January 2030, the project also advances transit-oriented development and gender-inclusive participation in transport planning.Read more

08 Oct 2025

Truhome Finance, formerly Shriram Housing Finance, is set to receive an additional INR 500 crore from its largest shareholder, Warburg Pincus, taking the total investment beyond INR 2,000 crore. The company plans to grow its loan portfolio aggressively, aiming for over INR 23,000 crore in assets under management (AUM) this fiscal year, with a target of INR 25,000 crore by June 2026. The lender is focusing on the self-employed segment, upgrading technology, expanding its branch network, and increasing its workforce, while keeping an IPO under consideration.Read more

08 Oct 2025

The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) has extended its property tax amnesty scheme until the end of October, offering a 50% discount on penalty charges. Originally launched in mid-July as the 'Freedom From Penalty' scheme, it provided higher waivers and helped recover around INR 100 crore in outstanding dues. Initially limited to residential properties, the scheme now includes commercial and industrial units. The civic body has urged property owners to settle their dues ahead of a strict collection drive planned after the amnesty period, reinforcing tax compliance and revenue generation.Read more

07 Oct 2025

Praxis Home Retail has received overwhelming shareholder approval to waive a related-party loan of INR 88.07 crore, including a principal of INR 85.28 crore and interest of INR 2.79 crore. With this step, the company enters FY2025-26 free of these obligations, reflecting strong confidence in its strategic direction. New investors, including Mathew Cyriac & Elimath Advisors Pvt Ltd and Subhash Phootarmal Rathod with associated entities, have acquired significant stakes. Supported by a revitalized management team and strengthened corporate governance, Praxis, operating 20 HomeTown stores across 18 cities, is poised for sustainable growth and long-term value creation.Read more

07 Oct 2025

Sobha Ltd recorded a 61% jump in its second-quarter sales bookings, reaching INR 1,902.6 crore, reflecting higher demand for its residential properties. Bengaluru contributed nearly 70% of sales, led by the Sobha Town Park project, while Delhi-NCR and Kerala regions also added substantial value, supported by festive season demand. For the first half of the fiscal year, Sobha achieved its best-ever H1 performance with sales of INR 3,981.4 crore. Despite declining housing sales volumes in major cities, leading branded developers like Sobha are capturing market share from smaller, unorganized players.Read more

07 Oct 2025

Niti Aayog has proposed a presumptive taxation scheme for foreign companies to provide clarity, simplify compliance, and safeguard government revenue. The think tank highlighted that unclear rules on permanent establishments (PE) create tax uncertainty and could affect investment inflows. The scheme allows companies to declare income at a prescribed rate without maintaining detailed books of account, with sector-specific rates and an option to file regular returns if actual profits are lower. The reform is aimed at aligning India's tax policy with its economic vision and improving its global business standing.Read more

07 Oct 2025

Steel Exchange India has secured a refinancing facility of INR 350 crore from a consortium of financial institutions, including Kotak Mahindra Investments Limited, Oxyzo Financial Services Limited, and Kotak Credit Opportunities Fund. INR 150 crore has already been used to prepay high-cost NCDs and a term loan, while the remaining INR 200 crore is set to acquire outstanding NCDs, pending approvals. The company expects the refinancing to ease interest costs, improve cash flows, and provide financial flexibility to support long-term growth. Steel Exchange India operates an integrated steel and power plant near Visakhapatnam.Read more

07 Oct 2025

Canara Robeco Asset Management Company has set a price band of INR 253-266 per share for its upcoming IPO, targeting a valuation of INR 53.05 billion ($597.9 million) at the upper end, according to Reuters calculations. The IPO, opening for retail investors on October 9 and for anchor investors on October 8, will close on October 13, with the stock expected to list around October 16. A joint venture between Canara Bank and ORIX Corporation Europe, the firm manages over INR 1 trillion in assets. The IPO will be a pure offer for sale of 49.8 million shares, with Canara Bank and ORIX reducing their stakes by 13% and 12%, respectively.Read more

07 Oct 2025

Anantam Highways Trust, backed by Alpha Alternatives, is raising INR 400 crores through an IPO to strengthen its INR 5,000-crore portfolio of road assets. The trust currently owns seven hybrid annuity model road projects built by Dilip Buildcon with 13 years of concession life left. With a right-of-first-offer agreement for 11 additional projects, assets from the Build India Infrastructure Fund worth INR 4,500 crores, and potential third-party deals, the trust has clear expansion prospects. IPO proceeds will be used for deleveraging, lowering its leverage ratio to 42 percent.Read more