18 Sep 2025

SMBC has expanded its shareholding in Yes Bank by acquiring an additional 4.2% stake from Carlyle Group's affiliate for 51 billion yen (USD 349 million). The Japanese lender had recently concluded its earlier 20% purchase, which included 13.19% from SBI and 6.81% from seven other Indian banks. With approvals from the Reserve Bank of India and the Competition Commission, SMBC is now close to the permitted ceiling of 24.99%. SBI has received INR 8,889 crore from its divestment. SMBC also sold its 1.65% stake in Kotak Mahindra Bank to focus its India investment on Yes Bank.Read more

18 Sep 2025

India has lowered GST on renewable energy equipment from 12 percent to 5 percent, a step expected to reduce project costs and free up investment worth INR 1-1.5 lakh crore for adding the remaining 300 GW of renewable capacity by 2030. With 193 GW already installed, including 123 GW solar and 53 GW wind, the reform will make utility-scale and rooftop solar projects more affordable, benefit farmers under PM-KUSUM, and reduce procurement costs for DISCOMs. The policy is also expected to create jobs, support domestic manufacturing, and cut CO2 emissions significantly.Read more

18 Sep 2025

Adani Ports and Special Economic Zone (APSEZ) has announced a plan to invest INR 30,000 crore over the next two years, primarily focusing on Mundra, Dhamra, and Vizhinjam ports. The investment will be directed towards port and terminal expansions, logistics, renewable energy, and marine services. APSEZ aims to achieve a cargo handling capacity of one billion tonnes annually by 2030, with 850 million tonnes from domestic ports and around 140-150 million tonnes from international assets. The company currently holds a 27% share of India's cargo handling capacity.Read more

17 Sep 2025

Easy Home Finance has secured long-term financing through the issuance of non-convertible debentures (NCDs) to Franklin Templeton Alternative Investment Fund (AIF), specifically the Franklin India Credit AIF. This strategic investment aims to bolster the company's capital base and facilitate its expansion into high-potential housing districts. Easy Home Finance, established in 2018, has already assisted over 15,000 families in achieving homeownership via its mobile-first lending platform and plans to double this number by FY26. Operating across 13 Indian states, the company is focused on bridging the credit access gap in Tier II and III towns and peri-urban clusters.Read more

17 Sep 2025

ICICI Bank has been issued a GST demand notice of INR 49.11 crore by West Bengal tax authorities, which includes tax, interest, and penalty components. The demand concerns services provided to customers maintaining specified minimum balances. The bank has previously received similar notices and has filed writ petitions challenging them. Since the cumulative amount crossed the materiality threshold, ICICI Bank disclosed the matter publicly. The bank is reviewing the order carefully and plans to contest it through further appeals. This case underscores the ongoing evaluation banks face regarding GST on certain banking services.Read more

17 Sep 2025

Sustainable home essentials brand EcoSoul Home has secured USD 20 million (INR 180 crore) in a Series B funding round led by Accel and Bajaj Financial Securities, with participation from Mohandas Pai's StartupXseed Ventures, JSW Ventures, and CK Birla Group. The funding, including USD 17 million equity and USD 3 million debt which will be used to double manufacturing capacity, launch a value-focused sub-brand, and expand into new international markets including Saudi Arabia, Oman, Qatar, Bahrain, France, Spain, Portugal, and Italy. The company's cumulative funding has now crossed USD 50 million.Read more

17 Sep 2025

Saatvik Green Energy, a Haryana-based solar panel manufacturer, has fixed a price band of INR 442-465 per share for its INR 900 crore initial public offering (IPO). The issue, opening on September 19, comprises a fresh issue of INR 700 crore and an offer-for-sale worth INR 200 crore by promoters. Proceeds will be used to expand solar PV module capacity at Odisha's Gopalpur Industrial Park and repay borrowings. With an operational capacity of 3.8 GW, Saatvik joins other renewable energy firms tapping the capital market amid India's clean energy push.Read more

17 Sep 2025

The Prayagraj Municipal Corporation (PMC) has approved a new sub-rule to simplify property name transfers. Instead of the previous percentage-based fees, fixed charges will now apply based on property value slabs. For example, properties valued up to INR 50 lakh will incur a flat fee of INR 5,000, significantly reducing costs for middle-class families. A 10% surcharge will apply if the transfer isn't completed within 90 days. The PMC will seek public feedback before finalizing the rule.Read more

16 Sep 2025

Fairfax India Holdings has agreed to sell its 51% stake in Saurashtra Freight Private Limited to Japan's Kamigumi for INR 662 crore, in a deal expected to close in the fourth quarter of 2025. Fairfax had acquired the stake in 2017 for INR 200 crore. Saurashtra Freight operates one of the largest container freight stations at Mundra Port in Gujarat, while Kamigumi, with global revenues near USD 2 billion, plans to expand its logistics operations in India. The company will integrate Saurashtra Freight as a subsidiary and explore international intermodal transportation opportunities.Read more

16 Sep 2025

India has secured a USD 126.42 million loan from the Asian Development Bank (ADB) to promote sustainable tourism and rural development in the Tehri Lake area of Uttarakhand. The project aims to improve infrastructure, sanitation, disaster preparedness, and climate resilience, benefiting over 87,000 residents and attracting around 2.7 million annual visitors. It includes support for women, youth, and small businesses, development of inclusive tourism facilities, and implementation of nature-based solutions to reduce flood and landslide risks. The initiative aligns with Uttarakhand's policy of boosting year-round tourism while ensuring community participation and resilience.Read more