16 Sep 2025

Kerala has expressed concern over the upcoming GST rate cuts, warning that the state could lose INR 8,000-10,000 crore every year. Finance Minister KN Balagopal welcomed the move to two slabs of 5% and 18% but stressed that without a compensation mechanism, states will struggle to fund welfare programmes. Goods alone are expected to contribute about INR 6,300 crore of the revenue loss. Kerala also pointed out that its consumption basket is more skewed toward higher-rate items, making the impact more severe compared to the national average.Read more

16 Sep 2025

The International Finance Corporation is set to gain substantial returns from Tata Capital's USD 2 billion (INR 17,000-17,200 crore) IPO by selling 3.58 crore shares from its long-term stake. IFC first invested in Tata Capital's cleantech business in 2011, which has since grown into a major financier with over 500 renewable projects and more than 22,400 MW of capacity supported. With Tata Sons holding nearly 89 per cent, the IPO will include both fresh shares and an offer for sale. Proceeds will be used to build capital and drive lending growth, while fulfilling RBI's listing requirement.Read more

16 Sep 2025

The National Highways Authority of India (NHAI) announced that Insurance Surety Bonds (ISBs) have crossed INR 10,000 crore in use since their launch in 2022. Introduced as an alternative to bank guarantees, ISBs let contractors pay premiums to insurers instead of providing collateral, easing financial pressure. By July 2025, around 1,600 bid security bonds and 207 performance bonds worth INR 10,369 crore had been issued. Early adoption included key Delhi-Mumbai Expressway packages. A workshop in New Delhi reviewed progress and encouraged wider use, with the Finance Ministry confirming ISBs and electronic bank guarantees will be treated on par with traditional guarantees.Read more

15 Sep 2025

SEBI has reclassified Real Estate Investment Trusts as equity for mutual fund and specialized fund investments, while retaining InvITs under the hybrid category. The move is intended to boost liquidity, simplify fund flows, and align Indian REIT regulations with international norms. Industry associations and listed REITs such as Brookfield India, Embassy, Mindspace, and Knowledge Realty Trust have welcomed the decision, highlighting that it will expand investor participation and encourage more listings. India currently has five listed REITs, which together have distributed more than INR 24,300 crore to unitholders and are offering yields of 6-7.5 per cent.Read more

15 Sep 2025

The Bombay High Court has provided significant relief to real estate developers by ruling that Goods and Services Tax (GST) on construction services under Joint Development Agreements (JDAs) is payable only upon transfer of ownership through conveyance, and not at the time of signing the agreement. The judgment came in a case involving Provident Housing, which had challenged a tax demand and sought a refund of INR 7 crore deposited under protest. Developers had argued that the earlier interpretation forced them to bear an 18% GST burden upfront, often without input tax credit, inflating project costs and ultimately impacting homebuyers. This clarity is expected to streamline redevelopment deals, ease financial strain, and improve affordability in land-scarce urban markets.Read more

15 Sep 2025

Mumbai-based investment firm Skybridge Ventures LLP has acquired a 24.5 per cent stake in India Home Loan Ltd through an off-market transaction, acquiring over 34.99 lakh shares. The move underscores the firm's confidence in India's affordable housing and retail finance sectors. India Home Loan Ltd has developed a strong platform targeting underpenetrated markets, with revenue rising to INR 13.60 crore in FY25 from INR 12.02 crore in FY24. Skybridge Ventures aims to support the company's next phase of growth, highlighting the potential of affordable finance in India's expanding housing sector.Read more

15 Sep 2025

Mindspace Business Parks REIT secured commitment bids worth INR 6 billion (USD 67.97 million) through a two-year bond issuance, carrying a quarterly coupon of 7%. The bids were accepted after the company invited commitments from bankers and investors earlier in the day. Alongside this transaction, several other major corporates, including Kotak Mahindra Prime, Bajaj Finance, and Tata Capital, were also reported to have raised funds through debt issuances with varying tenures and coupon rates, reflecting robust activity in the corporate bond market.Read more

14 Sep 2025

Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, has launched operations in Karnataka with a target to disburse INR 60 crore in its first year. The company plans to establish 8-10 branches across Tier II and III towns, focusing on small business loans and affordable housing finance. This move aligns with government efforts to boost affordable housing and aims to meet growing demand for credit among underserved customers in the state. The company has a strong track record in Tamil Nadu and Andhra Pradesh, making this expansion a strategic step in its Emerging Business segment.Read more

13 Sep 2025

The Maharashtra state cabinet has approved an INR 2,000 crore loan from Housing and Urban Development Corporation Ltd (HUDCO) to fund urban infrastructure development across the state. The loan will support water supply and sewage projects in several municipal corporations, including Chhatrapati Sambhajinagar, Nagpur, and Mira Bhayandar. It will also contribute to initiatives under the Amrut 2.0, Swachh Bharat Mission 2.0, and Maharashtra Golden Anniversary Urban Upliftment Mission. The state aims to ensure timely project completion and improve urban services in growing cities.Read more

12 Sep 2025

Kerala has informed the 16th Finance Commission that the state may face a revenue shortfall of INR 8,000 to 10,000 crore due to the GST rate rationalisation that introduces two slabs of 5 per cent and 18 per cent later this month. Of this, about INR 6,300 crore is linked to goods tax, while INR 2,500 crore is expected from losses in the export sector because of higher US tariffs. The state has requested compensation and highlighted its declining share in the divisible pool, which has dropped from 3.87 per cent to 1.92 per cent over successive Commissions.Read more