In a major push to bolster energy security, the Indian government is planning to establish strategic petroleum reserves (SPRs) at six new locations, aiming to expand the country’s crude oil backup capacity to meet 90 days of emergency demand, according to a report by Mint. New Sites Identified for Strategic Storage The proposed sites include:…
In a powerful message to aspiring business leaders, Reliance Industries Chairman Mukesh Ambani has urged entrepreneurs to prioritize societal impact over personal wealth, emphasizing that true success lies in serving a billion people, not chasing billions in profits. His remarks came during a candid conversation with McKinsey & Company for its Leading Asia series. “If…
An Essel Group entity, Konti Infrapower and Multiventures, has filed a petition with the National Company Law Tribunal (NCLT), Mumbai, against Kotak Asset Management Company (AMC), alleging failure to repay ₹12.99 crore under a 2019 agreement tied to non-convertible debentures (NCDs) backed by Zee Entertainment shares. What Sparked the Legal Battle? The dispute stems from…
The ₹852.53 crore Initial Public Offering (IPO) of Ellenbarrie Industrial Gases Ltd saw a tepid response on Day 2, with an overall subscription of 14% as of June 25, 11:42 AM, according to NSE data. The IPO, which opened on June 24 and closes on June 26, comprises a fresh issue of ₹400 crore and…
Reliance Industries Chairman Mukesh Ambani has unveiled a bold new vision for the conglomerate, declaring its transformation into a deep-tech and advanced manufacturing powerhouse. Speaking in an exclusive interview for McKinsey & Company’s Leading Asia series, Ambani emphasized that Reliance is no longer just a user of technology—it is now a net producer of innovation….
Capacit’e Infraprojects Ltd witnessed a sharp 4% rise in its stock price on Tuesday after securing a ₹621 crore contract for the redevelopment of Mumbai’s iconic Bhendi Bazaar. The Letter of Intent (LoI) was awarded by the Saifee Burhani Upliftment Trust (SBUT), marking the third repeat order from the trust to the construction major. Project…
HDB Financial Services, the non-banking financial arm of HDFC Bank, has launched its much-anticipated ₹12,500 crore initial public offering (IPO) today, June 25, 2025. Touted as the largest NBFC IPO of the year, the issue has generated significant buzz among retail and institutional investors alike. IPO Details at a Glance Anchor Investor Response Ahead of…
Biocon Ltd has successfully raised ₹4,500 crore through a Qualified Institutional Placement (QIP), a strategic move aimed at retiring structured debt and accelerating new product launches, according to CEO and MD Siddharth Mittal. Financial Restructuring to Boost Margins The QIP proceeds will be used to repay approximately $550 million in structured obligations, stemming from Biocon’s…
In a major turnaround, Vedanta Resources Ltd has reported a robust profit of $1,617 million for the fiscal year ending March 2025, reversing a $400 million loss from the previous year. The London-based natural resources conglomerate attributed the strong performance to favorable commodity prices, higher premiums, and operational efficiencies. Revenue Growth and Strategic Vision The…
In a landmark move for India’s sustainable finance landscape, engineering and infrastructure giant Larsen & Toubro (L&T) has successfully listed the country’s first ESG (Environmental, Social, and Governance) bonds on the National Stock Exchange (NSE), raising ₹500 crore through non-convertible debentures (NCDs). A Milestone in Green Financing The bonds were issued under the Securities and…
