07 Dec 2025

The Bhanupalli-Bilaspur-Beri rail project in Himachal Pradesh has been halted because the state government has not released its committed INR 1,843 crore share. The central government has already spent INR 5,252 crore and completed most land acquisition, but further construction cannot proceed without the state's contribution. The Ministry of Railways recently conveyed that this delay also affects progress on the planned Bilaspur-Manali-Leh strategic rail corridor. Related projects in the region, including parts of the Nangal Dam-Talwara-Mukerian line, are also facing delays due to pending state support.Read more

07 Dec 2025

Park Medi World is entering the public markets with a Rs 920 crore IPO, valuing the hospital chain at INR 7,000 crore. The offering includes fresh shares and an OFS by promoter Ajit Gupta, with proceeds aimed at debt repayment, hospital expansion, medical equipment, and potential acquisitions. The hospital chain, the second largest in North India and the largest in Haryana, has grown its bed capacity to 3,250 and is undertaking major expansion projects across Ambala, Panchkula, and Rohtak. The IPO structure reserves shares for institutional, retail, and non-institutional investors.Read more

07 Dec 2025

Ludhiana Municipal Corporation sealed six buildings this week across Malhar Road, BRS Nagar, Ferozepur Road and Dugri Road, including a hotel, after owners failed to clear outstanding civic dues and were found with unauthorised constructions. Officials said prior notices had been ignored, prompting the action as part of a wider crackdown on illegal structures and unpaid charges such as change-of-land-use fees. The MC warned that any construction without approved building plans will face sealing or demolition and urged residents to regularise deviations. The drive follows earlier notices to unsafe and non-compliant buildings and will continue as the corporation steps up enforcement for safer, planned urban development.Read more

06 Dec 2025

The Supreme Court has ruled that leasing a residential property to a company that uses it as a hostel for students or working professionals does not attract GST. Upholding a Karnataka High Court decision, the Court said GST exemption depends on the property's actual use for long-term residential accommodation, not on whether the lessee personally lives there. The case involved a Bengaluru property leased to D Twelve Spaces Pvt Ltd, where earlier AAR and AAAR rulings had denied exemption. The Court noted that taxing such leases would burden students with higher costs and goes against the intent of the residential exemption. The judgment offers clarity and relief for property owners and hostel operators.Read more

05 Dec 2025

Mindspace Business Parks REIT has raised INR 12 billion through a three-year bond issue carrying a 6.96% quarterly coupon, drawing strong interest from banks and institutional investors. The REIT's latest fundraising comes as credit markets remain favourable for high-quality issuers. Rated Crisil AAA, the bonds include a base size and a greenshoe option, depending on demand. Market participants said the tenor and pricing made the deal competitive among the day's offerings. The successful issuance highlights Mindspace REIT's ability to secure efficient financing despite a cautious lending environment, further strengthening its position in the commercial real estate debt market.Read more

05 Dec 2025

The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 5.25 per cent, aiming to support economic growth, which reached a six-quarter high of 8.2 per cent in the second quarter. The decision follows a period of historically low retail inflation, which fell to 0.25 per cent in October. The move is expected to make housing, auto, and commercial loans more affordable. Despite concerns over the rupee hitting record lows against the dollar, the central bank has raised its GDP growth projection for the year to 7.3 per cent.Read more

05 Dec 2025

Brookfield India Real Estate Trust has initiated a Qualified Institutional Placement to raise up to INR 3,500 crore, following unitholders' approval last week. The floor price has been set at INR 327.33 per unit. The REIT, which manages 10 Grade A commercial assets across major cities, aims to strengthen its financial position and support portfolio expansion.Read more

05 Dec 2025

SPR Construction has secured INR 750 crore in investment from funds managed by Oaktree Capital Management, marking a significant boost for SPR City, the company's flagship integrated township in Chennai. The funding is expected to expedite the completion of key commercial assets, including the Market of India and the Mall of Madras, both central to SPR's long-term development strategy. This investment also enables the repayment of existing project debt and unlocks substantial commercial value across 3.5 million sq. ft. of space. With strong pre-leasing and rising market traction in the Perambur Mill region, the projects are positioned as major catalysts for trade and retail growth in Southern India.Read more

05 Dec 2025

Nephrocare Health Services Ltd., operator of the NephroPlus dialysis chain, has set a price band of INR 438-460 for its INR 871-crore IPO, valuing the company at over INR 4,600 crore. The issue, open from December 10 to 12, includes a fresh issue of INR 353.4 crore and an OFS of 1.12 crore shares. Proceeds will fund new clinics, debt repayment and general corporate needs. Founded in 2009, NephroPlus runs 519 clinics across India and overseas, including the world's largest dialysis centre in Tashkent. The company reported FY25 revenue of INR 756 crore and profit of INR 67 crore. The stock is set to list on December 17.Read more

05 Dec 2025

JSW Steel has announced that Japan's JFE Steel will invest INR 15,750 crore for a 50% stake in the steel business of Bhushan Power and Steel (BPSL), valuing the enterprise at INR 53,000 crore. BPSL will now operate as an equal joint venture between the two companies. The deal is expected to help JSW reduce debt by more than INR 37,000 crore by June next year through the transfer of BPSL's business, associated debt and JFE's capital infusion. BPSL's 4.5-MTPA steel unit will be moved to a new entity under JSW Kalinga Steel, with plans to expand capacity to 10 MTPA by FY31. The partnership combines JSW's domestic scale with JFE's technology expertise.Read more