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Battery Storage Win Powers Acme Solar’s Stock Surge
Business, business update - June 24, 2025

ACME Solar Arranges ₹1,072 Crore Funding for Rajasthan Solar Project

ACME Solar Arranges ₹1,072 Crore Funding for Rajasthan Solar Project

ACME Solar, a key player in India’s renewable energy sector, has successfully arranged a fresh financing deal worth ₹1,072 crore for its operational 250 MW solar plant in Rajasthan. This new financial agreement is expected to ease funding pressures and support the company’s broader growth ambitions.

Fresh Financial Backing Explained

The funding was raised through ACME Aklera Power Technology Private Limited, a fully owned subsidiary of ACME Solar. The primary goal is to replace the plant’s existing high-cost debt with this more affordable financing.
A notable aspect of the deal is the interest rate improvement, which is now around 8.5% per annum, significantly lower than the previous rate. The financing has been structured with a long-term repayment window of 18 years, giving the company a more comfortable financial runway.

Solar Plant’s Performance and Stability

The Rajasthan solar facility has been consistently generating power for over a year and a half. The plant has achieved a Capacity Utilisation Factor (CUF) of 29.3% in the current financial year, demonstrating steady output and reliability.
This solid operational record was key to attracting favourable refinancing terms. Projects with proven efficiency often receive better financial offers, as lenders prefer assets that are already performing well.

Major Lending Partners Involved

Well-known international banks, including Bank of America and Standard Chartered Bank, have supported this financial arrangement. Their participation not only secures the funding but also strengthens ACME Solar’s international reputation.
This move is part of ACME Solar’s ongoing effort to strategically manage and improve its debt profile. Over the past half-year, the company has restructured loans worth approximately ₹4,575 crore across its portfolio. By lowering borrowing costs, ACME Solar is preparing itself for future growth in a highly competitive industry.

Investor Response and Market Impact

Following the announcement, ACME Solar’s shares rose by about 3% on the Bombay Stock Exchange (BSE), closing near ₹252 on June 24, 2025. This positive market movement signals investor approval of the company’s financial strategy.

Sector-Wide Relevance and Benefits

India is quickly expanding its renewable energy network, with a target to achieve 500 GW of clean energy capacity from non-fossil fuel sources by the year 2030. Companies like ACME Solar are pivotal in reaching this ambitious goal.
Securing cost-effective financing strengthens individual companies while also supporting the broader renewable energy ecosystem. Lower interest rates enable developers to offer more competitive tariffs, increasing their chances of winning future solar tenders.
This development also provides a positive case study for other industry participants, demonstrating that operational assets with reliable performance can attract favourable financing even in challenging financial markets.

Outlook for ACME Solar

ACME Solar has been steadily broadening its renewable footprint across India, focusing on large-scale solar installations while maintaining prudent financial management. By actively reshaping its debt strategy, the company is creating room for future project investments and possible diversification into other green technologies.
The involvement of globally respected lenders in this deal is likely to open doors for additional funding sources in the future. ACME Solar’s ability to use existing projects as leverage for securing lower-cost financing reflects careful long-term planning.
With improved financial flexibility, ACME Solar is now well-positioned to pursue larger renewable ventures and actively compete in upcoming solar auctions. The company may also explore newer segments within clean energy, further contributing to India’s sustainability objectives.
In conclusion, this ₹1,072 crore financing not only strengthens ACME Solar’s financial foundation but also supports India’s clean energy mission. The deal marks a step forward in the company’s growth journey and enhances its standing with both investors and financial partners.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Reliance Infrastructure Shares Gain After Subsidiary Clears ₹273 Crore Dues to Yes Bank

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Jio’s Giant Leap: Reliance Confirms IPO in Early 2026
Equities, Market News - June 24, 2025

Reliance Infrastructure Shares Gain After Subsidiary Clears ₹273 Crore Dues to Yes Bank

Reliance Infrastructure Shares Gain After Subsidiary Clears ₹273 Crore Dues to Yes Bank

Reliance Infrastructure Limited (RInfra) saw its share price rise following the complete repayment of dues by its subsidiary, JR Toll Road Private Limited (JRTR), to Yes Bank. The total settlement, which included ₹273 crore covering principal and interest, is part of RInfra’s continued financial restructuring.

Settlement Overview

JR Toll Road, fully owned by Reliance Infrastructure, completed the full repayment of its outstanding debt to Yes Bank under a revised agreement. This payment resolved all financial obligations related to the loan.
With this repayment, Reliance Infrastructure has been officially released from the corporate guarantee it had extended on behalf of JR Toll Road. The release reduces RInfra’s financial exposure and strengthens its financial structure.

Corporate Clarification Regarding Yes Bank

RInfra clarified that Yes Bank holds no ownership stake in the company, is not linked to its promoter group, and has no financial association as a related party. This statement was made to prevent any misinterpretation about the relationship between the two entities.

Investor Reaction

After the announcement of the settlement, Reliance Infrastructure’s stock gained approximately 3.1% on the Bombay Stock Exchange (BSE), trading near ₹384 on June 23, 2025. This positive stock movement reflects investor approval of the company’s effort to resolve its debt commitments.
The market’s favorable response indicates that investors view the settlement as a constructive step that will enable RInfra to shift focus toward its key operational areas and upcoming projects.

Improved Financial Position

This debt settlement aligns with Reliance Infrastructure’s broader aim to cut debt levels and strengthen financial stability. The company has consistently worked to simplify its balance sheet and ensure sustainable financial growth.
With this liability now cleared and the guarantee lifted, RInfra can now explore new opportunities with more financial flexibility and reduced risk exposure.

Focus on Core Business Growth

Reliance Infrastructure plans to continue strengthening its primary business segments, including engineering, procurement, and construction (EPC), power distribution, metro projects, airport management, and toll road operations. The reduced debt burden places the company in a stronger position to pursue large infrastructure contracts.
The settlement also allows RInfra to more actively bid for government projects and public-private partnership (PPP) initiatives with a more secure financial base.

Industry Outlook and Company Prospects

In India’s competitive infrastructure sector, maintaining low debt levels provides companies with a strategic advantage. Financially sound organizations are better equipped to secure major contracts and manage complex projects effectively.
Reliance Infrastructure’s successful debt clearance highlights its commitment to financial responsibility. Industry analysts and investors view this action as evidence of strong financial governance and a proactive management approach.
Looking forward, RInfra is expected to remain focused on cost management, asset monetization, and timely project delivery. These strategic efforts are likely to appeal to long-term investors interested in India’s expanding infrastructure market.

Conclusion
The settlement of JR Toll Road’s ₹273 crore dues to Yes Bank marks an important achievement for Reliance Infrastructure as it continues to improve its financial health. By resolving this liability and removing the related corporate guarantee, the company has lowered its financial risks.
The positive reaction from the stock market underlines investor confidence in RInfra’s capability to manage its financial obligations and grow its core businesses. This development is expected to support the company’s future growth and involvement in upcoming infrastructure opportunities across India.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Aditya Birla Lifestyle Sets Ambitious Goal to Double Revenues by FY30

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Aditya Birla Lifestyle Sets Ambitious Goal to Double Revenues by FY30
business update, Life Style, Market News - June 24, 2025

Aditya Birla Lifestyle Sets Ambitious Goal to Double Revenues by FY30

Aditya Birla Lifestyle Sets Ambitious Goal to Double Revenues by FY30

With ₹300 crore annual investments, the newly-listed brand portfolio eyes billion-dollar status, focusing on retail expansion and profitability growth.

Strong Growth Roadmap for Aditya Birla Lifestyle

Aditya Birla Lifestyle Brands Ltd (ABLBL), freshly carved out from Aditya Birla Fashion and Retail, has laid out an aggressive growth strategy aimed at doubling its revenue over the next five years. To achieve this, the company plans to invest ₹300 crore annually, primarily to strengthen its retail network and internal capabilities.

The move comes as the group positions itself to leverage India’s rising consumption trends, which are expected to drive substantial growth across various sectors, especially fashion and lifestyle.

Aspiring to Build Billion-Dollar Brands

ABLBL envisions establishing India’s pioneering lineup of fashion brands, each poised to achieve billion-dollar valuation milestones in the coming years. The company currently oversees a renowned collection of labels, featuring well-known names such as Peter England, Allen Solly, Van Heusen, and Louis Philippe.

According to the leadership team, two of these brands already generate annual revenues exceeding ₹2,000 crore each, while two others surpass ₹1,000 crore in annual sales. Building on this momentum, the company’s strategic focus over the next five years is to more than double its revenues and achieve a three-fold increase in cash profits.

Focused Investments to Drive Expansion

The company has earmarked ₹300 crore annually as capital expenditure to fuel its next phase of growth. A large portion of this investment will go toward expanding its brick-and-mortar presence across India, while a smaller share will be dedicated to technological advancements and strengthening operational capacities.

Despite the ambitious goals, the management emphasized that growth efforts will remain structured, disciplined, and supported by robust internal cash flows.

Profitability and Future Plans

Showcasing its financial achievements for FY25, Aditya Birla Lifestyle posted ₹7,830 crore in total revenue, securing a 15% operating margin and ₹60 crore in net earnings. Over the next three to five years, the company is projecting a threefold increase in profitability.

Currently, the company is not actively exploring acquisitions, though brands like Reebok and Van Heusen’s innerwear segment are being considered as potential future growth drivers.

Listing Debut and Market Performance

Aditya Birla Lifestyle Brands entered the stock market post-demerger, commencing trading with an opening price of ₹167.75 per share. The stock saw a brief upward movement during intraday trading, reaching ₹176.10 on the BSE, before settling at ₹159.40 by the end of the session. The company’s market capitalization stood at ₹19,451.50 crore post-listing.

The demerger and listing mark a pivotal shift in the company’s growth story, as it now operates independently with a sharper focus on scaling its brand presence and profitability.

Final Thoughts

Aditya Birla Lifestyle’s growth roadmap showcases its commitment to leveraging India’s changing consumption patterns and the growing appetite for premium fashion brands. By committing ₹300 crore annually toward expansion and innovation, and by focusing on its well-established portfolio of popular fashion brands, ABLBL is poised to create India’s first billion-dollar fashion brand collective. With disciplined growth plans, robust profitability targets, and promising market prospects, the company has set an ambitious path forward in the fashion and lifestyle sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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PFC Ltd Share Price Forecast from 2025 to 2030: Long-Term Investment Insights

BluPine Energy Secures ₹2,416 Cr to Build Hybrid Clean Power Project in Karnataka

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Semiconductor Market Set to Cross $1 Trillion by 2030
Equities, Market News - June 24, 2025

PFC Ltd Share Price Forecast from 2025 to 2030: Long-Term Investment Insights

PFC Ltd Share Price Forecast from 2025 to 2030: Long-Term Investment Insights

Explore PFC Ltd’s projected share price journey through 2025–2030, backed by fundamental analysis, financials, and its evolving role in India’s power sector.

Introduction to Power Finance Corporation (PFC Ltd)

Power Finance Corporation Ltd., better known as PFC, is one of India’s most prominent government-owned Non-Banking Financial Companies (NBFCs). Operating at the core of India’s power and infrastructure development, PFC plays a strategic role by funding various large-scale power projects. It also serves as the nodal agency for several flagship government programs such as the Revamped Distribution Sector Scheme (RDSS) and Integrated Power Development Scheme (IPDS).

Aligned with the national vision of “Viksit Bharat,” PFC has made significant contributions to the energy transition. The company has supported the development of crucial infrastructure and has financed nearly 25% of the country’s installed renewable energy capacity.

Financial Performance Overview (FY 2023–24)

During FY 2023–24, PFC recorded a strong bottom-line performance, posting a net income of ₹14,367 crore. The company’s loan book stood strong at ₹4,81,462 crore, with renewable energy loans contributing ₹60,208 crore. Additionally, PFC maintained a 54EC bond portfolio valued at ₹8,994 crore. These figures highlight PFC’s ability to manage large-scale financing while focusing on clean energy growth.

PFC Share Price Forecast for 2025

As we approach 2025, PFC’s stock is anticipated to experience a steady and progressive upward movement. Based on market sentiment and historical performance, the stock is expected to trade between ₹405 and ₹500 by the end of the year. Growth in loan disbursements, rising demand in the power sector, and stable returns could positively influence its valuation.

2026 Share Price Outlook

In 2026, PFC shares may see increased traction driven by ongoing infrastructure expansion and digital grid modernization. Forecasts suggest that the stock may begin the year around ₹400 and climb up to ₹650 by December. Improved profitability and government policy continuity could play a critical role in supporting this rise.

Projections for 2027

The year 2027 may bring further gains for PFC, especially if it strengthens its renewable financing verticals. The projected valuation for the year spans from ₹500 to ₹800. The company’s consistent financial results, combined with its strategic role in India’s decarbonisation efforts, may attract more long-term investors.

Forecast for 2028

Heading into 2028, PFC is poised for rapid expansion, fueled by the increasing pace of renewable energy and infrastructure developments. The share price is expected to rise from ₹700 at the year’s start to as high as ₹1,100 by year-end. Market confidence in the company’s project pipeline and disciplined fiscal management could be key drivers.

PFC Price Prediction for 2029

As infrastructure investments deepen, PFC’s share price may reflect strong upward momentum through 2029. The stock could open the year near ₹900 and potentially climb to ₹1,500 by December. Growth in sustainable lending and expanded transmission financing may continue to support its upward trajectory.

2030 Long-Term Investment View

By 2030, PFC is likely to benefit from long-standing reforms and growing capital needs in the energy sector. With consistent government support and steady financial execution, the share price might reach between ₹1,200 and ₹1,800. The company’s role in India’s green transition and its reliable dividend payout history make it appealing for patient, long-term investors.

PFC’s Financial Strength and Market Metrics

PFC demonstrates strong fundamentals that support its valuation potential. As of now, its market capitalization is around ₹1.35 lakh crore. With a price-to-earnings ratio of 5.87 and a return on equity of approximately 19.5%, the company showcases solid value and efficiency. A dividend return of 3.86% enhances its appeal among investors seeking consistent income streams.

Although the debt-to-equity ratio is high at 8.25, it is acceptable within the context of government-owned infrastructure lenders. The book value stands near ₹356.77, and the stock’s face value is ₹10, indicating room for appreciation in line with sectoral demand.

Shareholding Composition

PFC’s ownership is largely held by promoters, who control nearly 56% of the company. Institutional investors like FIIs and mutual funds hold close to 30%, while retail and others account for just under 9%. This balanced distribution reflects confidence among large investors in the company’s fundamentals and policy-driven stability.

How to Invest in PFC Shares

Investing in PFC shares is straightforward and accessible through most online trading platforms. Applications like Zerodha, Groww, Upstox, Angel One, Dhan, and PhonePe Share Market enable users to open a demat account and start trading. Investors can search for PFC using its NSE symbol and make informed decisions based on market trends and individual risk tolerance.

Final Thoughts

Power Finance Corporation Ltd. has established itself as a key financial driver in India’s evolving power landscape. With a focus on clean energy, a solid dividend track record, and an active role in government-backed infrastructure schemes, it offers a compelling case for long-term investment. The share price projections from 2025 through 2030 indicate potential for steady appreciation, especially if India continues to push its energy transition agenda.

While no investment is without risk, PFC’s strategic relevance, financial stability, and sectoral tailwinds make it a strong contender for portfolios aimed at long-term growth and income. Investors should monitor macroeconomic developments, interest rate movements, and energy sector policies to maximize returns from this NBFC giant.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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BluPine Energy Secures ₹2,416 Cr to Build Hybrid Clean Power Project in Karnataka

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Suzlon Energy Ltd: PAT rose 538% YoY to ₹1,279 crore, revenue jumped 85%
business update, Market News - June 24, 2025

BluPine Energy Secures ₹2,416 Cr to Build Hybrid Clean Power Project in Karnataka

BluPine Energy Secures ₹2,416 Cr to Build Hybrid Clean Power Project in Karnataka

The Actis-backed clean energy firm secures major debt support to develop a solar-wind-storage hybrid power project under SJVN’s FDRE initiative in Karnataka.

BluPine Secures Key Funding to Propel Clean Energy Expansion

BluPine Energy, a key player in India’s clean energy sector, has taken a significant step toward expanding its renewable footprint by securing ₹2,416 crore in debt financing. The funds will be utilized to construct a 150 MW hybrid renewable energy facility in Aland, Karnataka, designed for continuous and reliable power delivery. The initiative is spearheaded by BluPine’s fully-owned subsidiary, Solarcraft Power India 16 Pvt Ltd, under the larger 1,500 MW FDRE scheme floated by SJVN in June 2023.

With this new infusion of funds, BluPine reaffirms its strategic vision to accelerate the development of integrated renewable energy infrastructure combining solar, wind, and energy storage systems to ensure uninterrupted power supply even during peak demand hours.

About the Aland FDRE Project: A Hybrid Model for Energy Resilience

The Aland-based FDRE initiative is designed to harness the complementary strengths of various green energy technologies. By blending solar and wind generation capabilities with advanced battery storage solutions, the project aims to resolve the long-standing issue of energy intermittency — a key challenge in the renewable sector.

The project’s hybrid structure ensures consistent power generation and delivery to utilities, especially during demand surges, making it an ideal solution for DISCOMs seeking stable green energy supply.

Scheduled for commissioning in 2026, the project will play a pivotal role in India’s efforts to achieve energy security and sustainability by offering firm and dispatchable renewable energy, which mimics the reliability of traditional thermal plants.

Strategic Financial Backing by Global Lender

Standard Chartered has taken the lead in this financial deal, serving in diverse capacities such as chief arranger, exclusive green facilitator, account custodian, and funding provider. Their involvement underscores the growing confidence of global financial institutions in India’s clean energy trajectory and BluPine’s credibility as a developer.

This timely financial closure paves the way for smooth execution of the project and aligns with the broader vision of decarbonizing India’s energy mix. The bank’s participation also signals an increased appetite among institutional lenders to fund blended renewable-plus-storage projects, which are becoming critical for grid stability.

Driving India’s Energy Transition Agenda

India’s renewable energy roadmap is anchored on achieving ambitious emission-reduction goals while ensuring energy access across its vast population. Projects like BluPine’s Aland FDRE installation are instrumental in pushing the nation toward its non-fossil fuel targets.

The expected environmental impact of the project is noteworthy. Upon becoming operational, it is estimated to curb around 687,043 tonnes of carbon dioxide emissions annually. Such a reduction contributes directly to climate mitigation efforts and supports India’s commitment under the Paris Agreement.

The ability to provide power consistently through a firm and dispatchable setup makes this project a model for future green infrastructure developments. This hybrid approach enhances reliability, making renewable energy a more practical replacement for conventional power sources.

Alignment with Government Tenders and Green Policies

BluPine’s involvement in the SJVN 1,500 MW FDRE bid reflects its proactive approach to supporting government-backed sustainable energy programs. The tender, launched in June 2023, is part of the Ministry of Power’s broader push to ensure the next wave of renewable capacity is not only clean but also dependable.

By being an early mover in this segment, BluPine positions itself favorably within the evolving renewable landscape. Projects under this scheme are expected to serve as benchmarks for other developers looking to combine multiple energy technologies into one cohesive power solution.

Actis-Backed Platform Continues to Build Momentum

BluPine Energy, backed by global investment firm Actis, has consistently focused on scalable, high-impact renewable projects across India. The successful debt closure for the Aland project highlights its capacity to attract long-term capital and deliver bankable projects.

Its portfolio strategy focuses not just on capacity expansion but also on technological integration that improves energy availability, reliability, and carbon efficiency. As more hybrid projects emerge, BluPine’s execution capabilities and early successes are likely to offer competitive advantages in the Indian renewable energy market.

Final Thoughts

BluPine Energy’s latest milestone—securing ₹2,416 crore in debt for a 150 MW FDRE project—marks a significant advancement in India’s journey toward a more resilient and sustainable power infrastructure. With hybrid systems that blend solar, wind, and storage, the project is tailored to address key energy transition challenges like intermittency and peak-time shortages.

Expected to go live in 2026, the Aland project aligns perfectly with national clean energy goals, offering a reliable source of green power and reducing carbon emissions by nearly 687,000 tonnes each year. With the support of strategic financial partners and the backing of Actis, BluPine is well on track to deliver high-impact energy solutions that could serve as blueprints for the future of India’s renewable sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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GAIL’s ₹844 Crore Investment Boosts Gas Pipeline Capacity!

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GAIL Q2 FY26: Gas & Pipeline Volumes Steady, Revenue Rises, Profit Rebounds Sequentially Despite Segment Pressures
Economy, Market News - June 24, 2025

GAIL's ₹844 Crore Investment Boosts Gas Pipeline Capacity!

GAIL’s ₹844 Crore Investment Boosts Gas Pipeline Capacity!

India’s top gas utility pushes forward with key infrastructure upgrades while facing delays in Mumbai-Nagpur-Jharsuguda and Srikakulam-Angul pipeline projects.

Summary:
GAIL (India) Ltd, the state-owned natural gas transmission giant, has committed ₹844 crore to enhance the capacity of its Dahej-Uran-Dabhol-Panvel pipeline to 22.5 million metric standard cubic meters per day (mmscmd). The company is currently handling rising costs and delays in the schedules of two significant projects: the Mumbai-Nagpur-Jharsuguda pipeline and the Srikakulam-Angul pipeline. These developments reflect both the challenges and urgency in meeting India’s growing demand for cleaner fuel infrastructure.

GAIL (India) Ltd, the country’s leading natural gas transmission and marketing company, has announced a significant investment of ₹844 crore aimed at expanding the capacity of its Dahej-Uran-Dabhol-Panvel (DUDP) natural gas pipeline network. This strategic move will enhance the pipeline’s carrying capacity from its current levels to 22.5 million metric standard cubic meters per day (mmscmd), reinforcing GAIL’s role in India’s transition to a cleaner energy future.
The expansion comes at a time when India’s energy sector is experiencing a paradigm shift—from coal-based power and liquid fuels to natural gas and renewables. As industrial and urban gas demand rises, GAIL’s infrastructure upgrades are crucial for maintaining supply reliability and preparing for future consumption spikes.

DUDP Expansion: Boosting Western India’s Gas Infrastructure
The Dahej-Uran-Dabhol-Panvel pipeline, strategically located along India’s western coastline, plays a pivotal role in transporting imported liquefied natural gas (LNG) from the Dahej and Dabhol terminals to key industrial and urban hubs in Maharashtra and Gujarat. With the demand for piped natural gas (PNG) and compressed natural gas (CNG) increasing in urban centres, particularly Mumbai, Navi Mumbai, and Pune, the decision to expand this pipeline is both timely and essential.
The upgraded pipeline will:
Improve gas flow and reduce pressure drops
Serve growing demand in sectors like power, city gas distribution, refineries, and fertilizer
Enhance grid stability and reduce dependence on spot LNG shipments
Support India’s long-term vision of achieving 15% natural gas share in the energy mix by 2030
This capacity addition is aligned with the government’s goals under the National Gas Grid and the One Nation One Gas Grid initiative, aiming for an integrated and connected gas infrastructure nationwide.

Delays in Other Key Pipeline Projects
Despite the progress on the DUDP front, GAIL is also facing significant delays and cost overruns in two other critical pipeline projects, which are vital for expanding gas access to central, western, and eastern India.
1. Mumbai-Nagpur-Jharsuguda Pipeline
Originally expected to be completed sooner, the significant trunk pipeline linking Maharashtra to Odisha will now be postponed until September 2025. The revised project timeline has also resulted in a cost escalation of ₹411.12 crore, taking the total projected cost substantially higher.
The Mumbai-Nagpur-Jharsuguda corridor is essential for improving gas access in interior regions of Maharashtra, Chhattisgarh, and Odisha—areas that have been traditionally underserved by gas infrastructure. Once operational, it will help bridge the regional energy divide and support industrial development in Tier-2 and Tier-3 cities.
2. Srikakulam-Angul Pipeline
The Srikakulam-Angul pipeline, which is a significant project designed to connect Andhra Pradesh and Odisha, is now anticipated to be finished by December 2025. The delay is attributed primarily to pending forest clearances, a common challenge in infrastructure projects involving eco-sensitive zones.
This pipeline will play a vital role in gasifying eastern India, especially for cities like Vishakhapatnam, Berhampur, and Bhubaneswar, while also facilitating smoother connectivity between LNG terminals and consumption centers.

Investment Outlook and Strategic Vision
GAIL’s commitment to investing ₹844 crore in the DUDP expansion and managing ongoing project delays reflects its strategic balancing act—pushing forward on high-priority projects while mitigating bottlenecks in others. Over the next five years, GAIL is expected to deploy multi-thousand crore investments across pipeline infrastructure, LNG terminals, and renewable energy to support the government’s energy diversification strategy.
Despite operational challenges, the broader outlook for GAIL remains positive:
Strong domestic demand for natural gas, particularly from industrial sectors and city gas suppliers
Increasing policy support, including tax benefits and regulatory reforms, for natural gas adoption
High potential for cross-border pipeline connectivity and LNG re-export
GAIL’s diversification into green hydrogen, solar, and bio-energy aligns with India’s net-zero goals

Market and Policy Reactions
Energy analysts have welcomed GAIL’s announcement, noting that the ₹844 crore investment demonstrates the company’s long-term commitment to infrastructure resilience.
Ankit Shah, Senior Energy Analyst at Nomura India, stated:
“The DUDP pipeline is crucial for meeting the incremental demand in western India. GAIL’s proactive capacity enhancement will help reduce supply volatility and dependence on imported fuels in the region.”
Government agencies have also acknowledged the need for faster regulatory clearances in delayed projects like Srikakulam-Angul, signalling the possibility of policy reforms to accelerate energy infrastructure development.

Conclusion
GAIL’s recent investment of ₹844 crore to expand the DUDP pipeline highlights its crucial role in India’s energy transition. Although setbacks in the Mumbai-Nagpur-Jharsuguda and Srikakulam-Angul projects emphasize the challenges of large-scale infrastructure projects, GAIL’s ongoing efforts to enhance pipeline connectivity and capacity establish it as a key contributor to India’s gas-driven economy.
As India marches towards cleaner energy goals, such projects will not only improve regional gas accessibility but also power industries, reduce emissions, and elevate the country’s energy security profile.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Waaree Renewable Technologies: Order Book Surges to ₹1,480 Crore as Growth Accelerates

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Diversification Strategy: IOC’s Foray into Petrochemicals and Renewable Energy
Market News, Markets - June 24, 2025

Waaree Renewable Technologies: Order Book Surges to ₹1,480 Crore as Growth Accelerates

Waaree Renewable Technologies: Order Book Surges to ₹1,480 Crore as Growth Accelerate

Waaree Renewable Technologies cements its leadership in India’s solar EPC sector with a major contract revision, robust earnings, and expanding global ambitions.

Contract Value Upgraded: Waaree Project Now Estimated at ₹1,480 Crore
In June 2025, Waaree Renewable Technologies announced a significant update to its ongoing EPC contract, leading to an increase in its total value. First awarded in November 2024, the project entails the development of a 2,012.47 MWp ground-mounted solar PV installation for an Indian client.
Importantly, all original terms and conditions remain intact, and there are no related party transactions involved. The execution timeline will be jointly decided by Waaree and the client, allowing for flexibility as the project expands in scale.

Financial Performance: Strong Growth in Revenue and Profit
Waaree’s upward contract revision comes on the back of stellar financial results. In the fourth quarter of FY25, the company reported a consolidated net profit of ₹93.81 crore—an 82.7% jump over the previous year. The company posted a 74.4% increase in operating revenue, which climbed to ₹476.58 crore during the same period.
For the full fiscal year, Waaree Renewable Technologies posted a remarkable 82.29% growth in revenue, outpacing the broader Indian solar sector. The company’s EBITDA rose by 50.06% year-on-year, reflecting improved operational efficiency and disciplined cost management. As of Q4 FY25, Waaree had executed 1,524 MW of EPC projects, with an unexecuted order book of 3.2 GW—demonstrating both delivery capability and future visibility.

Market Response: Shares Rally on Positive News
The stock market responded positively to Waaree’s announcement. On June 20, 2025, shares of Waaree Renewable Technologies ended at ₹986.90 on the NSE, marking a 4.63% gain for the day. The stock has appreciated 15% over the past year, indicating continued investor faith in the company’s growth prospects.

Strategic Expansion: International Foray into Vietnam
The company’s vision reaches beyond domestic boundaries. In June 2025, the company signed a non-binding Memorandum of Understanding with Viet Khanh Joint Stock Company to develop a 100 MWp ground-mounted solar project in Vietnam. This move signals Waaree’s intent to expand its international footprint and tap into Southeast Asia’s growing demand for renewable energy infrastructure.
The agreement, disclosed in compliance with SEBI regulations, marks a strategic step in Waaree’s global growth plan. The final terms will be outlined in a future binding contract, but the partnership already positions Waaree as a credible EPC player beyond India’s borders.

Business Model and Sectoral Position
Waaree Renewable Technologies, a subsidiary of the Waaree Group, is a leading player in the solar EPC space. The company offers turnkey solutions for both on-site (rooftop, ground-mounted) and off-site (open-access) solar projects, catering to a diverse client base in India and now internationally.
Waaree’s robust order book, rapid execution capabilities, and focus on operational excellence have allowed it to capture a significant share of India’s transition to clean energy. The company is also exploring adjacent opportunities, such as energy-intensive data centers, to further diversify its portfolio.

Challenges and Outlook
Despite its successes, Waaree faces several challenges:
• Cash Flow Management: The company’s working capital cycle is complex, with significant retention money affecting liquidity. There is a noted mismatch between sales growth and cash flow from operations, which could pose risks if not managed carefully.
• Competitive Pressures: As the renewable sector attracts more players, Waaree will need to maintain its edge in cost, technology, and execution to protect margins.
• Project Diversification: While the company is tracking a robust order pipeline, it has yet to secure orders for new segments like data centers, indicating potential delays in diversification.
Nonetheless, Waaree’s strong order book, proven execution, and strategic international moves position it well for continued growth.

Conclusion
Backed by robust financials, a growing order pipeline, and a strategic push into international markets, Waaree is set to play a pivotal role in India’s—and Asia’s—renewable energy transition. While challenges around cash flow and competition persist, the company’s proactive approach and operational resilience provide a strong foundation for future expansion.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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L&T Launches India’s First ESG Bonds, Raises ₹500 Crore!

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L&T Launches India's First ESG Bonds, Raises ₹500 Crore!
Equities, Market News - June 24, 2025

L&T Launches India's First ESG Bonds, Raises ₹500 Crore!

L&T Launches India’s First ESG Bonds, Raises ₹500 Crore!

Larsen & Toubro sets a new precedent in green finance by issuing and listing India’s first ESG bonds, marking a crucial step towards responsible capital markets.

Summary:
Engineering and infrastructure leader Larsen & Toubro (L&T) has made history by becoming the first Indian firm to list Environmental, Social, and Governance (ESG) bonds on the National Stock Exchange (NSE). The company successfully raised ₹500 crore through this pioneering issuance, signalling a strong commitment to sustainable business practices and opening the gateway for future ESG investments in India’s debt capital markets.

In a significant development highlighting the increasing significance of sustainable financing in India, engineering giant Larsen & Toubro (L&T) revealed the listing of the nation’s inaugural ESG (Environmental, Social, and Governance) bonds on the National Stock Exchange (NSE). The conglomerate successfully raised ₹500 crore through the issue of debentures, becoming the first Indian issuer to officially enter the ESG bond arena via the public debt market.
This initiative places L&T firmly at the forefront of India’s transition toward green and responsible capital markets, aligning itself with global best practices and investor expectations for ESG compliance and transparency.

What Are ESG Bonds?
ESG bonds, also known as sustainable bonds, are financial instruments specifically designed to fund projects or business activities that meet predefined environmental, social, and governance objectives. These could include initiatives like:
Renewable energy development
Water conservation
Green building infrastructure
Reducing carbon footprint
Supporting social welfare programs
Governance reforms and transparency enhancement
Unlike conventional corporate bonds, ESG bonds require rigorous use-of-proceeds disclosures, regular impact reporting, and independent verification of ESG objectives.

The Details of L&T’s ESG Bond Issue
According to the official release, the ₹500 crore raised through privately placed debentures will be allocated towards sustainable infrastructure and clean energy projects, as well as initiatives aimed at improving social outcomes.
The bonds have been structured to align with international ESG bond frameworks, such as those laid out by the International Capital Market Association (ICMA). In particular, the bond issuance complies with the Green Bond Principles, Social Bond Principles, and Sustainability-Linked Bond Guidelines, ensuring the highest levels of integrity and accountability.
The details regarding the tenure, coupon rates, and the makeup of investors in the issue have not been completely revealed. However, it has garnered interest from both domestic and international institutional investors who are progressively incorporating ESG considerations into their investment approaches.

L&T’s ESG Vision and Long-Term Commitment
As one of India’s largest infrastructure companies, L&T has been vocal about embedding ESG at the heart of its corporate strategy. The company has already laid out a multi-pronged sustainability roadmap that includes:
Achieving carbon neutrality by 2040
Enhancing the proportion of renewable energy in its activities
Reducing greenhouse gas (GHG) emissions
Promoting diversity and inclusion across its workforce
Strengthening corporate governance and ethical compliance
The ESG bond issuance is not just a symbolic move but a strategic financial decision aimed at aligning the company’s capital structure with its sustainability goals.

Industry Reactions
Market participants and sustainability advocates have welcomed L&T’s bold initiative.
Ashishkumar Chauhan, Managing Director and CEO of NSE, remarked:
“The listing of India’s first ESG bonds by L&T is a significant milestone in the evolution of Indian capital markets. It will serve as a benchmark for future sustainable finance issuances in the country.”
Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, noted:
“ESG investing is not a passing trend but the future of capital allocation. L&T’s move can pave the way for more Indian corporates to explore innovative, green financial products.”

India’s ESG Investment Landscape: Ready for Takeoff?
The global ESG bond market has crossed $5 trillion, with countries like China, the US, and members of the EU leading the pack. India has been relatively slow to adopt ESG bonds in public capital markets, with most green finance so far being routed through private placements or international issuances.
However, the listing of L&T’s ESG bonds may act as a catalyst for other Indian companies and public sector units to explore ESG-aligned instruments for financing.
The Indian government has also conveyed its support by:
Regulatory incentives for ESG disclosures
Introduction of Business Responsibility and Sustainability Reporting (BRSR) norms
Proposed framework for sovereign green bonds
With the Securities and Exchange Board of India (SEBI) increasingly focusing on green finance guidelines, the ecosystem for ESG bond issuance is expected to flourish in the coming years.

What It Means for Investors
For institutional investors—especially pension funds, sovereign wealth funds, and ESG-focused mutual funds—the listing provides a new avenue to align investment portfolios with sustainable development goals (SDGs).
Retail investors, though not directly participating in this issuance, will also benefit in the long run as ESG-aligned businesses are more likely to demonstrate long-term value creation, lower risk profiles, and greater regulatory compliance.

Conclusion
L&T has set a new direction for sustainable finance in India by successfully raising ₹500 crore through the country’s inaugural publicly listed ESG bonds. This move not only reflects the company’s commitment to responsible development but also serves as a benchmark for other corporates to align their funding strategies with global sustainability goals.
In a rapidly evolving financial ecosystem where “green is the new gold,” L&T’s pioneering ESG bond issue signals that Indian companies are ready to lead from the front.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Swiggy’s Financial Turnaround: Losses Narrow, Quick Commerce Surges in 2024

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Walmart’s Indian Bet: E-commerce and Sourcing Power Next Wave of Global Growth
IPO research, Market News - June 24, 2025

Swiggy’s Financial Turnaround: Losses Narrow, Quick Commerce Surges in 2024

Swiggy’s Financial Turnaround: Losses Narrow, Quick Commerce Surges in 2024

India’s food delivery giant Swiggy slashes annual losses by 30% as quick commerce arm Instamart drives record growth, but competition and expansion keep profitability elusive.

Swiggy’s Financial Performance in 2024
Swiggy’s financial results for calendar year 2024 mark a pivotal moment for the company. According to a recent update from key investor Prosus, Swiggy’s adjusted EBITDA loss shrank by 30%, dropping to $182 million from $261 million the previous year. This turnaround is particularly noteworthy given the company’s continued heavy spending on its quick commerce arm, Instamart.
The company’s Gross Order Value (GOV) rose by 29% year-on-year, propelled by robust growth in both food delivery and the rapid expansion of quick commerce services. In Q1 FY 2025, Swiggy’s gross order value (GOV) jumped by almost 40% y-o-y, driven by an 18% rise in food delivery and a remarkable 101% growth in its quick commerce segment.

Quick Commerce: The Growth Engine
Instamart, Swiggy’s quick commerce vertical, has emerged as the primary driver behind the company’s improved financials. Instamart posted a 101% year-on-year increase in GOV during Q4 FY25, touching ₹4,670 crore. This growth was supported by the addition of 316 new dark stores—more than the total added in the previous eight quarters combined—and expansion into 124 cities.
The average order value on Instamart also increased by 13% to ₹527 in the fourth quarter, indicating higher consumer engagement and larger basket sizes. Swiggy’s management attributes this rapid expansion to strategic investments in market reach, store network, and differentiated offerings such as Maxxsaver and Megapods, which are designed to enhance customer experience and operational efficiency.

Expansion and Innovation
Swiggy’s rapid expansion in quick commerce goes beyond just opening new stores. The company has introduced several new initiatives to attract and retain customers:
• Bolt: Since its October debut, Bolt has contributed close to 9% of Swiggy’s total food delivery volume, helping attract new users and increase average order values.
• Snacc: A 10-minute food delivery service, catering to the growing demand for ultra-fast deliveries.
• Swiggy Scenes: A new feature focusing on restaurant event reservations, similar to Zomato’s dine-out offerings.
• Premium Subscription (One BLCK): Targeting high-value customers with exclusive benefits.
These innovations, along with a focus on segmented offerings and new categories within quick commerce, have helped Swiggy capture more consumption occasions and diversify its revenue streams.

Financial Headwinds: Losses Remain High
Despite narrowing its adjusted EBITDA loss, Swiggy’s overall net losses remain substantial. In Q4 FY 2025, the company posted a net loss of ₹1,081 Cr—almost twice the ₹554 Cr loss recorded in the year-ago quarter. For the full fiscal year, Swiggy’s loss widened by 33% to ₹3,117 crore, even as consolidated operational revenue grew 35% to ₹15,227 crore.
The primary reason for these persistent losses is the company’s aggressive investment in expanding its quick commerce footprint. Swiggy’s expenses have surged, driven by infrastructure development, logistics enhancements, and marketing costs necessary to compete in a market characterized by intense rivalry and rapid innovation.

IPO and Shareholder Movements
Swiggy’s financial journey in 2024 was also marked by a successful public market debut. The company completed a ₹11,400 crore ($1.37 billion) IPO in November, with Prosus reducing its stake to 24.8% and realizing $2.8 billion in value from its original holding. This influx of capital has enabled Swiggy to accelerate its growth initiatives, particularly in quick commerce.

Competitive Landscape and Future Outlook
Swiggy’s rapid expansion comes amid heightened competition from rivals such as Zomato, Blinkit, and Zepto, all vying for dominance in the quick commerce space. The sector is witnessing a phase of rapid innovation, with companies racing to offer faster deliveries, broader product assortments, and deeper market penetration.
Swiggy’s CEO Sriharsha Majety remains optimistic, emphasizing the company’s focus on balancing food delivery margin expansion with growth investments in quick commerce. The company aims to double its quick commerce business space in the second half of FY25, signaling continued momentum in store additions and market coverage.

Conclusion
The company’s 2024 performance reflects the significant role quick commerce is playing in transforming India’s digital landscape. By narrowing its losses and doubling down on Instamart, Swiggy has positioned itself as a formidable player in both food delivery and grocery segments. However, the path to sustained profitability remains challenging, with high operational costs, ongoing investments, and fierce competition shaping the road ahead.
As Swiggy continues to innovate and expand, its ability to balance growth with financial discipline will determine its long-term success in the evolving Indian market.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Kalpataru Secures ₹708 Crore from Anchor Investors!

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Kalpataru Secures ₹708 Crore from Anchor Investors!
IPO research, Market News, Real Estate - June 24, 2025

Kalpataru Secures ₹708 Crore from Anchor Investors!

Kalpataru Secures ₹708 Crore from Anchor Investors!

GIC Singapore and Bain Capital are leading the anchor book, backed by nine key investors who are supporting Kalpataru’s growth journey.

Summary:
Real estate powerhouse Kalpataru has raised ₹708 crores from nine anchor investors ahead of its public offering, demonstrating strong confidence from institutional investors in its fundamental strengths and growth potential. Key participants in the anchor book include GIC of Singapore, Bain Capital’s GSS Opportunities Investment, and leading domestic mutual funds such as SBI MF and ICICI Prudential MF. This anchor round not only strengthens Kalpataru’s capital base but also sets a robust tone for its upcoming equity issuance.

In a significant boost to its capital-raising plans, Kalpataru Projects International Limited (KPIL) has secured a ₹708 crore investment from a cohort of nine high-profile anchor investors days before its proposed equity public issuance. The funding round was led by Singapore’s GIC, one of the most significant sovereign wealth funds globally, along with Bain Capital’s GSS Opportunities Investment. This demonstrates a significant level of confidence from institutions in Kalpataru’s core business strengths and anticipated growth.
The anchor book received more subscriptions than available shares, indicating strong interest from prominent investors, both from within the country and abroad. Other participants include SBI Mutual Fund, ICICI Prudential Mutual Fund, SBI General Insurance, Aditya Birla Sun Life Insurance, and 360 ONE WAM, showcasing a diverse mix of global and domestic investment institutions. The overwhelming response comes at a time when India’s real estate and infrastructure sectors are undergoing a structural transformation led by policy reforms, urbanization, and rising private and public investments.

Who Is Kalpataru Projects?
Kalpataru Projects International Ltd. is a part of the Kalpataru Group, a prominent name in India’s infrastructure, EPC (Engineering, Procurement & Construction), and real estate sectors. With a multi-decade presence, Kalpataru has executed large-scale infrastructure projects across power transmission, railways, oil & gas pipelines, and buildings in over 70 countries.
The company is known for its technical expertise, timely project delivery, and a diversified business model that spans core infrastructure and real estate development. In recent years, KPIL has pivoted towards expanding its international EPC footprint while maintaining strong performance in domestic real estate, primarily in metros and Tier-1 cities.

The Anchor Round: Strategic Importance
The ₹708 crore obtained through the anchor route is an essential step prior to Kalpataru’s forthcoming public offering, assisting in:
Set a benchmark valuation for the IPO
Establish early credibility and demand
Infuse fresh capital to deleverage the balance sheet and fund growth projects
Attract more retail and HNI participation when the public tranche opens
By engaging well-known anchor investors, Kalpataru not only boosts its brand image but also increases the likelihood of a successful listing with effective price discovery.

Why Investors Are Bullish
There are several reasons why both foreign and domestic institutional investors are lining up behind Kalpataru:
1. Robust Project Pipeline
Kalpataru has a diversified order book exceeding ₹35,000 crore, with significant visibility in power transmission and distribution, railways, and water infrastructure segments. This ensures revenue predictability and scalability.
2. Pan-India and Global Presence
Its operations span across 70+ countries, with an expanding footprint in Africa, the Middle East, and Southeast Asia, de-risking the company from over-reliance on the Indian market alone.
3. Sectoral Tailwinds
India’s infrastructure and housing sectors are witnessing a renaissance, supported by:
Government initiatives like PM Gati Shakti, Housing for All, and Smart Cities Mission
Increased budgetary allocations for capex-led growth
FDI inflows in construction and infrastructure
4. Strong Corporate Governance
Backed by a reputed promoter group, Kalpataru has maintained high governance standards, timely disclosures, and efficient capital allocation—attributes highly valued by institutional investors.
5. Deleveraging Strategy
A portion of the IPO and anchor fundraise proceeds will go toward reducing debt, thereby improving return ratios and lowering interest burden, making the stock more attractive in the long term.

Statements from Market Experts
Rohit Agrawal, Head of Institutional Research at a Mumbai-based brokerage firm, stated:
“Kalpataru is well-positioned to benefit from India’s infrastructure boom and increasing global EPC demand. The anchor investor participation validates its growth roadmap and financial stability.”
Shweta Mehta, Fund Manager at a large domestic mutual fund, added:
“The company’s diversified order book, global execution track record, and focus on clean energy transmission make it a compelling infrastructure play over the next decade.”

Implications for the IPO
With such strong backing from heavyweight institutions, Kalpataru’s IPO is expected to receive robust demand across investor categories. Anchor investment often sets the tone for the remainder of the subscription period, especially for Qualified Institutional Buyers (QIBs), High Net-Worth Individuals (HNIs), and retail investors looking for confidence signals in turbulent markets.
Additionally, it could lead to better pricing for the IPO, narrower discounting, and healthy listing gains post debut.

The Bigger Picture
Kalpataru’s successful anchor fundraise is not an isolated event but part of a broader trend of rising investor appetite in Indian infrastructure and real estate. As capital markets become more confident about India’s long-term policy continuity and capex-led growth, companies with solid fundamentals, like Kalpataru, are poised to benefit.
Moreover, this also reflects a maturing of India’s capital markets, where global investors are not just betting on startups but also backing real-sector players with tangible assets and predictable cash flows.

Conclusion
Kalpataru has successfully secured ₹708 crore from leading institutional investors in India and around the globe, positioning the company to embark on its next growth phase with enhanced strength. As its IPO nears, the backing from GIC, Bain Capital, SBI Mutual Fund, and others sends a strong message of confidence—not just in the company but also in the broader India growth story.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Avantel Soars 6% with ₹25 Crore DRDO Deal!

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