Mindspace Business Parks REIT has accepted bids for its INR 7 billion bond issuance, which carries a five-year maturity and a quarterly coupon of 7.1485%. According to bankers involved in the process, the issue drew commitments worth around USD 79.64 million. Investor bids were invited a day earlier and evaluated before being finalised. Rated AAA by Crisil, the offering includes both a base size and a greenshoe option, reflecting strong demand for high-quality corporate debt. While the REIT did not comment on the development, the successful allotment highlights steady investor interest and supports the organisation's ongoing debt-raising and financial strategy.Read more

GVK Power and Infrastructure, which is currently undergoing insolvency proceedings, reported a consolidated loss for the September quarter, reflecting a significant reduction in income compared with the same period last year. The company, which had recorded a substantial net profit during the corresponding quarter previously, indicated that accumulated losses and delayed or defaulted loan repayments have further strained its financial position. Several of its loan accounts have already been categorised as non-performing by lenders, and multiple insolvency-related actions and legal proceedings are underway across the group's entities.Read more

ReNew Energy Global Plc has committed INR 60,000 crore to Andhra Pradesh to develop green energy projects, bringing its total investment in the state to INR 82,000 crore. The company will establish a 6 GW ingot wafer plant, 2 GW pumped hydro project, 300 KTPA green ammonia facility, and 5 GW of hybrid wind-solar and solar-BESS projects. The investment is projected to create 10,000 jobs and support the state's renewable energy goals, including 78.5 GW solar, 35 GW wind, and 25 GWh battery storage capacity, while focusing on high-tech green energy solutions.Read more

Nexus Select Trust, backed by Blackstone, plans to double its mall portfolio in India over the next five years as it banks on rising consumption in smaller cities. The company currently operates 19 malls, mostly in South and Western India, and aims to expand into eastern markets where it has only one property. Executives said consumers-including those in non-metro towns-continue to prefer mall visits for branded retail, supporting its confidence in physical shopping spaces. Nexus expects to grow to 30-35 malls, with upcoming projects split between major metros and smaller cities. The trust will fund expansion largely through debt and may consider equity, benefiting from regulatory changes that boost REIT investment access.Read more

Punjab Finance Minister Harpal Singh Cheema has released INR 332 crore for rural development works, with another INR 334 crore expected by late December or early January. The funds will support projects in gram panchayats, especially sanitation initiatives, as part of the state government's ongoing focus on rural upliftment. Grants will be shared in a 70:20:10 ratio among Gram Panchayats, Panchayat Samitis and Zila Parishads, with Ludhiana, Hoshiarpur and Gurdaspur receiving the highest allocations. Cheema said the government aims to strengthen rural communities through transparent funding. He also highlighted major infrastructure efforts, including recarpeting 19,000 km of roads and investing INR 1,000 crore in sports facilities for youth.Read more

Hero Future Energies has signed an MoU with the Andhra Pradesh government to develop 4 GW of renewable energy projects across three districts, with an investment of INR 30,000 crore. The two-phase initiative aims to generate over 15,000 jobs and promote sustainable industrial growth. HFE will allocate an additional INR 15,000 crore to expand renewable projects in the state. The company, with a global portfolio of 7.2 GWp in renewable energy and 2.3 GWh of BESS capacity, has operations in India, Ukraine, Vietnam, and the UK.Read more

Reliance Group has rolled out its first Employee Stock Options in Reliance Infrastructure and Reliance Power, covering 2,500 employees. The ESOPs, approved by shareholders earlier this month, allow most employees to acquire shares at INR 10 each, recognizing their loyalty and contribution to the company's turnaround. The two companies together have over 5 million shareholders. Reliance Group employs more than 28,000 people, serves millions of customers, and holds assets worth INR 1,07,123 crore with a net worth of INR 40,856 crore.Read more

The Greater Mohali Area Development Authority (GMADA) has launched a process to reassess reserve prices of unsold residential, commercial, institutional, and industrial sites that failed to attract buyers in consecutive auctions. The authority will appoint three independent valuers for each site, selecting professionals empanelled with nationalised banks or the income-tax department. Recent auctions showed selective demand, with some plots exceeding reserve prices while many others remained unsold. This move aims to align pricing with current market trends, improve transparency, and make properties more appealing to potential buyers.Read more

Tata Steel's consolidated net profit for the September quarter surged over fourfold to INR 3,183.09 crore, propelled by strong India operations. Total income grew over 8 percent year-on-year to INR 59,052.84 crore, with India contributing INR 38,592 crore. Production and deliveries in India saw significant growth, while the Netherlands and UK operations remained mixed. The company continued to reduce debt and prioritise decarbonisation initiatives, including a joint decarbonisation project in the Netherlands. Strategic acquisitions and asset sales further support Tata Steel's growth and operational efficiency.Read more

Shriram Properties has reported a net profit of INR 8.57 crore in the September quarter, reversing a loss from the previous year, supported by higher revenue of INR 229.01 crore. The company expects improved performance in the second half of the fiscal, aided by a strong project pipeline and execution focus. Shriram Properties continues to expand its project portfolio and enhance cash flow generation. With a presence in Bengaluru, Chennai, Pune, and Kolkata, the firm has successfully delivered 48 projects totaling 29.2 million sq ft of saleable area.Read more