Chennai-based Grand Housing has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO), signaling its plans to go public. The company plans an offer for sale of up to 35.5 million equity shares, each with a face value of INR 5. Founded in 2004, Grand Housing develops plotted residential and industrial land primarily in Tamil Nadu. Its land reserves stood at around 83.1 million sq ft, excluding ongoing and upcoming projects. FY25 revenue and net profit rose significantly compared to FY23. The IPO will follow the book-building process with allocations to institutional, non-institutional, and retail investors.Read more

WeWork India Management's shares debuted on the NSE and BSE with limited movement, initially trading slightly above the issue price before dipping. The INR 3,000 crore IPO was fully an offer for sale, with promoter group Embassy Buildcon LLP and WeWork Global's affiliate divesting their stakes. The IPO received 1.15 times subscription on the last day and raised over INR 1,348 crore from anchor investors. The listing is intended to provide liquidity to shareholders, enhance visibility, and create a public market. The company manages 77 lakh sq ft across Tier-1 cities.Read more

Delhi-based companies are required to pay a stamp duty of 0.1 per cent on the issuance of shares, clarified the revenue department. The stamp collector has instructed NSDL and CDSL not to collect the lower central rate of 0.005 per cent, confirming that the correct rate under Schedule IA of the Indian Stamp Act, 1899, applies. All listed and unlisted companies must apply for adjudication of stamp duty, whether issuing physical or digital share certificates. Non-compliance can attract penalties and interest, and delays affect Delhi's state revenue collection.Read more

Trichy Corporation has updated water and UGD charges for residential properties, linking fees to built-up areas. Domestic water charges will rise between INR 180 and INR 360 per month, marking an 11% to 100% increase, while UGD fees have jumped over 60%, with a minimum of INR 100 and a maximum of INR 220 per month. The revision, part of funding agency requirements, follows five years without change. Apartment complexes are limited to one connection per four flats. Implementation is pending final approval, raising concerns among residents about potential rent impacts.Read more

IRB InvIT Fund has completed the acquisition of three tollway special purpose vehicles (SPVs) IRB Hapur Moradabad Tollway Ltd (IHMTL), Kaithal Tollway Ltd (KTL), and Kishangarh Gulabpura Tollway Ltd (KGTL) from IRB Infrastructure Trust. The equity deal, valued at INR 4,905 crore, adds assets with a combined enterprise value of INR 8,436 crore. Collectively, these assets reported a turnover of INR 469.31 crore in FY25. The acquisition is set to diversify the fund's portfolio, enhance long-term revenue stability, and extend the weighted average life of its assets.Read more

Japanese firms Daikin and Kubota are set to make major investments in Haryana, aimed at enhancing the state's industrial and technological landscape. Daikin will invest INR 1,000 crore to establish a research and development centre focusing on advanced technologies and sustainable industrial solutions. Kubota, in partnership with Escorts, plans to invest INR 2,000 crore to expand agricultural equipment manufacturing. These initiatives are expected to create employment opportunities, attract global business collaborations, and position Haryana as a hub for innovation, research, and modern industrial practices.Read more

Prestige Estates Projects Ltd has reported a substantial rise in sales bookings during the second quarter of the fiscal year, driven by strong housing demand across multiple cities. The company recorded a 50% increase in bookings to INR 6,017.3 crore, with sales volume rising to 4.42 million sq ft. For the first half of the fiscal, Prestige achieved record sales of INR 18,143.7 crore, surpassing its FY25 full-year performance. Growth in apartment and plot realisations, coupled with robust demand in Bengaluru, NCR, and Mumbai, has contributed to the exceptional performance.Read more

The Nagpur Municipal Corporation (NMC) has intensified efforts to recover property tax dues by conducting auctions and attaching assets in multiple zones. In Lakadganj, 19 properties were targeted, with owners of five properties paying INR 10.45 lakh, while five others were auctioned for INR 1.66 crore. In Laxmi Nagar, assets of M/s Premier Technology Pvt Ltd were attached for unpaid taxes totaling INR 13.54 lakh. NMC officials have warned defaulters of strict legal actions under the Maharashtra Municipal Corporation Act if dues remain unsettled.Read more

Auro Realty, the real estate arm of Aurobindo Group, is planning to raise INR 20 billion (USD 225.41 million) through bonds to finance key acquisitions, including Hotel Taj Banjara in Hyderabad. The company is offering two-year and four-year bonds with coupon rates ranging from 11% to 15%. The bond issue is in advanced stages and could be completed this month, with private credit funds expected to participate. This move reflects the increasing use of corporate bonds by Indian firms to fund large-scale acquisitions efficiently.Read more

IndusInd International Holdings Ltd (IIHL), the Mauritius-based promoter of IndusInd Bank, has completed its acquisition of the remaining 49% stake in Sterling Bank, Bahamas, gaining full ownership. The bank will now operate as IIHL Bank & Trust Limited. With a net worth of USD 1.26 billion, IIHL has investments across the Banking, Financial Services, Securities, and Insurance sectors. The move supports its vision to become a global BFSI leader by leveraging digital technologies and cross-border financial products. IIHL's expansion also includes acquiring Reliance Capital and its subsidiaries, along with a 60% stake in Invesco Asset Management India, managing USD 14.5 billion in assets.Read more