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

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

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

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

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

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

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

Jaykay Enterprises, an industrial technology and defence engineering firm, made its National Stock Exchange debut this week, with shares ending nearly 3% lower at around Rs 212. The stock opened strong but lost momentum through the day. The company said the listing marks a new growth phase for the 143-year-old JK organisation's advanced engineering and defence vertical. Chairman and MD Abhishek Singhania noted that the milestone will support increased investment in precision engineering, metal 3D printing, advanced composites and digital platforms. Established in 1943, Jaykay now works across high-tech aerospace and defence systems and partners with key national institutions including HAL, BEL, BrahMos and the Indian Armed Forces.Read more

Carlyle Group is in advanced talks to acquire majority control of Nido Home Finance, part of Edelweiss Financial Services-housing-finance business. The proposed deal includes an initial investment of about USD 300 million, though no binding agreement has been reached. The move reflects rising global private-equity interest in India's mortgage market, driven by growing home-loan demand in major and emerging cities. Nido has been seeking a strategic partner to strengthen its capital base and expand in affordable and mid-income housing. For Carlyle, the talks signal a return to housing finance after recent exits from PNB Housing Finance and Yes Bank, aligning with its strategy of pursuing larger, controlled investments in high-growth sectors.Read more

Embassy REIT has purchased a 0.3 million sq ft Grade-A office building in Embassy GolfLinks Business Park, Bengaluru, for INR 8,520 million. The property is fully leased to a global investment firm, giving the REIT long-term income visibility. The asset is expected to generate a net operating income yield of around 7.9%, which is higher than the REIT's trading cap rate of 7.4% during the past quarter. The transaction went through full financial, legal and technical due diligence, marking one of the REIT's major third-party acquisitions in Bengaluru.Read more