#1. Shapoorji Pallonji Group to launch Rs 22,000 crore fundraising exercise this week
The Shapoorji Pallonji Group is expected to launch a Rs 22,000 crore ($2.6 billion) fundraising exercise this week, tapping alternative asset managers and private credit to refinance debt and reduce borrowing costs, the Economic Times reported. The debt was raised against its 18.2 percent stake in Tata Sons.
Why it’s important: The fundraise has become necessary after the group’s talk with Power Finance Corporation to raise nearly Rs 20,000 crore collapsed. The group has been reducing debt through asset sales, divesting units such as Eureka Forbes, Sterling and Wilson, roads and port assets and public listings.
#2. Tata Sons chairman N Chandrasekaran asks group firm CEOs to aggressively pursue growth
Tata Sons chairman N Chandrasekaran has urged group company CEOs to pursue growth despite mounting uncertainties in domestic and global markets, the Economic Times reported. In strategy sessions and business reviews, Chandrasekaran said that while margins can be adjusted over time, growth opportunities must be seized immediately. He has set ambitious revenue targets with adequate capital allocation.
Why it’s important: The Tata Sons chief wants to ensure the conglomerate remains resilient in an increasingly competitive landscape. After a stellar rally over the past three years, Tata Group stocks have underperformed the benchmark due to weaker-than-expected results from some of the larger firms.
#3. Ashok Leyland’s Hinduja Tech completes acquisition of Germany’s Tecosim Group
Hinduja Tech Ltd has completed the acquisition of German engineering services provider Tecosim Group, the Mint reported. Hinduja Tech, a subsidiary of heavy commercial vehicle maker Ashok Leyland, is a mobility focused global engineering and R&D tech company. The acquisition marks a significant milestone in its vision to become top 10 global mobility engineering companies.
Why it’s important: Tecosim’s strong foothold in Europe gives Hinduja Tech a broader geographical reach and opens new avenues for growth, including to serve a diverse customer base across Europe.
#4. Bangladesh wants to renegotiate power deal with Adani unless court cancels contract
Bangladesh wants to sharply lower prices under a power purchase deal with the Adani Group unless it is cancelled by a court, which has called for an investigation into the 25-year deal, the Business reported. In Bangladesh, a high court last week ordered a committee to examine the contract under which Adani supplies power from a $2 billion coal-fired plant in India. The court is due to make its order in February.
Why it’s important: After facing allegations of bribery by US authorities, Adani is facing significant headwinds, with one Indian state reviewing a power deal and TotalEnergies pausing its investments.
#5. Private funding in India slowed down last week due to lack of big-ticket deals and weaker volumes
Funding momentum in local startups struggled to cross $100 million mark last week, with one deal accounting for two-fifths of the total deal value, the Mint reported. Private firms secured $116.79 million, just over one-fourth of the total funding raised in the prior week prior, when two large deals, Zepto’s $350 million fundraise and HealthKart’s $153 million, comprised about 90 percent of the previous week’s total. Volumes last week slipped to 19 from 22.
Why it’s important: The slowdown in funding can be partially attributed to a dearth of large ticket deals as well as weaker volumes compared to the past few weeks. The momentum may pick up in the coming weeks though as the funding winter seems have ended.
#6. Raymond Realty may tap public markets in second half of 2025-26, CEO Harmohan Sahni says
Raymond Realty, the real estate firm of the Raymond Group, plans to get listed during the second quarter of the next financial year, CEO Harmohan Sahni told the Business Standard. The company does not need to raise additional capital for the next 18 to 24 months, he said.
Why it’s important: Raymond recently bagged a no-objection certificate from the stock exchanges for the demerger of its real estate business. Raymond Realty is the second largest contributors to the group both in terms of revenue and profits. It is low on inventory and eager to launch new projects that
#7. Andhra Pradesh cabinet may deliberate on Adani Green Energy deal on Tuesday
The Andhra Pradesh cabinet is likely to discuss the status of the power supply agreement between the state distribution utility and the Solar Energy Corporation of India in its next meeting expected on December 3, the Hindu Businessline reported. The amount to be paid is nearly Rs 2,800 crore annually.
Why it’s important: the development comes in the wake of allegations by US authorities that bribes were paid to secure contracts to supply electricity by Adani Green, charges that the Adani Group has denied.
#8. Government may launch Rs 9,000 crore incentive scheme to boost battery manufacturing
The central government may roll out a Rs 9,000 crore scheme to support the manufacturing of components for batteries that power electric cars and back up clean energy systems, the Mint reported. The heavy industries ministry, which discussed the plan with industry executives at a meeting in the first week of November, will take up the matter with other ministries next.
Why it’s important: Since Batteries cost 40 percent of an electric vehicle, a push to make local components may bring electric vehicle prices at par with conventional fuel vehicles. The scheme would also support India’s goal to become a hub for electrolyzers and green hydrogen.
#9. Top offer of Rs 4.3 crore annual package fire up IIT campus placement scene
Wall Street trading powerhouse Jane Street has reportedly rolled out the highest annual salary offer of Rs 4.3 crore plus, including base, fixed bonus, relocation for the Class of 2025 in what is expected to be a significantly better placement season than last year at the Indian Institutes of Technology.
Why it’s important: The placement season for the past few years have been rather lacklustre for India’s premier engineering schools. A reversal of that trend would be cheered by freshers.
#10. Rich Indians drive luxury sales of despite slowing consumption expenditure in India
Affluent Indians are spending more on high-end luxury, driving sales of the world’s top labels despite slowing consumption in the country and a slump in China, the Mint reported. The domestic arms of Louis Vuitton, Christian Dior and Hermes, for instance, together sold Rs 1,400 crore worth of clothes, bags and other merchandise in India in the year ended March.
Why it’s important: Demand for luxury homes to designer apparel from wealthy Indians have spiked in India after the pandemic although inflation prompted most consumers to cut back on spending.
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