Building materials company Nuvoco Vistas is planning to raise ?1,200 crore through a structured funding arrangement to part-fund its ?1,800 crore acquisition of Vadraj Cement. The money will be raised by issuing compulsory convertible debentures (CCD) and compulsory convertible preference shares (CCPS) in Vadraj after the completion of the acquisition and will replace the bridge facilities taken to fund the deal, people familiar with the matter said. These instruments offer a feature to convert debt into equity. " Out of this ?1,800 crore of financing which we need to do upfront, we will take a long-term debt of ?600 crore in Nuvoco's books and then the which will be on a long-term maturity," the management said during a recent investor call. The company has hired Trust Capital as the arranger for the fundraising. Nuvoco did not respond to a request for comment. The funding is being Nuvoco Vistas plans to raise ?1,200 crore for Vadraj Cement buyout Nuvoco Vistas plans to raise ?1,200 crore for Vadraj Cement buyout subsidiary Vanya for the purpose of acquiring Vadraj Cement. After the acquisition, Vanya is expected to be merged into Vadraj. Vadraj will tap the market to raise ?1,200 crore in two tranches, which will be in the form of a combination of fixed-term securities with will be in the form of a combination of fixed-term securities with invest into Vadraj in the form of CCPs and CCDs with a long-term maturity and at the time of maturity they will repay the CCPs and CCDs.
 

WeWork India Management (WeWork India), a flexible workspace operator, has signed leases for two new centres - WeWork EON Free Zone in Pune, and WeWork Ramanujan Intellion Park in Chennai. The office space in Chennai is spread across three floors in the Littlewood Tower with 1.5 lakh sq ft area and 2,400 desks capacity. The company has taken up the space in Kharadi, Pune from Panchshil Realty. The workspace spans two floors, featuring 1,000 desks and is spread across 60,000 sq ft. Both these new workspaces are set to open in the second half of FY25.
 

Tamil Nadu deputy chief minister Udhayanidhi Stalin on Wednesday inaugurated 102 completed urban development projects worth 399.81 crore and laid the foundation stone for 108 new projects valued at 975.63 crore at an event held at the Ripon Building in the city. Addressing at the event, Udhayanidhi said, "it is not just everything for everyone, but everything for every town." He added that the DMK's vision for Singara Chennai was first articulated in 1959, when the party won the Chennai corporation elections. He credited former chief minister M Karunanidhi and chief minister M K Stalin for city's sustained growth, by bringing projects like the metro rail and road infrastructure upgrades. Of the 102 completed projects, 31 were implemented by the Greater Chennai Corporation, 2 by the CMWSSB, 35 by the directorate of municipal administration, 31 by Town Panchayats, and 3 by the TWAD Board. Among the 108 new projects announced, 62 will be executed by the Greater Chennai Corporation, including 477 crore for road re-laying and 54 crore for canal improvements. Four projects will be carried out by Metro Water, including underground drainage system (UGDS) works in North Chennai. Another 28 projects fall under the directorate of municipal administration and 14 under the town panchayats. He awarded 7.26 lakh in cash prizes to 62 high-performing Class X and XII students from Chennai Corporation schools, along with 38 teachers and 14 headmasters.

Blackstone has received approval from the Competition Commission of India (CCI) for its proposed investment in Kolte-Patil Developers through a combination of preferential allotment and secondary share purchase. In March 2025, the company had announced about a proposed equity infusion via preferential allotment and secondary share acquisition by BREP Asia III India Holding Co VII, an affiliate of Blackstone. The transaction involves a two-pronged investment structure, cumulatively valued at approximately ?1,167 crore. As part of the deal, Kolte-Patil Developers will issue 1,26,75,685 equity shares on a preferential basis to BREP Asia III India Holding Co VII. The shares, having a face value of ?10 each, are priced at ?329 per share, translating to a total infusion of ?417.03 crore. Post completion, Blackstone will hold 40% of Kolte-Patil’s equity capital, excluding the open offer. Subject to full acceptance of its open offer for an additional 26% stake from public shareholders, its holding may rise to 66%.  Post-transaction, the promoter group’s shareholding will decline from 59.52% to 33.81%, with significant stake dilution by Rajesh Anirudha Patil, Naresh Anirudha Patil, and Milind Digambar Kolte, among others.

Asian Paints shares will be in focus on Monday after Birla Opus Paints, a unit of the Birla Group, filed a complaint with the Competition Commission of India (CCI), accusing the company of abuse of dominance, according to sources cited by CNBC-TV18. Grasim Industries, which owns Birla Opus Paints, reportedly filed the complaint in November 2024, alleging that Asian Paints threatened dealers with reduced credait limits and withdrawal of contracts if they engaged with Grasim. The complaint also accuses Asian Paints of delaying supplies and restricting access to tinting machines as a pressure tactic. Asian Paints, India’s largest paint manufacturer, holds 53% of the country’s installed paint production capacity and has a vast distribution network of over 74,000 dealers across 1.6 lakh touchpoints. Sources said the CCI is expected to soon initiate a formal investigation into the allegations, with an order for a probe likely in the near future. According to Trendlyne, the average target price for Asian Paints is Rs 2,289, implying a potential upside of 2%. Of the 35 analysts covering the stock, the consensus rating is ‘Sell’. The stock has declined 23% over the past year and 30% over the last two years. Its current market capitalisation stands at Rs 2.15 lakh crore. 
 

People looking to invest in property in Ayodhya will have to pay more to execute transactions as the district administration is set to revise the circle rate of the land upwards. According to officials, the benchmark rates of residential properties in  prime areas could increase by about 40%, while agricultural land on the outskirts would be increased by 10-30%. The new rates will take effect from Saturday, and buyers will need to pay increased stamp duty. The circle rates in Ayodhya were not revised since 2017. Noting the increased value of properties mentioned in sale deeds, the local administration initiated the process of revising the stamp duty last year. Divided into five tehsils (administrative subdivisions) — Sadar, Sohawal, Milkipur, Bikapur, and Rudauli — the benchmark value of agricultural, non-agricultural, and commercial plots and vacant land will increase substantially. A senior officer from the district administration said that after conducting local surveys and collating the value of the plots and buildings mentioned in the sale deeds, the new rates were fixed after addressing objections and suggestions of residents. State minister of stamps and registration (independent) Ravindra Jaiswal said, "The increased rates will not only help the department generate more revenue but will also benefit local farmers and property owners who are going to be impacted due to development projects. The value of the land being acquired by govt agencies and private players will also increase proportionately."
 

iPhone maker Apple India has taken on lease 12,616 square feet area in Sky City Mall at Borivali East, Mumbai for a minimum monthly rent of Rs 17.35 lakh, according to CRE Matrix. Real estate data analytics firm CRE Matrix has reviewed the lease agreement of Apple India, which currently has two stores, one each in Mumbai and New Delhi. Premium mobile device maker Apple India has leased this space from Incline Realty for a period of 10 years and 10 months. The rent free period is 10 months. The starting monthly rent is Rs 138 per square feet. The minimum payable rent is Rs 17,35,104. The revenue share percentage is 2 per cent per quarter for first 42 months, and then 2.5 per cent per quarter, as per CRE Matrix. In April 2023, Apple opened its first two official stores in India--in Saket (Delhi) and BKS (Mumbai). Last October, Apple had announced that it will open four more stores in India, in Pune, Bengaluru, Delhi-NCR and Mumbai. Apple began manufacturing iPhones in India in 2017. Last month, government sources said Apple's investment plans for India are intact and the company proposes to have a major manufacturing base for its products in the country.
 

The insolvency appellate tribunal has approved the insolvency proceedings against the debt-ridden Jaypee Cement, upholding an earlier order passed by the National Company Law Tribunal (NCLT). A two-member bench of the NCLAT rejected the appeal filed by Alok Gaur against the NCLT order, saying the debt and default matter is proved, and it did not find any error in the order directing the initiation of insolvency proceedings. The National Company Law Appellate Tribunal (NCLAT) rejected Gaur's submission that its parent firm Jaiprakash Associates Ltd (JAL) has signed an MRA (Master Restructuring Agreement) with lenders, undertaken to discharge its liabilities. Under Bucket 1, the divestment of a substantial part of its cement business along with debt of Rs 11,689 crore to UltraTech Cements was approved. The residual debt of JAL and JCCL was bifurcated into two different buckets. Bucket 2A has a sustainable debt of Rs 5,072 crore, which was to be retained under the residual business of JAL to be serviced from the cash flow from the operations of the residual business of JAL. It also envisaged the shifting of JCCL's Shahabad Cement Plant exposure of Rs 778.10 crore to JAL. While Bucket 2B has an unsustainable debt of Rs 13,590 crore, and it was proposed to be transferred to a separate Real Estate SPV for 20 years, backed by land of 1039 acres (already mortgaged to lenders) of the company, having the value of Rs 14,156 crore. The debt of Bucket 2B has not been resolved and remains outstanding.
 

Samsung India Electronics has significantly expanded its presence in Chennai by leasing 1,000 desks at WeWork’s Olympia Cyberspace facility, marking a strategic move to expand its managed office operations in the region. The lease agreement spans 42 months and encompasses a total area of 61,230 square feet,. “This development effectively doubles Samsung’s footprint in Chennai in the managed space segment. The company’s decision to invest in flexible workspaces underscores its commitment to agility and adaptability in a rapidly evolving business landscape source close to the deal. WeWork’s Olympia Cyberspace facility, provides Samsung with enhanced access to key markets and talent pools, aligning with its broader growth objectives in India. WeWork India did not reply to an email query sent by ET. Samsung’s expansion in Chennai reflects a broader trend among multinational corporations leveraging flexible workspace solutions to optimize operations and foster innovation. As of December 2024, the firm operates approximately 100,000 desks across 63 locations in eight cities: Bengaluru, Mumbai, Delhi, Gurgaon, Noida, Pune, Hyderabad, and Chennai. Global brands such as Amazon Web Services, JP Morgan, Warner Bros. Discovery, Deutsche Telekom, and Grant Thornton are among its existing tenants.
 

Chief minister Devendra Fadnavis on Tuesday said Maharashtra is set to provide 30 lakh houses to homeless people under the Pradhan Mantri Awas scheme and become the first state in India to achieve 100% of the target. He also said a fresh survey would be carried out to identify homeless people who are yet to benefit. The CM was speaking at a PM Awas Yojana award function in Pune with Union minister Shivraj Singh Chouhan as the chief guest. Deputy CM Ajit Pawar was also present at the event. Fadnavis said, "The central govt considered the socio-economic survey of 2011 to identify homeless people when the scheme was launched. Meanwhile, the state govt has expedited the process to provide necessary permissions for houses sanctioned by the Centre to the 30 lakh people. "Maharashtra will become the first state in the country to achieve 100% target under the PM Awas scheme. During his speech, Chouhan told the state govt to do yet another survey to zero in on more homeless people. "The Centre has sanctioned houses to all homeless people in Maharashtra as per the 2018 survey. However, I urge the state to conduct a fresh one to see if anyone falling under the category has been left out. If the state provides a fresh list, we will sanction it too."
 

Tata Group’s digital business entity Tata Digital has leased nearly 59,000 sq ft office across three floors of a commercial tower in Mumbai’s Lower Parel for a five-year term. The company will be paying monthly rentals of Rs 1.05 crore and common area maintenance (CAM) charges of Rs 12.32 lakh, translating to a blended outgo of around Rs 1.18 crore per month. The agreement includes a clause to escalate rentals by 5% every year. Tata Digital is entitled to a rent-free period from February 1 to July 15, 2025, with the license fee becoming payable from July 16, showed the documents accessed through CRE Matrix. 
The tenant has paid a security deposit of Rs 7.07 crore for the transaction. The deal also includes the provision of 49 car parks, with additional slots charged at Rs 10,000 per month each. ET's email query to Tata Digital and the property owner Nucleus Office Parks remained unanswered until the time of going to press. India’s office leasing activity has remained resilient in 2025, driven by strong demand from global capability centers (GCCs), In line with this, the country’s top business districts are witnessing a steady and sustained rise in demand for front offices. 
 

Metrowater is finally set to roll out smart water meters for its consumers, with preparations underway to issue the work order that will allow the selected contractor to begin installations for the long-pending project. In the first phase, one lakh smart meters will be installed, targeting houses and flats measuring more than 2,500 square feet. Other consumers will gradually be brought under the system in subsequent phases. Currently, Metrowater operates with 1,200 mechanised meters, which present practical difficulties in reading data—especially when property owners are away from home for extended periods. This has created two major challenges: unquantified water usage in large complexes and significant revenue losses due to undercharging. Both issues are expected to be addressed with the implementation of smart meters, which will provide precise consumption data. Smart meters will bring multiple benefits including improved equity and adequacy in water distribution across the city. The initiative is part of a broader strategy to modernise infrastructure and improve public utility services. Officials are optimistic that the move will not only streamline operations but also promote also promote better conservation and sustainable use of water resources over time. Chennai Metrowater currently supplies around 1,100 million litres of water daily too its consumers, up from 1,011 millions liters on the same day last year, according to available data.