JSW Cement's 36-billion-rupee ($413 million) IPO was fully subscribed on the third day of bids on Monday, as investors bet on the Indian firm's long-term growth prospects backed by the government's push in infrastructure and housing. Cement makers in India, the second-largest global producer of the material, have bet on rising government spending on infrastructure and material, have bet on rising government spending on infrastructure and an upbeat housing sector to drive demand, spurring increased dealmaking over the past few years. Cement demand is expected to grow 6%-7% annually through 2030, Moody's Ratings said in a note in May. Analysts also forecast prices strengthening as they recover from last fiscal year's multi-year lows. Total bids were 1.31 times the shares on offer, exchange data showed as of 1:00 p.m. local time. Institutional as well as retail investors matched the allotted share portions on offer for them. Shares of the cement maker, which aims for around a $2.3 billion valuation, are slated to list on August 14 on the National Stock Exchange and Bombay Stock Exchange.  JSW Cement has a competitive edge as "access" to group companies across steel, energy and marine infrastructure sectors sets it up for sourcing key raw materials such as blast furnace slag and power at "easy and competitive terms," said brokerage Anand Rathi Research in a note in July.
 

Chennai-based DRA Group has entered into a memorandum of understanding (MoU) with Philippines-based Balajadia Family office to create a special purpose vehicle (SPV) platform. This 50:50 joint venture will see the development of one million sq ft of grade-A commercial and retail spaces in Chennai and Bengaluru under phase-I, with an estimated investment value of $100 million. Ranjeeth Rathod, managing director, DRA said, "This collaboration allows us to combine local expertise with global capital to drive sustainable real estate growth." Lloyd Balajadia said, "We look forward to not only creating landmark developments in India but also welcoming future collaborations that bring Indian expertise to the Philippines in time."

MCG and MCM have introduced artificial intelligence (AI) to boost revenue from property tax. MCG has so far generated a revenue of Rs 200 crore, which is around 72% of its target set for FY26, and MCM's has already crossed the Rs 29 crore-mark, the revenue it generated in the last fiscal year. We took the data of self-certified properties with the highest dues and used generative AI, which is a bot, to call the owners. This bot answers in real time. If you did not pay property tax, it will ask you what difficulties you faced and subsequently address your concerns. Before reaching out to people, we segregated the data into categories of those who promised to pay or refused to pay the taxes and those who faced difficulties in paying them. Most of the people contacted ended up paying the taxes. Using AI for property tax collection was started as a pilot project in Yamunanagar, where Sinha served as the civic body commissioner before heading MCM. Meanwhile, residents pointed out that since MCG was generating so much revenue, it should invest money in the city's development. "The city is clearly lacking the kind of manpower and machinery it needs to function. MCG should learn from other municipal corporations and invest in the right kind of machinery," said Gauri Sarin, convener of the group Making Model Gurugram.
 

UAE-based BNW Developments, a company promoted by Ankur Aggarwal and Vivek Anand Oberoi, plans to launch projects worth Rs 20,000 crore next year. The company has already launched projects worth Rs 10,000 crore and has 30 projects in its portfolio. It plans to add 10–15 more projects by next year. “We are acquiring ready-to-move-in buildings in Dubai and selling them again after refurbishing. There is a demand-supply gap, and we feel these projects are important for the region,” said Ankur Aggarwal, chairman and founder of BNW Developments. The company has recently entered into a collaboration with FashionTV to launch a branded residential development on Al Marjan Island in Ras Al Khaimah—an area currently undergoing rapid development and positioning itself as a hub for tourism, investment, and luxury real estate within the UAE. Eight million visitors are expected to visit Ras Al Khaimah every year by 2027, and the company is focused on branded residences to bridge the gap in demand and supply there. “Al Marjan Island and Ras Al Khaimah as a whole, are no longer peripheral players. With strategic infrastructure investments, global hospitality interest, and visionary governance, this region is fast becoming a nucleus for new-world urbanism. With global names like Wynn Resorts making their debut on Al Marjan Island, the area has seen a significant rise in demand with projected rental yields reaching upwards of 8–14, making it a lucrative choice for discerning investors.
 

JSW Cement, part of the diversified JSW Group, on Wednesday mobilised Rs 1,080 crore from anchor investors, a day before its initial share sale opening for public subscription.  This anchor portion witnessed participation from domestic and foreign institutional investors including Nomura, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Investment Fund, Goldman Sachs (Singapore) Pte and Kuwait Investment Authority, according to a circular uploaded on BSE's website. Also, SBI Mutual Fund (MF), Nippon India MF, Tata MF, Aditya Birla Sun Life MF, Motilal Oswal MF and SBI Life Insurance Company are among investors. As per the circular, JSW Cement has allotted 7,34,69,386 equity shares to 52 funds at Rs 147 apiece. This aggregates the transaction size to Rs 1,080 crore. The company has set a price band of Rs 139-147 per share, valuing the 17-year-old company at Rs 20,000 crore at the upper end of the price band. Synergy Metals Investments Holding is an arm of Synergy Metals and When asked about the reasons for scaling down the IPO size from Rs 4,000 crore to Rs 3,600 crore, Parth Jindal, the managing director of JSW Cement, had stated it is led by business requirements in current times and also to make future dilutions possible. At the time of announcing the IPO, the cement industry's condition was not as good, necessitating a higher sum of money. On the financial front, the company's revenue from operations for FY25 stood at Rs 5,813.1 crore against Rs 6,028.10 crore in FY24, and Rs 5,836.72 crore in FY23. The company reported a loss of Rs 163.77 crore in FY25. Its profit was Rs 62 crore in FY24 and Rs 104 crore in FY23. As of March 31, 2025, JSW Cement had an installed grinding capacity of  
 

Gurugram-based Ummeed Housing Finance Pvt Ltd (UHFPL), an affordable housing finance company, on Tuesday said it has secured Rs 250 crore in funding from British International Investment (BII). BII is the UK's government development finance institution. The investment will enable Ummeed to provide more low-cost long-tenure housing finance to low-income groups in India. The funds will be deployed as mortgage-backed loans to underserved borrowers, with a strong emphasis on empowering them through property ownership and financial inclusion, the company said in a statement. These loans will support homeownership, in line with Ummeed's commitment to inclusive growth, it added. The fresh infusion of capital is expected to benefit up to 3,000 women borrowers through mortgage-backed loans and has been qualified as a 2x investment, part of a global initiative aimed at advancing women's economic empowerment. "This BII facility will help us drive the development agenda, leading to the improvement in the quality of life for borrowers and co-borrowers in the low- and middle-income strata of the society," Ashutosh Sharma, Founder & Managing Director, UHFPL. UHFPL primarily provides affordable housing finance to the low- and middle-income households.

LIC Housing Finance has reported a growth of 4.41 per cent in its net consolidated profit during the quarter ended June 30, 2025. Its profit after tax stood at ?1,364 crore in Q1 FY26 as against ?1,306.40 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ?7,250.16 crore in The company's net consolidated total income stood at ?7,250.16 crore in the similar quarter last year. Tribhuwan Adhikari, managing director & chief executive officer of the company said, "The current year has started off strongly as we reduced the lending rates during this quarter in view of RBI rate cut. Additionally, we also introduced zero processing fee, in order to ease access to housing credit." As on June 30, 2025, its net worth stood at ?35,934.06 crore, debt-equity ratio was 7.71, total debts to total assets was 0.88, operating margin was 23.49%, net profit margin was 18.80%, gross non-performing assets (NPAs) was 2.62%, net NPA was 1.30% and liquidity coverage was 177.43%. The board has constituted a review committee for identification of wilful defaulter. The provisions for expected credit loss (ECL) stood at ?5,051.27 crore as on June 30, 2025, as against ?5,670.07 crore as on June 30, 2024. The stage 3 exposure at default as of June 30, 2025, stood at 2.62% against 3.30% as of June 30, 2024.
 

To safeguard homebuyers and curb project delays, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has made it mandatory for developers seeking project registration extensions beyond one year to deposit an additional 20% of the amount collected from allottees into the designated project account. The directive is issued under Section 7(3) of the RERA Act, 2016, allowing the TNRERA to impose further terms in the interest of homebuyers rather than cancel project registrations outright. Officials say the step is aimed at ensuring that funds collected from buyers are available for construction and not diverted for other purposes. TNRERA said many project delays were linked to insufficient funds in the project escrow account, where 70% of collections are already mandated to be deposited. Now, if the extension sought for a project exceeds one year, the promoter must park an additional 20% of buyer collections into the account. However, small and mid-sized builders raised concerns. "We invest our own money to build initial units before any bookings take place. Only after seeing physical progress do buyers come forward," said S Ramprabhu, chairman of DTCP committee at Builders Association of India. "Asking for 20% extra deposit when we haven't collected much from buyers could affect our cash flow." G Mohan, former president, Chennai Southern Builders Association, said, "If the delay is due to natural problems like rain or flood, TNRERA should exempt the builder."

Brookfield India Real Estate Trust (BIRET) has reported reported a 13% year-on-year (YoY) rise in net operating income (NOI) to ?4,986 million for the quarter ended June 30, 2025. The REIT achieved gross leasing of 651,000 sf during the quarter, registering an average re-leasing spread of 22%. Committed occupancy surged to 89%, marking a nine per cent improvement over the past 18 months since SEZ reforms, and a cumulative 4.6 million sf of gross leasing across its portfolio. Income from operating lease rentals rose 9% year-on-year to ?4,583 million, while the REIT announced a distribution of ?5.25 per unit totaling ?3,190 million, marking a 17% year-on-year increase. Alok Aggarwal, CEO and MD of the company said, "We expect to grow occupancy to more than 95%, driving 13% growth in NOI and 22% growth in distribution over the current quarter. Our proposed fundraise will further strengthen our ability to pursue large growth opportunities.” The board approved a preferential issue of ?1,000 crore to a diversified set of investors, aimed at bolstering growth ambitions. This follows the ?3,500 crore capital raise in December 2024. BIRET is also in discussions with its sponsor group to acquire grade-A properties in Bengaluru and Chennai. Supported by a dual AAA credit rating and 88% repo-linked borrowings, the trust expects further benefits from a lower interest rate environment, with 35bps of rate reduction already achieved and an additional 55bps transmission anticipated in Q2 FY26.
 

Around 20,000 houses along Old Mahabalipuram Road (OMR), Grand Southern Trunk (GST) Road, and the city's southern outskirts will receive piped natural gas (PNG) within the next 18 months, said M Thirukumaran N T, regional head (Kanchipuram) of THINK Gas, which holds licences for Kanchipuram. The company currently has 5,500 active domestic connections, nearly 60% of them concentrated in Sholinganallur, Thiruporur, Thalambur, and Thaiyur along OMR. We have created adequate infrastructure across OMR, parts of GST Road beyond Tambaram, and southern suburbs. Expansion work is ongoing," he said, adding that pipeline networks have been looped with multiple supply sources to ensure uninterrupted service even if one line is disrupted. While infrastructure is in place, the company is facing challenges in driving demand. In many shared living spaces, especially bachelor accommodations, residents don't seek gas connections as they depend on food apps or office canteens. We have identified potential high-rises like Hiranandani (Siruseri) where work could begin soon," he said. The process of getting a PNG connection has been simplified. Pipelines with valves are already laid along main roads and can be extended to individual homes. For high-rises, gas risers up to 28 metres are provided. Pipeline expansion is hampered by strict work-hour limits, allowing activity only between 11pm and 5am, with effective hours reduced to five due to setup and clearance. Approvals are slow, taking two months from highways and another month from traffic police, while 45-day permits lapse during processing. Gas firms have asked TIDCO to implement single-window clearances to cut timelines to five-seven working days.
 

Shares of IndiQube Spaces fell nearly 15% in their trading debut on Wednesday, as broader markets were muted ahead of a looming U.S. tariff deadline, valuing the Indian workspace solutions provider at 44.13 billion rupees ($506 million). IndiQube's debut is among a dozen Indian IPOs this month, but only the second to list at a discount. The firm's $80.3 million IPO was subscribed 12.4 times last week, drawing strong demand from both retail and institutional investors. Its shares opened at a 9% discount to the IPO price of 237 rupees in Mumbai. They were down 11.3% at 210.15 rupees at 11:30 a.m. IST. India's equity benchmarks were flat on caution ahead of the U.S. Federal Reserve's policy decision and a key tariff deadline later this week. IndiQube is well-placed to ride India's growing demand for office space, but its dependence on the cities of Bengaluru, Pune, and Chennai -which generate 89% of its revenue - heightens its vulnerability to regional slowdowns, analysts at Deven Choksey Research said. Rising competition from listed peers like Awfis, Smartworks, and the IPO-bound WeWork India could also weigh on pricing power, they said. Smartworks listed at a 14% premium on July 17, as investors bet on surging demand for integrated office solutions in India. Its shares have fallen about 6% since then.
 

An investment vehicle backed by Abu Dhabi sovereign investor ADQ and partly owned by Sheikh Tahnoon bin Zayed al-Nahyan is in advanced discussions to buy a minority stake in Blackstone-backed Aadhar Housing Finance, said people in the know. Sheikh Tahnoon is the United Arab Emirates national security adviser as well as ADQ chair. The $200-225 million investment (Rs 1,750-2,000 crore) will be made  through the secondary sale of shares for a 10-12% stake in the affordable housing finance company, which held an IPO in 2024. A formal announcement is expected in the coming weeks, said the people mentioned cited above. Blackstone declined to comment about the identity of the new investor or any other details. ADQ and Sheikh Tahnoon’s office didn’t respond to. On Friday, Aadhar closed at Rs 496.90 for a market value of Rs 21,469.03 crore. In the past month, it has appreciated 12.11% in anticipation of a transaction. Year to date it is up 18.63% on the back of a robust performance. The company reported a 19% increase in net profit to Rs 237 crore in the first quarter ended June. The industry is likely to see a five-year CAGR of 17-18%. The management and the board will stay in place. Under Blackstone's six-year ownership, Aadhar’s AUM has ballooned to $3 billion, 1.2x that of its nearest competitor. Other than ADQ, Abu Dhabi has several sovereign investment funds, including ADIA, Mubadala and AI-focused MGX. The oil-rich emirate has been keen on betting large sums to back new vehicles as it positions itself as a hub of global capital. For example, in 2024, ADQ and Chimera Investment--part of the sprawling business empire of Sheikh Tahnoon–launched Lunate, which has emerged as one of the hottest new asset managers of the region, which has invested in close to 30 deals in one year. Lunate also owns Alterra, a $30 billion climate fund, with international groups BlackRock, TPG and Brookfield. ADQ has committed $6.5 billion to Alterra. Lunate includes Alterra in its assets under management.