Tuesday, August 25
New Delhi: State-owned NHPC will on Tuesday begin commercial operation of second unit of the 2,000 megawatt (MW) Subansiri Lower Hydroelectric Project, being constructed at a cost of around Rs 27,000 crore. NHPC, under Ministry of Power, is constructing the hydroelectric project (8 X 250 MW) near North Lakhimpur on the border of Arunachal Pradesh and Assam. This is the largest hydroelectric project ever undertaken in India and is a run-of-river project with water storage on Subansiri. In an exchange filing, NHPC said it "declares commercial operation of unit 2 (250 MW) of Subansiri Lower HE Project...from 00:00 hours on 23.12.2025."
Mumbai: Vedanta Resources, the London-based parent of Mumbai-listed Vedanta Ltd., is in advanced discussions with a group of global banks for a $500 million loan that is likely to close early next year, according to people familiar with the matter. The loan would be used to refinance high-cost debt, said the people cited above.The proposed facility is a four-year amortising loan with a weighted average life of about two and a half years and pricing of 425 basis points above the benchmark SOFR. One basis point is a hundredth of a percentage point.The lender group is led by Citigroup, Barclays, Mashreq, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp.Vedanta Resources plans to use about $200 million of the proceeds to refinance existing debt, with some part of the funds also direct
New Delhi: The draft Electricity (Amendment) Bill, 2025 proposes mandating cost-reflective tariffs and empowering electricity regulatory commissions to act suo motu when utilities delay tariff filings, Union power minister Manohar Lal said on Saturday.State governments may continue to provide subsidies to priority consumer groups such as domestic and agricultural users, Lal said, adding that there may be no increase in costs for these consumers.He was speaking after chairing a meeting of the Parliamentary Consultative Committee to discuss the proposed amendments, which have been released by the power ministry for stakeholder consultation, according to a statement.The bill aims to boost economic competitiveness by reducing distortions arising from cross-subsidies and surcharges, thereby sup
ICICI Prudential Asset Management, the country's second-largest mutual fund by assets, made its debut on the Indian bourses on Friday, with the stock listing at a 20% premium to its initial public offering price of ₹2,165. The expected listing price made it the most valuable asset manager in the country.The stock opened at ₹2,600 on the NSE and touched a high of ₹2,663.4, before ending slightly lower at ₹2,576.2.The company's market capitalisation stood at ₹1,27,331 crore at the close of trade on Friday, pipping HDFC Asset Management, the country's third largest by assets, to the top spot in the value table. HDFC AMC was valued at ₹1,14,525 crore on Friday."While the stock delivered meaningful listing gains, further sharp upside in the near term appears limited, as valuations a
Brookfield India Real Estate Trust has raised ₹2,000 crore through its maiden sustainability-linked bonds with the International Finance Corporation as an anchor investor, reports Kailash Babar. The listed REIT will pay a 7.06% quarterly coupon on the bonds that hold a tenure of five years. 7Brookfield India Real Estate Trust has raised ₹2,000 crore through its maiden sustainability-linked bonds with the International Finance Corporation (IFC) as an anchor investor, said persons with direct knowledge of the development.Other key subscribers include domestic and international institutional investors. The listed REIT will pay a 7.06% quarterly coupon on the bonds that hold a tenure of five years.This is the second fundraise by Brookfield India REIT in the last two weeks through equity an
