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Category: Economy

  • Issuer Engagement and Investor Awareness Take Centre Stage in India’s Bond Market Initiative with SEBI

    SEBI Chairman Tuhin Kanta Pandey said the inaugural outreach programme, conducted with NSE and BSE, is aimed at improving participation, transparency, and trust through the “Bonds – Ek Sashakt Bandhan” initiative.

    Mumbai, February 4, 2026: Efforts to deepen participation and improve confidence in India’s corporate bond market were highlighted at the inaugural Bond Market Issuer Outreach Programme conducted by Securities and Exchange Board of India in collaboration with BSE and National Stock Exchange of India. The programme brought together regulators, corporate bond issuers, institutional investors, market intermediaries, and industry and investor associations.
    India’s corporate bond market has expanded steadily over the last decade, growing from Rs 17.5 trillion in FY15 to Rs 53.6 trillion in FY25, translating into an annual growth rate of about 12 percent. With continued reforms, innovation, and institutional strengthening, projections indicate that the market could cross Rs 100 trillion to Rs 120 trillion by 2030. The expansion of the bond market is considered critical for mobilising long term capital, reducing dependence on bank financing, and supporting infrastructure, industrial growth, and climate related investments.

    A key feature of the programme was the introduction of the tagline “Bonds – Ek Sashakt Bandhan” for online bond platform providers. The initiative is intended to improve recall, reinforce trust, and assure investors of transparency, safety, and reliability in corporate bond investments. Alongside this, SEBI, BSE, and NSE released a documentary tracing the development of India’s bond market, as well as investor awareness and protection videos to improve understanding of corporate bonds among retail investors.
    Speaking at the programme, Tuhin Kanta Pandey, Chairman of SEBI, said the next phase of corporate bond market development will depend on coordinated efforts by issuers, investors, intermediaries, stock exchanges, and regulators. He added that SEBI, in coordination with market infrastructure institutions and online bond platform providers, will continue outreach initiatives for issuers alongside awareness programmes for retail investors.

    Sundararaman Ramamurthy, Managing Director and Chief Executive Officer of BSE, said that while bond platforms play an important role in facilitating issuance and trading of debt instruments, the development of a vibrant corporate bond market requires a holistic ecosystem. He highlighted the importance of a strong sovereign yield curve, broader issuer participation beyond top rated entities, effective risk hedging tools, and a clear value proposition for retail investors.

    Ashishkumar Chauhan, Managing Director and Chief Executive Officer of NSE, said that India’s corporate bond market growth has been supported by structural reforms and increasing confidence among market participants. He noted that NSE’s electronic bidding and request for quote platforms have enabled transparent and competitive price discovery in both primary and secondary markets, adding that continued innovation and collaboration will be essential to strengthening the debt market ecosystem.
    The outreach programme reflects a coordinated effort by regulators and exchanges to deepen issuer and investor engagement and build a more inclusive and resilient corporate bond market aligned with India’s long term economic objectives.
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  • NAREDCO Maharashtra, Shriram Group, Apollo AyurVAID, ProV, Bhanzu, and others flag priorities ahead of Budget 2026

    Prashant Sharma, Kaushal Agarwal, Shilpin Tater, Kamlesh Thakur, Shraddha Kedia Agarwal, Gaurav Varma, Dhruman Shah, Ashwani Dhanawat, Umesh Revankar, Rajiv Vasudevan, Ankush Jain, and D L Prachotan share expectations

    As India approaches the Union Budget 2026, leaders across housing, finance, healthcare, food, and education are calling for targeted policy measures to sustain demand, improve affordability, and strengthen people-facing sectors that have a direct bearing on household consumption, employment, and social outcomes. From real estate and insurance to healthcare delivery, nutrition, and education, industry voices highlight the need for continuity, access, and long-term structural support.

    Housing and Real Estate

    Prashant Sharma, President, NAREDCO Maharashtra, said the real estate sector remains a critical contributor to economic growth and employment, and expects policy support that strengthens affordability and project execution.
    “The real estate sector continues to be a critical driver of economic growth, employment generation, and allied industries. In the upcoming Union Budget, the industry is hopeful of measures that further strengthen end-user demand, enhance affordability, and accelerate project execution. Granting infrastructure status to housing, especially affordable and mid-income segments, would significantly improve access to institutional finance and reduce borrowing costs for developers.
    We strongly urge the government to revisit tax benefits for homebuyers by increasing the deduction limits on home loan interest and principal repayment under Sections 24(b) and 80C, which have remained unchanged for years. Rationalization of GST on construction materials and clarity on input tax credit would also help ease cost pressures. Additionally, faster approvals, policy support for redevelopment and urban housing, and incentives for sustainable and green developments will go a long way in supporting the sector’s long-term, inclusive growth.”

    Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory, said housing demand has shown resilience but requires calibrated relief to sustain momentum.
    “As the Union Budget 2026 approaches, the real estate sector will be watching closely for policy continuity and targeted measures that further strengthen housing affordability and sustain end-user confidence. The market has demonstrated strong resilience over the past year, supported by steady sales across major cities and rising participation from genuine homebuyers.
    In this context, calibrated tax relief for buyers, particularly in the mid-income and affordable segments, such as enhanced deductions on home loan interest and principal, along with a relook at stamp duty and registration charges, could meaningfully ease the cost of ownership and encourage first-time buyers.”

    Shilpin Tater, Managing Director, Superb Realty, pointed to rising construction costs and the need for execution support.
    “The real estate sector continues to be a key driver of economic growth, employment generation, and urban transformation. As we approach the Union Budget, the industry is optimistic about policy measures that enhance project viability and sustain end-user demand across both residential and commercial segments.
    We also expect the government to address rising construction costs through rationalisation of GST on key building materials and greater clarity on input tax credit. Faster approvals, policy support for redevelopment, and targeted incentives for green and sustainable developments will help improve supply efficiency.”

    Kamlesh Thakur, Co-founder and Managing Director, Srishti Group, emphasised infrastructure-led growth and access to capital.
    “The real estate sector remains a key pillar of India’s economic growth and urban transformation. In the forthcoming Union Budget, we expect policy measures that strengthen housing affordability, improve project viability, and accelerate urban development.
    Increasing tax benefits for homebuyers and extending interest subsidy schemes will go a long way in supporting genuine end-user demand, particularly in the affordable and mid-income segments.”

    Shraddha Kedia Agarwal, Director, Transcon Developers, said clarity and execution will be essential across housing segments.
    “In the forthcoming Union Budget, we expect policy measures that further strengthen housing affordability, provide greater ease of doing business, and support timely project execution. Enhancing tax benefits for homebuyers and ensuring easier access to long-term, low-cost funding will help sustain end-user confidence across housing segments, including luxury housing and mixed-use developments.”

    Gaurav Varma, Director, ORA Group, highlighted evolving buyer preferences and redevelopment-led demand.
    “The real estate sector continues to be a vital enabler of urban growth and economic momentum. Strengthening tax incentives for homebuyers and ensuring access to long-term, cost-efficient funding will help sustain healthy end-user demand across segments.
    In addition to apartments, plotted developments and second homes are witnessing rising interest, driven by improved infrastructure, work-from-anywhere trends, and the aspiration for lifestyle-led ownership.”

    Dhruman Shah, Promoter, Ariha Group, pointed to the growing role of luxury and redevelopment projects.
    “In the forthcoming Union Budget, we expect policy measures that improve project viability, streamline approvals, and enhance housing affordability for end users. Strengthening tax incentives for homebuyers and ensuring easier access to long-term, low-cost funding will help sustain demand across segments, including premium and luxury housing.”

    Finance and Insurance

    Ashwani Dhanawat, Executive Director and Chief Investment Officer, Shriram General Insurance, said deeper reforms are required to improve penetration and affordability.
    “Union Budget 2025 delivered positive measures for the non-life insurance sector, including the increase in FDI to 100%, but insurance penetration in India remains low at around 1% of GDP, underscoring the need for deeper structural reforms.
    In health insurance, enhancing Section 80D limits to ₹50,000/₹1 lakh and extending full tax benefits to senior citizens with standalone policies will help address rising healthcare costs.”

    Umesh Revankar, Executive Vice Chairman, Shriram Finance, highlighted the importance of execution and funding stability.
    “The broad expectation from the upcoming Budget is continued support for India’s growth priorities with a strong focus on implementation. With large infrastructure projects already identified, timely execution, smoother coordination, and reduced approval friction will be key to ensuring that spending translates into durable assets that improve productivity.”

    Healthcare and Ayurveda

    Rajiv Vasudevan, MD, CEO and Founder, Apollo AyurVAID, called for sustained investment in evidence-based Ayurveda.
    “Over the last few years, the government has made sustained and visible efforts to build awareness and credibility for the Ayush medical system, both within India and globally.
    However, translating this intent into substantial reality shall require dedicated investment commitments of the order of a minimum of INR 500 cr. per year over the next 5 years whereby robust evidence is built for Ayurveda as treatment of choice for select medical conditions.”

    Food and Nutrition

    Ankush Jain, CFO, Proventus Agrocom Limited (ProV), said policy support is needed to strengthen healthy food ecosystems.
    In recent years, India’s FMCG and food ecosystem has witnessed a meaningful shift, with consumers becoming more conscious about nutrition, transparency, and quality of the food they are having.
    As India is awaiting the upcoming budget 2026–27, the expectation speaks out loud this time demanding the government to continue strengthening support for food innovation, healthy living, sustainable sourcing and packaging, and modern retail infrastructure.”

    Education and Entrepreneurship

    D L Prachotan, Co-founder and Head of Business Development, Bhanzu, emphasised the importance of nurturing entrepreneurship.
    “India’s entrepreneurial landscape has transformed dramatically in the last few years. We are transitioning from job seekers to job creators.
    As India is awaiting the next budget, my expectation is that the government will double down on enabling this momentum wherein we not just create more opportunities for Indian entrepreneurs but also build strong ecosystems which attract global talent.”

    Closing Context
    Across sectors, the expectations ahead of Budget 2026 converge on a common theme: sustaining affordability, improving access to finance and services, and strengthening execution across people-facing industries that directly shape consumption, wellbeing, and opportunity

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  • Scrap share in steelmaking expected to rise as India scales production, IMRC 2026 hears

    Daya Nidhan Pandey cited current and projected scrap availability while addressing the conference

    Jaipur, January 20, 2026: The share of scrap in India’s steelmaking process is expected to rise as the country continues to expand its steel production capacity, according to remarks made at the 13th International Material Recycling Conference and Exposition.
    Addressing the inaugural session of International Material Recycling Conference and Exposition 2026, Daya Nidhan Pandey, Joint Secretary, Ministry of Steel, said scrap currently contributes nearly 21 percent of India’s crude steel production, compared to a global average of around one-third. He added that scrap availability in India is estimated to reach nearly 36 million tonnes, indicating a sharp rise in demand as large-scale capacity expansion continues.

    Pandey referred to recent policy measures, including the Steel Scrap Recycling Policy 2019, the Vehicle Scrappage Policy, the rollout of Registered Vehicle Scrapping Facilities, and the integration of scrap management with national circular economy initiatives. He said newly notified Extended Producer Responsibility mandates for end-of-life vehicles and construction and demolition waste are expected to accelerate formal scrap recycling.
    Looking ahead, Pandey said India is aiming to progressively raise the share of scrap in steelmaking toward the global average of 31 percent. He said that as the country moves toward 300 million tonnes of steel capacity by 2030 and 500 million tonnes by 2047, scrap-based steelmaking will play a key role in conserving raw materials, reducing coal imports, lowering emissions, and supporting India’s net zero target for 2070.

    He also said scrap-based steel production supports decarbonisation by substituting iron ore and coking coal while avoiding carbon emissions. With India targeting 300 million tonnes of crude steel capacity by 2030–31, recycled steel scrap consumption is expected to gain further momentum.
    Highlighting operational challenges, Sanjay Mehta, President of Material Recycling Association of India, called for policy rationalisation, including a reduction in GST on scrap to 5 percent. He said high tax rates are affecting sector growth and compliance, and added that import duty on aluminium scrap should be removed. He also pointed to gaps in the implementation of Extended Producer Responsibility across e-waste, tyres, and plastics.

    Mehta said nearly one-third of scrap in India originates from ragpickers, households, and small workshops. He added that routing scrap purchases from the unorganised sector through UPI-based transactions, while discouraging cash at the first level of collection, would help bring workers into the formal economy.
    Speaking on industry trends, Dhawal Shah, Senior Vice President, MRAI, said recycling in India has shifted from being a CSR-linked activity to a core business strategy. He said the country now has more than 1,400 startups operating across waste management and sustainability, and that recycling could surpass mining as an industry well before 2050.
    Other speakers at the session included Zain Nathani, Amar Singh, and Rajat Agarwal, Managing Director of Gravita India Limited. Agarwal said global green funds and ESG-focused investors are actively backing scalable recycling platforms, adding that capital availability is no longer a constraint for responsible recyclers.
    Organised by the Material Recycling Association of India, the three-day conference is being held from January 20 to 22, 2026, at the Novotel Jaipur and Convention Centre, Jaipur.
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  • When an index outlived cycles, reforms, and governments, BSE kept the score

    SEBI Chairman Shri Tuhin Kanta Pandey and BSE MD & CEO Shri Sundararaman Ramamurthy reflect on how the SENSEX evolved alongside India’s capital market architecture over four decades

    When the SENSEX was introduced in 1986, India’s capital markets were small, tightly regulated, and largely inaccessible to the average household. Trading volumes were thin, participation was limited, and the idea of equity as a long-term wealth-building tool was still unfamiliar to most Indians. Four decades later, the index has outlasted multiple political regimes, economic crises, regulatory overhauls, and technological revolutions, quietly becoming one of the country’s most enduring financial reference points.
    Tracked daily by investors, institutions, policymakers, and global funds, the SENSEX has evolved in tandem with India’s broader market architecture. From manual trading floors to algorithm-driven systems, from market-cap weighting to free-float methodology, and from a closed economy to a globally integrated one, the index has absorbed structural change without losing relevance.

    Today, the SENSEX represents nearly 40 percent of India’s total market capitalisation and serves as the underlying benchmark for ETFs, index funds, and one of the world’s most actively traded index derivatives contracts. Its transition in 2003 to a free-float market-cap methodology aligned it with global index construction standards, reinforcing its credibility among international investors while retaining its domestic relevance.
    Speaking on the milestone, Tuhin Kanta Pandey, Chairman of Securities and Exchange Board of India, noted that the index’s longevity reflects more than just market performance. It mirrors the institutional maturity of India’s capital markets, shaped by regulatory reform, stronger disclosure norms, improved governance, and expanding investor protection frameworks. Over time, the SENSEX has functioned as a real-time ledger of economic confidence, responding not just to corporate earnings but to shifts in policy, capital flows, and systemic resilience.

    From liberalisation in the 1990s to the rise of domestic mutual funds, and more recently, the surge in retail participation and digital trading platforms, the index has continuously recalibrated itself to reflect the changing composition of India Inc. Its constituent churn over the years captures the transition of the economy itself, from traditional manufacturing dominance to services, technology, financial services, and consumption-led growth.
    For BSE Limited, which houses the index, the 40-year mark is as much about continuity as it is about adaptation. Sundararaman Ramamurthy, Managing Director and CEO of BSE, described the SENSEX as an institutional memory of India’s markets. He emphasised that the index has remained relevant because it has evolved with the ecosystem, incorporating technology-led efficiencies, supporting new asset products, and reflecting shifts in market participation without compromising its role as a stable benchmark.

    Notably, the SENSEX’s long-term compounded annual growth rate has broadly tracked India’s nominal GDP growth over the same period. That alignment has reinforced its perception as a proxy for the country’s economic expansion rather than a short-term trading instrument alone. Through financial crises, global shocks, and domestic slowdowns, the index has demonstrated that consistency, rather than volatility, is what builds long-term investor trust.
    As India’s markets move deeper into an era defined by financialisation, data-driven trading, and expanding global linkages, the role of legacy benchmarks like the SENSEX is also being redefined. While new thematic and sectoral indices proliferate, the SENSEX continues to serve as the common language between retail investors, policymakers, and global capital.
    Four decades on, the index is no longer just a number flashed across trading screens. It is a historical record of how India’s capital markets learned to absorb reform, survive disruption, and institutionalise trust, one trading day at a time.
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  • DotMe brings in external counsel as it prepares for its next growth chapter

    Sagar Nair steps into a strategic advisory role to guide product, monetisation, and ecosystem partnerships

    As DotMe prepares for its next phase of growth, the platform has brought in external strategic counsel to support its evolving product and monetisation roadmap. DotMe has engaged Sagar Nair in a strategic advisory role, marking a step toward strengthening leadership input as the company scales.
    Nair will work closely with DotMe’s leadership team to guide strategic growth initiatives, advise on product direction and monetisation frameworks, and help strengthen ecosystem partnerships. The move follows DotMe’s recent association with Nikhil Chinapa, as the platform deepens its engagement with creators and culture-led communities.

    DotMe operates as a link-in-bio and creator monetisation platform, allowing creators, businesses, and professionals to consolidate content, connect platforms, track performance, and monetise through a single, customisable digital link. As creator-led businesses grow more complex, the platform is positioning itself as infrastructure that supports ownership, data visibility, and commercial clarity.
    Nair brings experience across gaming, consumer technology, and interactive media. He is the co-founder and former Chief Executive Officer of Qlan, a gamer-first community platform focused on user acquisition, retention, and monetisation. During his tenure, Qlan raised pre-seed funding, expanded into international markets, and tested early monetisation use cases.

    He currently serves as Head of Incubation and Initiatives at ChimeraVC, where he leads LVL Zero, an incubator supporting early-stage gaming founders across India. His advisory role at DotMe draws on this background in building and scaling digital communities.
    Commenting on the role, Nair said the creator economy continues to expand, but monetisation and ownership remain fragmented across platforms. He noted that DotMe’s approach of combining simplicity with data capabilities enables creators and businesses to better understand their audiences, validate value through measurable metrics, and maintain greater control over growth.

    Harsh Vijaykumar, co-founder of DotMe, said Nair’s experience in scaling digital communities with a focus on monetisation aligns closely with the company’s current priorities. He added that as DotMe enters its next growth phase, the advisory support is intended to strengthen strategic decision-making around product and ecosystem development.
    DotMe has seen increasing adoption among creators across entertainment and digital culture, with names such as Prince Narula, Hamid Barkzi, and Ashish Bhatia shifting their link-in-bio tools to the platform. The company is positioning itself as a data-driven alternative within a segment dominated by global incumbents.

    Founded by Harsh Vijaykumar along with co-founders Ajay Ghanti, Pranay Jain, and Akshay ND, DotMe reports over 100,000 unique monthly users. The platform raised USD 150,000 in funding in March 2025 in a round led by Mirza L. Baig, as it continues to invest in platform capabilities and creator–brand engagement.
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  • Why USD 75 million in global impact capital is flowing into India’s compliant digital lending platforms like True Credits 

    Anupam Vasadani of Balancehero India and Ravi Vukkadala of CIM shared how the capital enhances liquidity and risk discipline

    Global impact capital is increasingly finding its way into India’s regulated digital lending ecosystem, and a USD 75 million debt facility secured by Balancehero India places this trend into sharp focus. The funding, extended by Community Investment Management, a U.S.-based institutional impact investment manager, strengthens the capital base of True Credits, the RBI-licensed NBFC operating through the TrueBalance fintech platform.
    The transaction reflects growing confidence among global investors in compliant, scale-ready lending models that serve underserved and credit-invisible users across India. For Balancehero India, the parent company of True Credits, the funding is positioned as a catalyst for its next phase of expansion, spanning new markets, product categories, and customer segments.

    True Credits has emerged as a significant participant in India’s digital lending space, particularly among borrowers who have limited access to traditional credit channels. Over the past year, the NBFC’s monthly loan disbursals have consistently crossed INR 500 crore, indicating sustained demand for digital credit delivered through regulated and transparent frameworks. The company attributes this growth to its AI-driven underwriting systems and a compliance-first operating model aligned with regulatory expectations.
    According to Anupam Vasadani, Group Chief Financial Officer at Balancehero India, the funding underscores the discipline with which the business has been built. He said the company’s focus on AI-enabled underwriting, strong unit economics, and regulatory alignment has positioned it well for its next stage of growth. Vasadani noted that strengthened liquidity, combined with Community Investment Management’s impact-oriented capital approach, will enable Balancehero to responsibly extend credit access to a wider base of borrowers.

    The structure of the funding also highlights the role of institutional debt in supporting fintech scale without compromising balance sheet stability. Rather than equity dilution, the facility provides Balancehero with growth capital while reinforcing risk discipline and capital adequacy. This approach aligns with the company’s stated objective of expanding access to fair, transparent, and accessible credit.
    Community Investment Management brings a long track record in impact-driven lending to the partnership. Since 2014, the firm has enabled approximately USD 18 billion in credit to more than 12 million underserved borrowers across North America and emerging markets. Its engagement with Balancehero signals a continuation of its strategy to back tech-enabled lending platforms that demonstrate responsible credit delivery at scale.

    Ravi Vukkadala, Country Director for India at Community Investment Management, said the partnership reflects the firm’s ambition to build a meaningful investment footprint in India. He pointed to True Credits’ focus on compliant lending to underserved segments as a strong strategic fit with CIM’s investment philosophy. Drawing on over a decade of experience investing in fintech platforms globally, Vukkadala said the firm expects the funding to support True Credits’ growth while maintaining rigorous standards around risk and borrower outcomes.
    Balancehero’s digital lending operations are powered by the TrueBalance app, which integrates lending with broader financial services such as bill payments and prepaid recharges. The platform’s reach extends across more than 95 percent of India’s pin codes, giving the company access to a geographically diverse user base. With both NBFC and PPI licenses in place, Balancehero operates within a regulatory framework designed to safeguard consumer interests while enabling innovation.

    The company has previously raised over USD 84 million in equity funding from global investors including NH Investment and Securities, Naver, Line, and Shinhan Venture Investment. The latest debt facility adds another layer of institutional validation, particularly at a time when scrutiny of digital lending practices has intensified across the sector.
    For both parties, the partnership is framed around a shared emphasis on financial inclusion. A significant portion of India’s population continues to face challenges in accessing dependable credit, particularly outside formal banking channels. Balancehero and Community Investment Management view responsible digital lending as a means to address this gap, provided it is supported by robust underwriting, transparency, and borrower protection.

    As India’s fintech landscape matures, transactions such as this reflect a shift in how global capital evaluates opportunity in the market. Scale alone is no longer sufficient. Investors are increasingly prioritising compliance, governance, and sustainable unit economics. The USD 75 million facility extended to Balancehero illustrates how these criteria are shaping capital flows into India’s digital lending sector.
    With strengthened liquidity and institutional backing, Balancehero is positioning True Credits to deepen its presence while adhering to the principles that have guided its growth so far. The partnership sets the stage for a measured expansion of credit access, aligned with both regulatory expectations and long-term impact objectives.
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  • A boardroom decision that fixed price, ownership, and control at Shriram Finance 

    The approved preferential issuance prices equity at INR 840.93 per share and brings MUFG Bank in as a minority public shareholder

    The decision approved in the boardroom on December 22 marked a defining structural moment for Shriram Finance Limited, not because of the capital involved alone, but because of how price, ownership, and control were deliberately fixed within a single resolution. At its meeting held in New Delhi, the Board of Directors cleared definitive agreements for a preferential issuance of equity shares that brings MUFG Bank Ltd. into the company as a minority public shareholder, without altering promoter control or management authority.
    Under the approved terms, the preferential allotment values Shriram Finance equity at INR 840.93 per share, in line with applicable SEBI guidelines. The transaction will result in MUFG Bank acquiring a 20 percent stake on a fully diluted basis, subject to shareholder approval, regulatory clearances, and customary closing conditions. The structure ensures that MUFG Bank is formally classified as a minority public shareholder, with governance rights defined but without any transfer of operational control.

    Management used the post-approval conference to clarify that control of the board and day-to-day management will remain with existing promoters. As outlined during the briefing, MUFG Bank will have the right to appoint two nominee directors, reflecting its long-term strategic participation while preserving continuity in leadership and decision-making. The presentation emphasized that the transaction has been designed to strengthen capital adequacy and balance sheet resilience rather than to alter ownership dynamics.
    The scale of the investment, amounting to INR 39,618 crore or approximately USD 4.4 billion, places the transaction among the most significant primary capital infusions seen in Indian financial services. Executives noted that the investment represents the largest foreign direct investment in a financial services company in India, underscoring international confidence in domestic lending platforms and regulatory stability. However, the conference framing focused less on record size and more on institutional maturity.

    Shriram Finance leadership highlighted that the capital infusion enhances the company’s long-term growth capacity by improving capital buffers, supporting future expansion across lending segments, and potentially improving access to lower-cost liabilities. With assets under management exceeding INR 2.81 trillion as of September 30, 2025, the company positions itself as India’s second largest retail non-banking financial company, excluding housing finance companies. The board approval reinforces its readiness to operate at a scale that meets global investor expectations.
    Speaking at the conference, Umesh Revankar, Executive Vice Chairman of Shriram Finance Limited, described the transaction as a defining point in the company’s growth journey. He said the entry of MUFG as a key investor reinforces global confidence in India’s financial services sector and in Shriram Finance’s role within it. According to Revankar, the collaboration is anchored in shared values around long-term growth, financial inclusion, and governance, with an emphasis on building a future-ready institution grounded in trust.

    The presence of Mitsubishi UFJ Financial Group at the conference further contextualized the strategic nature of the investment. Hironori Kamezawa, Group Chief Executive Officer of Mitsubishi UFJ Financial Group, stated that MUFG views the transaction as a strategic partnership rather than a financial holding. He noted that MUFG and Shriram Finance share aligned values and a common vision for supporting economic development, communities, and society in India. The investment in Shriram Finance represents MUFG’s largest investment in India to date.
    Conference materials detailed MUFG’s longstanding engagement with the Indian market, citing over 130 years of presence through its group entities and cumulative investments of approximately USD 1.7 billion. The Shriram Finance transaction was positioned as a continuation of that legacy, reflecting a measured approach to capital deployment that prioritizes governance alignment and long-term participation over majority ownership.

    From an operational standpoint, management outlined how the partnership is expected to support technology integration, innovation, and customer engagement over time. The capital infusion is also expected to strengthen Shriram Finance’s balance sheet metrics, including capital adequacy ratios, while supporting its diversified lending portfolio spanning commercial vehicles, MSME loans, tractors and farm equipment, gold loans, personal loans, and working capital products.
    The presentation also addressed broader sectoral implications, positioning the transaction within India’s financial inclusion agenda and the long-term vision of Viksit Bharat 2047. Shriram Finance emphasized its focus on rural and underserved segments, supported by a network of 3,225 branches, including 552 rural centres, and a customer base of over 9.6 million. Executives noted that enhanced capital strength allows the institution to expand responsibly while maintaining risk discipline.

    Transaction advisors for the deal include KPMG India Corporate Finance and J.P. Morgan for MUFG Bank, with legal advisory support from AZB and Partners and Nishimura and Asahi. Shriram Finance was advised by Wadia Ghandy and Co. The conference clarified that timelines for completion will depend on the receipt of regulatory approvals from authorities including the Reserve Bank of India and the Competition Commission of India.As the briefing concluded, the emphasis returned to structure rather than scale. By fixing pricing, defining minority rights, and preserving control within a single board decision, Shriram Finance signaled a model of capital partnership increasingly relevant to Indian financial institutions navigating global investor interest. The December 22 approval stands as a statement of intent on how large domestic lenders plan to engage foreign capital on their own institutional terms.
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  • A Quiet Reordering of Shareholding Is Underway at Shriram Finance With MUFG Bank

    The proposed INR 39,618 crore preferential equity issuance would give MUFG Bank a 20 percent holding in Shriram Finance, subject to shareholder and regulatory approvals.

    A significant change in the ownership structure of one of India’s largest retail lenders is taking shape as Shriram Finance Limited moves to bring a global banking institution onto its share register. The board of Shriram Finance has approved definitive agreements with MUFG Bank Ltd. for a preferential issuance of equity shares that would result in MUFG acquiring a 20 percent stake on a fully diluted basis, subject to approvals.
    The proposed transaction involves an investment of INR 39,618 crore and represents a rare instance of foreign capital entering the Indian non banking financial company sector at this scale. While the stake does not alter management control, it meaningfully reshapes the company’s ownership mix and long term capital profile. The investment is pending shareholder consent, regulatory clearances, and customary closing conditions.

    Shriram Finance operates as India’s second largest retail NBFC by assets under management, serving a broad customer base that includes small road transport operators, MSMEs, and individual borrowers across urban and semi urban markets. The company’s distribution reach and diversified loan portfolio have positioned it as a core participant in India’s credit ecosystem, particularly in segments underserved by traditional banking.
    From a balance sheet perspective, the proposed capital infusion is expected to strengthen Shriram Finance’s capital adequacy and provide long duration growth capital. The presence of a global banking shareholder may also influence future access to lower cost liabilities and support alignment with international governance and operational benchmarks, although the company will continue to operate as an independent listed entity.

    For MUFG Bank, the transaction marks its largest single investment in India to date. The bank is part of Mitsubishi UFJ Financial Group, which has maintained a presence in India for over a century through banking, corporate finance, and capital market activities. The group has previously invested approximately USD 1.7 billion in the country and employs several thousand people across its Indian operations.
    Umesh Revankar, Executive Vice Chairman of Shriram Finance, described the transaction as a defining moment in the company’s growth journey, noting that the entry of a long term global financial partner reinforces confidence in both the company and the broader Indian financial services sector. He emphasised that the partnership is expected to support sustainable growth while strengthening governance standards.

    Hironori Kamezawa, Group Chief Executive Officer of Mitsubishi UFJ Financial Group, stated that the group views Shriram Finance as a strategic partner aligned with its long term vision for India. He indicated that MUFG intends to support the company’s growth while contributing to economic development and financial inclusion.
    The transaction has been advised by a mix of domestic and international financial and legal advisors, reflecting the complexity and scale of the deal. Once completed, the investment is expected to set a reference point for future foreign participation in India’s NBFC sector, particularly in retail focused lending institutions.

    Rather than signalling a shift in control, the proposed investment points to a gradual recalibration of ownership and influence, one that strengthens Shriram Finance’s capital foundation while embedding a global financial institution within its shareholder base. In an industry where capital resilience and governance are increasingly scrutinised, the transaction underscores how strategic minority ownership can quietly reshape financial institutions over time.
    A significant change in the ownership structure of one of India’s largest retail lenders is taking shape as Shriram Finance Limited moves to bring a global banking institution onto its share register. The board of Shriram Finance has approved definitive agreements with MUFG Bank Ltd. for a preferential issuance of equity shares that would result in MUFG acquiring a 20 percent stake on a fully diluted basis, subject to approvals.

    The proposed transaction involves an investment of INR 39,618 crore and represents a rare instance of foreign capital entering the Indian non banking financial company sector at this scale. While the stake does not alter management control, it meaningfully reshapes the company’s ownership mix and long term capital profile. The investment is pending shareholder consent, regulatory clearances, and customary closing conditions.
    Shriram Finance operates as India’s second largest retail NBFC by assets under management, serving a broad customer base that includes small road transport operators, MSMEs, and individual borrowers across urban and semi urban markets. The company’s distribution reach and diversified loan portfolio have positioned it as a core participant in India’s credit ecosystem, particularly in segments underserved by traditional banking.

    From a balance sheet perspective, the proposed capital infusion is expected to strengthen Shriram Finance’s capital adequacy and provide long duration growth capital. The presence of a global banking shareholder may also influence future access to lower cost liabilities and support alignment with international governance and operational benchmarks, although the company will continue to operate as an independent listed entity.
    For MUFG Bank, the transaction marks its largest single investment in India to date. The bank is part of Mitsubishi UFJ Financial Group, which has maintained a presence in India for over a century through banking, corporate finance, and capital market activities. The group has previously invested approximately USD 1.7 billion in the country and employs several thousand people across its Indian operations.
    Umesh Revankar, Executive Vice Chairman of Shriram Finance, described the transaction as a defining moment in the company’s growth journey, noting that the entry of a long term global financial partner reinforces confidence in both the company and the broader Indian financial services sector. He emphasised that the partnership is expected to support sustainable growth while strengthening governance standards.
    Hironori Kamezawa, Group Chief Executive Officer of Mitsubishi UFJ Financial Group, stated that the group views Shriram Finance as a strategic partner aligned with its long term vision for India. He indicated that MUFG intends to support the company’s growth while contributing to economic development and financial inclusion.
    The transaction has been advised by a mix of domestic and international financial and legal advisors, reflecting the complexity and scale of the deal. Once completed, the investment is expected to set a reference point for future foreign participation in India’s NBFC sector, particularly in retail focused lending institutions.
    Rather than signalling a shift in control, the proposed investment points to a gradual recalibration of ownership and influence, one that strengthens Shriram Finance’s capital foundation while embedding a global financial institution within its shareholder base. In an industry where capital resilience and governance are increasingly scrutinised, the transaction underscores how strategic minority ownership can quietly reshape financial institutions over time.
    At Prittle PrattleNews, featuring you virtuously, we celebrate the commitment and innovation. Led by Editor-in-Chief Smruti Bhalerao, our platform is dedicated to sharing impactful stories that inspire change and create awareness. Follow us on LinkedIn, Instagram, and YouTube for more stories that matter.

  • A Regulated Route Into Digital Assets Takes Shape in the UK With Bybit’s Entry

    Bybit made Spot and P2P trading available to UK users under enhanced transparency and compliance norms

    Bybit has made its digital-asset trading platform available to users in the United Kingdom, marking its entry into one of the world’s most tightly regulated financial markets. The global cryptocurrency exchange said its UK operations are structured to align with Financial Conduct Authority financial-promotion requirements, with an emphasis on transparency and user protection.
    The UK launch gives users access to Spot trading across more than 100 trading pairs, along with peer-to-peer services. These offerings are supported by Bybit’s global liquidity infrastructure and internal risk-management controls, the company said.

    Crypto adoption in the UK has grown steadily over the past year. According to the Financial Conduct Authority, around 8 percent of UK adults now hold some form of digital asset. The increase in participation has brought greater scrutiny of platforms operating in the market, particularly around consumer protection and compliance standards.
    Bybit said its UK rollout reflects this environment, with products designed to offer structured access rather than speculative engagement. The platform’s operations follow established anti-money laundering and know-your-customer processes, and all services are offered in line with local financial-promotion rules.

    “Our goal is to give UK users reliable access to global opportunities in digital assets,” said Mykolas Majauskas, Senior Director of Policy at Bybit. “The UK has one of the most sophisticated financial ecosystems in the world, and its regulatory clarity provides a strong foundation for responsible innovation.”
    He added that the company plans to introduce additional products for UK users over time, while continuing to operate within a compliance-led framework.

    Ben Zhou, Co-founder and Chief Executive Officer of Bybit, said the UK launch represents a new phase for the exchange. “Over the past year, we have built products shaped by the needs of UK users. This marks the start of a chapter focused on informed participation in the digital-asset economy,” he said.

    Bybit’s UK operations are positioned as part of the company’s broader strategy to operate in markets with defined regulatory structures, as digital-asset platforms face increasing expectations from both users and regulators globally.
    At Prittle Prattle News, we honor your dedication and inventiveness led by showcasing you in a positive light. Under the direction of Editor-in-Chief Smruti Bhalerao, our platform is committed to disseminating powerful narratives that raise awareness and motivate change. For more important stories, follow us on LinkedIn, Instagram, and YouTub

  • Odisha recorded ₹7,043 crore in pharma and medical devices commitments under Chief Minister Shri Mohan Charan Majhi

    Investment agreements, job estimates and new industrial parks were announced following the Bhubaneswar event

    Odisha recorded investment commitments and intents worth ₹7,043 crore in the pharmaceuticals and medical devices sectors following the Odisha Pharma Summit 2025, held in Bhubaneswar. The State’s first dedicated summit focused on pharmaceuticals, medical devices and life sciences manufacturing was organised by the Government of Odisha in association with FICCI.
    Addressing the gathering, Chief Minister Shri Mohan Charan Majhi said Odisha aims to position itself as a leading destination for pharmaceutical and medical device investments, with a focus on innovation and employment generation. He stated that the State intends to offer a competitive environment for industry while creating large scale job opportunities.

    The summit brought together industry leaders, global manufacturers, medical technology innovators, researchers, investors and policymakers on a single platform. Discussions centred on Odisha’s manufacturing capabilities, policy framework, infrastructure readiness and availability of skilled manpower in the life sciences sector.
    As part of the outcomes, a total of 45 memoranda of understanding were signed across pharmaceuticals, medical technologies and industrial infrastructure. These MoUs represent investment commitments of ₹6,263 crore, with an estimated employment potential of 38,406 jobs. In addition, investment intent worth ₹780 crore was received during the event, with an associated employment potential of 6,240 jobs. Taken together, the commitments and intents amount to ₹7,043 crore and an employment potential of 44,646 jobs.

    In the pharmaceuticals segment, 32 MoUs were signed with proposed investments of ₹2,681 crore, expected to generate more than 6,528 jobs. The medical technology and devices segment saw 12 MoUs with committed investments of ₹582 crore and an estimated employment potential of 1,878 jobs. One MoU was signed for a large industrial park proposal involving an investment of ₹3,000 crore, with nearly 30,000 jobs projected.
    The summit witnessed participation from more than 300 organisations and over 400 delegates representing the life sciences value chain, including active pharmaceutical ingredients, bulk drugs, formulations, vaccines, diagnostics, medical devices, healthcare services, research institutions, skilling partners, industry associations and students.

    Industry participants included companies such as Infunex, Aurobindo Pharma, Granules Lifesciences, Macleods Pharmaceuticals, Biological E. Ltd, Pharmexcil, Vaccines and Cipla, which took part in sectoral discussions, investment deliberations and one to one meetings exploring opportunities in the State.
    A key outcome of the event was the launch of the Odisha Pharmaceutical and Medical Devices Policy 2025. The policy outlines measures covering infrastructure development, investment facilitation, research and development, skill development and incentives aimed at strengthening pharmaceuticals and medical devices manufacturing in the State.

    Chief Minister Shri Mohan Charan Majhi also unveiled two new industrial parks during the summit. One park is dedicated to pharmaceuticals at Khordha Nayagarh, while the second is a medical devices manufacturing park at Khordha. According to the State government, both parks are equipped with industrial infrastructure, common utilities, testing and certification facilities and compliance ready ecosystems to support faster project implementation.
    Senior officials from the Government of Odisha were present at the event, reflecting a coordinated approach to investor engagement and sectoral development. The discussions highlighted the State’s focus on ease of doing business, responsive governance and streamlined decision making.

    Following the summit, Chief Minister Shri Mohan Charan Majhi and a delegation from the Government of Odisha are scheduled to visit Hyderabad for a roadshow on December 19 as part of efforts to engage with industry and outline the State’s long term growth roadmap towards Samruddha Odisha by 2036.
    At Prittle PrattleNews, featuring you virtuously, we celebrate the commitment and innovation. Led by Editor-in-Chief Smruti Bhalerao, our platform is dedicated to sharing impactful stories that inspire change and create awareness. Follow us on LinkedIn, Instagram, and YouTube for more stories that matter.