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Marking a major stride in India’s semiconductor ambitions, CG Semi, a unit of the Murugappa Group and CG Power, inaugurated a pilot line at its semiconductor packaging plant in Sanand on Thursday. The ₹7,600-crore project is backed by 50% funding from the Union government through the India Semiconductor Mission (ISM) and developed in collaboration with Renesas Electronics (U.S.) and Stars Microelectronics (Thailand).

Attending the inauguration, Union Minister of Electronics and IT, Ashwini Vaishnaw, confirmed that the G1 pilot line will soon produce India’s first ‘Made-in-India’ chip. “The initial chips will be used for customer qualification before full-scale production begins,” Vaishnaw said. Gujarat Chief Minister Bhupendra Patel was also present at the event.

The pilot line is designed to manufacture qualifying chips, which are tested by potential clients before ramping up to mass production, expected to reach millions of units per day. The G1 facility will have a peak capacity of 5 lakh chips daily, while the G2 facility, currently under construction, aims for 14.5 million units per day by the end of 2026.

These chips will serve a wide array of products, from home appliances and consumer electronics to automobiles and electric vehicles, highlighting the facility’s role in strengthening India’s tech ecosystem. The project is also expected to create over 5,000 direct and indirect jobs and cater to both domestic and international customers.

Following the announcement, CG Power and Industrial Solutions’ shares rose 3.8% to ₹688.95 on the Bombay Stock Exchange, reflecting positive investor sentiment. Global brokerage Nomura projected a 26.5% upside for the stock, signaling strong confidence in the company’s strategic expansion into the semiconductor sector.

Launched in January 2022, the India Semiconductor Mission seeks to build a self-reliant semiconductor industry, reduce import dependency, and attract global investment. The Sanand pilot line is the first operational facility among 10 ISM-backed projects. Prime Minister Narendra Modi is scheduled to address the IT Ministry’s flagship semiconductor event, Semicon India, on September 2, underscoring government support for the sector.

Vaishnaw described the pilot line as a “critical milestone” in India’s journey toward semiconductor self-sufficiency and noted that Micron’s ATMP (assembly, test, marking, and packaging) facility in Sanand, also supported under ISM, is progressing quickly.

Bengaluru-based stock broking and wealth management platform Groww has received approval from the Securities and Exchange Board of India (SEBI) to go public, setting the stage for an initial public offering (IPO) that could rise to $1 billion, according to sources familiar with the matter. The offering is expected to value the fintech at $7–8 billion, marking a significant milestone in India’s startup and financial services ecosystem.

Groww is expected to file its updated Draft Red Herring Prospectus (DRHP) publicly in the coming weeks. The company had initially filed for an IPO confidentially under SEBI’s pre-filing mechanism on May 26, 2025, taking its first formal step toward a market debut. Earlier reports had indicated that Groww was preparing to file with SEBI while also exploring pre-IPO funding rounds with investors.

Reports mention that Groww is incorporated under Billionbrains Garage Ventures and formally submitted its DRHP with SEBI as part of the regulatory process.

The company plans to list its equity shares, with a face value of Rs 2 each, on both the NSE and BSE mainboards. Specific details regarding the issue size, the fresh issue component, and the offer-for-sale portion have yet to be disclosed. Sources suggest that Groww is likely to adopt a conservative valuation strategy in line with current market conditions, which could imply a 10–15% equity dilution and an IPO size in the range of $700 million to $ 920 million.

Founded in 2016, Groww has emerged as one of India’s leading wealthtech platforms, offering online discount broking, direct mutual fund investments, and a range of other financial products. It competes with players like Zerodha and Upstox, and counts Tiger Global, Peak XV Partners, and Ribbit Capital among its prominent backers.

The development comes amid market volatility, with leading discount brokers Groww and Zerodha together losing approximately 11 lakh active investors in the first half of 2025. Despite this, Groww has maintained robust financial performance, reporting revenue of Rs 4,056 crore and profit after tax of Rs 1,818 crore for FY25, tripling its net profit. year-after-year. Earlier this year, the company raised $200 million at a $7 billion valuation in a funding round led by Singapore’s GIC and Iconiq Capital.

Groww currently holds the largest market share in mutual fund SIP distribution and stock broking in India, with over 12.3 million active clients and a 26% share of NSE trading as of August 2025.

The Reserve Bank of India (RBI) will meet with industry stakeholders in September 2025 to assess the impact of the 50% tariffs recently imposed by the United States on Indian exports. The consultation aims to evaluate sectoral challenges and provide inputs for the upcoming monetary policy committee review. The tariffs affect around 55% of India’s $48 billion in annual shipments to the US, putting exporters at a 30–35% pricing disadvantage compared to competitors such as China, Vietnam, Cambodia, and the Philippines.

Labor-intensive sectors, including textiles and apparel, gems and jewellery, and marine products, are expected to bear the brunt of the levies. The RBI has indicated its readiness to mitigate adverse effects on these sectors and explore measures to cushion the broader economy. Discussions during the meetings are also expected to cover the India-UK Comprehensive Economic and Trade Agreement (CETA), highlighting the central bank’s proactive approach to global trade developments.

Despite the tariff-related challenges, the RBI has maintained India’s growth projection at 6.5% for the fiscal year 2025–26. Its August monetary policy review noted that while inflation expectations have moderated, persistent global trade uncertainties pose downside risks. Domestic industrial activity shows a mixed trend, with mining and electricity remaining subdued, whereas the manufacturing and services sectors continue to display momentum.

The central bank also highlighted a widening merchandise trade deficit of $27.3 billion in July 2025, up from $24.8 billion the previous year, driven primarily by higher oil imports. Equity markets have been affected by weak corporate earnings and tariff-related concerns, prompting foreign portfolio investors to turn net sellers, though inflows from domestic institutional investors have helped buffer the impact.

India’s recent sovereign rating upgrade by S&P, reinforced by steady economic expansion and sound fiscal policies, is expected to enhance investor confidence, lower financing costs, and encourage increased foreign capital inflows. The RBI’s planned consultations with industry players reaffirm its commitment to navigating global trade uncertainties and fostering resilient economic growth.

 Mahindra Aerostructures Pvt Ltd (MASPL), part of the Mahindra Group, has secured a key contract from Airbus Helicopters to manufacture the main fuselage of its H125 single-engine helicopter. Industrialisation will begin immediately at MASPL's facility in Bengaluru, with the first fuselage delivery scheduled for 2027.

This latest deal follows a similar agreement in April 2025, when MASPL was awarded the fuselage manufacturing contract for the Airbus H130 model. Together, these contracts underscore Mahindra's expanding role within Airbus’s global rotorcraft supply chain.

The H125, one of the world’s best-selling single-engine helicopters, is widely deployed across roles such as passenger transport, aerial work, tourism, law enforcement, medical evacuation, and rescue missions. Airbus sees the “Made in India” H125 as a strategic catalyst for growing civil aviation segments within India—including helicopter emergency medical services, disaster response, and aerial operations—and potentially serving the Indian armed forces.

MASPL will carry out industrialisation at its Bengaluru plant, an operation expected to ramp up quickly. The facility is also being expanded to accommodate the new programme, reflecting confidence in India's advanced aerospace manufacturing base.

This move aligns with the broader “Make in India” initiative, which aims to integrate domestic firms into global aerospace value chains. Airbus currently sources components and services worth approximately USD 1.4 billion annually from India. The effort complements Airbus's broader strategy in India, which includes the establishment of two Final Assembly Lines (FALs): one for H125 helicopters and another for C295 military aircraft, both set up in collaboration with Tata Advanced Systems Ltd.

The H125 programme marks a successive milestone after its earlier contract for the H130 fuselage, illustrating a steady deepening of the Mahindra-Airbus partnership.

Airbus India and South Asia President and MD Jürgen Westermeier described the contract as a sign of Airbus’s “confidence in India as a critical hub for global aerospace manufacturing” and pointed to the growing ecosystem of design, assembly, maintenance, and training that these initiatives support. On the Mahindra side, Group CEO and MD Anish Shah welcomed the deal as a reinforcement of the long-term partnership and a demonstration of Mahindra’s role in strengthening the nation’s aerospace ecosystem.

The H125 contract adds significant momentum to India’s aerospace ambitions, bridging domestic manufacturing with global aviation demand while embedding deeper industrial capabilities within the country.

India’s sweeping ban on online money-based games has come under its first legal challenge, with real-money gaming platform A23 moving the Karnataka High Court against the new law. The petition, filed on August 28, argues that the Promotion and Regulation of Online Gaming Act, 2025, which bans all online games involving monetary stakes, violates constitutional guarantees of equality, freedom of trade, and the right to carry out business. The court is scheduled to hear the matter on August 30.

The new law, passed by Parliament on August 21 and signed into effect the following day, criminalises both offering and promoting online money games. It prescribes penalties of up to three years in prison and fines of up to ₹1 crore for companies operating such platforms, as well as fines of ₹50 lakh and two years of imprisonment for advertising them. It also grants law enforcement sweeping powers to block websites, seize funds, and conduct searches without warrants. The move has sent shockwaves through India’s rapidly growing gaming industry, which had previously operated under judicial protections for games of skill such as rummy and fantasy sports.

In its petition, A23, owned by Head Digital Works, contended that the legislation ignores long-standing legal precedent that distinguishes skill-based games from gambling, effectively rendering legitimate businesses illegal. The company argued that the ban amounts to “state paternalism” and claimed it was enacted without adequate consultation with industry stakeholders. According to its filing, the sudden prohibition threatens hundreds of jobs, including over 600 within its own operations, and undermines a sector that had attracted significant foreign and domestic investment in recent years.

India’s online gaming sector has grown rapidly over the past decade, with fantasy sports and rummy platforms reporting millions of active users. Several high court and Supreme Court rulings had upheld that games of skill fall under the protection of Article 19(1)(g) of the Constitution, which guarantees the right to practise a profession or trade. Industry leaders say the new law disregards this judicial distinction by classifying all real-money games—regardless of skill level—under a single category of banned activities.

The government has defended the legislation as a necessary step to curb gaming addiction, financial losses, and related social harms, citing a rise in cases of gambling-related debt and suicides. While some companies, including market leader Dream11, have opted to comply with the ban and shift their business models, A23’s legal challenge signals the start of what could be a protracted battle over the future of online gaming in India.

The Adani Group’s portfolio of listed companies reported a robust Trailing-Twelve-Month (TTM) EBITDA of ₹90,572 crore, up 10 percent year-on-year, while Q1 FY26 EBITDA reached a record ₹23,793 crore, marking a 3.3 percent rise, the conglomerate announced on Thursday (August 28, 2025). The results underscore the group’s continued growth across its energy, infrastructure, and transport businesses, and set the stage for an aggressive capital expenditure plan of ₹1.5-₹1.6 lakh crore in the coming year.

The Adani Portfolio, spanning airports, ports, power generation, transmission, data centers, cement, defense, and roads, has seen strong contributions from incubating businesses such as Adani Enterprises’ (AEL) airport ventures, Adani Green Energy (AGEL), Adani Energy Solutions (AESL), Adani Ports & SEZ (APSEZ), and Ambuja Cements. These high-growth segments more than offset a decline in AEL’s existing business, which faced pressure from lower trade volumes and volatility in Integrated Resource Management (IRM) index prices.

The group maintained one of the lowest leverage ratios globally, with Net Debt to EBITDA at 2.6x, supported by a high liquidity buffer of ₹53,843 crore as of March 31, 2025, representing 19 percent of gross debt. Fund flow from operations reached a record ₹66,527 crore, while the portfolio’s total asset base expanded to ₹6.1 lakh crore, including ₹1.26 lakh crore added in FY25.

Core Infrastructure businesses continue to drive growth, contributing 87 percent to the portfolio’s total EBITDA. AGEL’s operational capacity expanded 45 percent year-on-year to 15,816 MW with additions of 3,763 MW solar, 585 MW wind, and 534 MW hybrid projects. AESL added the WRNES Talegaon transmission project, increasing its under-construction order book to ₹59,304 crore. APSEZ saw cargo volumes grow 11 percent to 121 MMT in Q1 FY26, while passenger movements at Adani airports rose 3 percent to 23.4 million. Ambuja Cements’ capacity is on track to reach 118 MTPA by March 2026 from the current 105 MTPA.

The group is also pushing innovation in clean energy, with India’s first off-grid 5 MW green hydrogen pilot plant commissioned under Anil Ambani-led initiatives. Seven of eight under-construction projects, including the Ganga Expressway, are over 70 percent complete, highlighting the pace of Adani’s infrastructure development.

Looking ahead, the group’s strong liquidity position ensures that all debt obligations can be comfortably serviced over the next 12 months. Sustained EBITDA growth, coupled with continued investments in renewable energy, transport, and core infrastructure, positions the Adani Portfolio for further expansion and long-term resilience.

The combination of robust operational performance, disciplined financial management, and strategic project execution underscores the group’s ability to drive growth across multiple sectors while pursuing ambitious capital expenditure plans, solidifying its position as a leading global infrastructure and energy conglomerate.

The Metropolitan Stock Exchange (MSE) has successfully raised ₹1,000 crore in its second round of capital fundraising, marking a significant step toward revitalizing its operations and enhancing its market infrastructure. The fresh infusion of funds was secured through a private placement involving prominent investors such as Peak XV Venture Partners Investments VII, Trust Investment Advisors, Pharma Ventures International LLP, along with several brokers and investment firms.

This capital raise comes amid intensifying competition in the equity derivatives market. MSE, alongside the National Commodity & Derivatives Exchange (NCDEX), which is currently raising ₹750 crore, is preparing to enter this lucrative segment, aiming to challenge the dominant duopoly of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

In a significant leadership development, MSE shareholders have reappointed Latika Kundu as Managing Director and Chief Executive Officer (MD & CEO) for a three-year term. Kundu, who has successfully steered the exchange through critical phases in the past, will continue to lead strategic initiatives focused on transformation and growth.

The newly raised capital will be deployed to strengthen MSE’s market infrastructure, including the establishment of a dedicated data center to improve trading efficiency. Additionally, the funds will support the exchange’s expansion into new product offerings, notably in equity derivatives.

With these strategic moves, MSE aims to deepen liquidity in the equity cash segment and introduce innovative products and differentiated services, reinforcing its position as a competitive force in India’s financial markets.
 

Tata Consultancy Services (TCS) has signed a landmark lease deal valued at ₹2,130 crore for approximately 1.4 million sq ft of office space at 360 Business Park in Bengaluru’s Electronics City, marking one of the largest single-tenant commercial real estate transactions in India in recent years.

The lease spans 15 years, with TCS committing to a monthly rent of ₹9.31 crore. The leased premises will be spread across Towers 5A and 5B of the SEZ-certified 360 Business Park, developed by Labzone Electronics City Pvt. Ltd. The transaction includes a rent escalation of 12% every three years and a security deposit of ₹112 crore. The effective rental rate works out to ₹66.50 per sq ft per month.

The lease agreement will be executed in two phases. In Phase 1, starting April 1, 2026, TCS will occupy the ground to seventh floors of Tower 5A, totaling around 680,000 square feet. Phase 2, set to begin on August 1, 2026, will extend occupancy to floors 8 to 13 across Towers 5A and 5B, adding approximately 720,000 square feet.

The deal significantly boosts TCS’s footprint in Bengaluru, the city where it houses its largest workforce. It also reinforces the tech giant’s commitment to long-term infrastructure investment amid a rapidly growing demand for IT services.  This lease is part of TCS’s broader real estate expansion strategy, under which it is investing over ₹4,500 crore across cities like Kolkata, Kochi, Hyderabad, Coimbatore, and Visakhapatnam.

The 360 Business Park offers a campus-style IT SEZ with modern amenities, multiple basements, and 13 floors above ground. With TCS as an anchor tenant, the park is expected to become a major employment and commercial hub in the region. This mega lease signals a continued rebound in India’s office leasing sector and solidifies Bengaluru’s status as the country’s premier tech real estate market.

Industry experts see the deal as a strong vote of confidence in Bengaluru’s commercial office market, particularly Electronics City, which continues to attract major occupiers despite limited new supply.