Author: Staff Writer

Adani Green Energy Limited (AGEL) has announced the operationalisation of 112.5 megawatts (MW) of renewable energy projects at Khavda, Gujarat, bringing its total operational capacity to 16,598.6 MW.

The new capacity comprises an 87.5 MW solar project and a 25 MW hybrid project, both commissioned through AGEL’s step-down subsidiaries: Adani Renewable Energy Fifty Six Limited and Adani Green Energy Twenty Five B Limited, respectively.

The power generation from these plants commenced on September 30, 2025, following the necessary clearances. The addition at Khavda, a region known for hosting some of India’s largest renewable energy sites, marks another milestone in AGEL’s expansion roadmap.

This development aligns with AGEL’s broader strategy to increase its clean energy portfolio. The company has previously announced plans to invest ₹31,000 crore (approximately $3.64 billion) in fiscal year 2026 to add 5 gigawatts (GW) of clean energy capacity, aiming for a total of 50 GW by 2030. This expansion is part of India’s broader renewable energy goals and reflects AGEL’s commitment to contributing significantly to the nation’s clean energy capacity.

The announcement of the new operational capacity has positively impacted AGEL’s stock performance. On October 1, 2025, the company’s shares rose nearly 4%, reflecting investor confidence in the company’s growth prospects and the successful commissioning of these new projects.

As AGEL continues to expand its renewable energy footprint, the company remains focused on its long-term vision of sustainable growth and contributing to India’s renewable energy targets. The successful operationalisation of these projects underscores AGEL’s role as a key player in the nation’s transition to a more sustainable energy future.

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Abu Dhabi-based International Holding Company (IHC) will acquire a 41.2% controlling stake in Sammaan Capital, the Indian housing finance company formerly known as Indiabulls Housing Finance, for $1 billion (₹8,850 crore).

The deal will make IHC the company’s promoter, giving it the right to appoint a majority of the board of directors.

The acquisition will be carried out through IHC’s affiliate, Avenir Investment RSC Ltd., via a preferential allotment. Under the arrangement, IHC will subscribe to 330 million equity shares and 306.7 million convertible warrants of Sammaan Capital at ₹139 each. The transaction is subject to approvals from the Reserve Bank of India and the Competition Commission of India. Additionally, it will trigger a mandatory open offer to acquire up to 26% of the company’s shares from existing shareholders.

Sammaan Capital, listed on the Bombay Stock Exchange and the National Stock Exchange of India, is one of the country’s largest non-banking financial companies (NBFCs) with a focus on mortgage lending. The company operates over 220 branches in more than 150 towns and cities and employs over 4,400 people. Over the past 25 years, Sammaan Capital has disbursed home loans worth over $19 billion to more than 680,000 families and provided mortgage-backed loans exceeding $9.5 billion to over 100,000 small businesses.

Gagan Banga, Vice-Chairman and Managing Director of Sammaan Capital, said the investment by IHC will help the company expand into a full-service financial institution and strengthen its ability to serve India’s aspiring middle-class and underserved segments. He noted that partnering with a global player like IHC would bring additional resources and credibility to the company.

IHC, owned by the Abu Dhabi ruling family, has rapidly grown into one of the region’s largest holding companies, with investments across finance, healthcare, real estate, and manufacturing. The acquisition of Sammaan Capital is part of the company’s strategy to diversify into emerging markets and strengthen its financial services portfolio. Syed Basar Shueb, CEO of IHC, said the investment reflects confidence in India’s long-term economic growth and the potential of its financial sector. He also highlighted plans to leverage technology and artificial intelligence to enhance lending and credit solutions at Sammaan Capital.

Market analysts say the deal marks the largest foreign investment in India’s NBFC sector in recent years and could pave the way for more cross-border transactions in financial services. The deal is also expected to increase access to capital for underserved populations and expand the company’s lending capacity in India’s growing housing finance market.

The regulatory process for the acquisition is underway, and the transaction is expected to close in the coming months. Once completed, IHC will assume control of the company’s operations, setting the stage for strategic expansion and diversification.

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Air India has inaugurated its inaugural non-stop flight between India and the Philippines, enhancing connectivity between the two nations. The inaugural flight departed from Delhi’s Indira Gandhi International Airport on October 1, 2025, marking a significant milestone in bilateral air travel.

The launch ceremony was attended by H.E. Josel F. Ignacio, Ambassador of the Philippines to India, and Maria Cynthia P. Pelayo, Minister and Consul General, Embassy of the Philippines in India, alongside senior officials from Air India.

The new service offers direct connectivity between Delhi and Manila, operating five days a week—Monday, Wednesday, Friday, Saturday, and Sunday. Flight AI2362 departs Delhi at 13:20 local time and arrives in Manila at 22:40, while the return flight, AI2361, departs Manila at 23:40 and arrives in Delhi at 03:50 the following day.

Air India’s Delhi-Manila flights are operated using Airbus A321LR aircraft, featuring a three-class cabin configuration that includes Business Class, Premium Economy, and Economy Class. The airline is among the few in Southeast Asia to offer fully flat beds in Business Class on a single-aisle aircraft.

This new route strengthens Air India’s presence in Southeast Asia, expanding its network to eight destinations across seven countries in the region. It also provides Filipino travelers with convenient connections to Air India’s extensive network across Europe and North America via Delhi.

The launch of the non-stop Delhi-Manila flight is expected to boost tourism, trade, and cultural exchanges between India and the Philippines, offering travelers greater convenience and enhanced connectivity between the two countries.

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Tata Consultancy Services (TCS), India’s largest IT services company, has rolled out severance packages of up to two years’ salary as part of a sweeping workforce restructuring, according to media reports.

The exercise is aimed at streamlining operations and realigning talent with evolving business priorities. Severance pay will vary by tenure: six months’ salary for shorter stints, around 1.5 years’ pay for employees with 10–15 years of service, and up to two years’ salary for those with over 15 years at the company. All affected employees are assured a minimum of three months’ notice pay.

However, staff who have remained “on the bench,” or unassigned, for more than eight months may receive only standard notice pay without additional benefits.

Beyond financial compensation, TCS has also rolled out outplacement services, mental health support under its “TCS Cares” initiative, and voluntary early retirement options with full benefits.

CEO K Krithivasan described the decision as “one of the toughest” in the company’s history, noting that mid- and senior-level employees have been most impacted. The bulk of role adjustments were carried out in August and September, with a few cases still under review.

For many employees, the packages bring both certainty and closure in a period of change. For TCS, the move represents a difficult balancing act involving letting go of long-serving staff while trying to safeguard the company’s future.

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India is swiftly heading for a blockbuster IPO season in late 2025, with companies expected to raise nearly $8 billion in the final quarter alone. At the forefront is LG Electronics, which has revived plans to list its Indian arm by selling a 15% stake. The offering could fetch up to ₹116 billion, which is around $1.3 billion, valuing the unit at approximately ₹774 billion, which is close to $8.7 billion.

LG’s public listing aligns with a wider strategy to cement India’s place as a global manufacturing hub. Alongside the IPO, the company is investing $600 million in a new factory at Sri City, Andhra Pradesh, its third in the country, to boost production for both local demand and exports, particularly targeting European markets.

The upcoming IPO wave extends beyond LG. Heavyweights like Tata Capital are also preparing to tap the markets, with individual issues expected to range between $600 million and $1.8 billion. Strong participation from retail and institutional investors, coupled with buoyant valuations and government-backed policies, is fueling this fundraising rush.

So far in 2025, more than 240 companies have collectively raised $10.5 billion, making India one of the top three destinations globally for IPO proceeds. With the latest surge, the country’s capital markets are reflecting firm investor confidence and a growing role in global finance and manufacturing.

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The lawsuits, filed in 2021, allege that the companies facilitated access to gambling apps that were addictive and harmful to users.

Apple, Google, and Meta Platforms are facing lawsuits in the United States over their roles in hosting and promoting gambling applications on their platforms. The lawsuits allege that these tech companies have facilitated access to illegal gambling services, leading to financial harm for users.

The cases are currently under legal review, with discussions focusing on the extent of the companies’ responsibilities and potential liabilities in relation to the content available through their app stores and platforms.

A federal judge in San Jose, California, has ruled that the lawsuits against Apple, Google, and Meta can proceed. The plaintiffs claim that the companies promoted illegal gambling by hosting and accepting commissions from casino-style apps that allegedly led to user addiction. The tech giants had argued for immunity under Section 230 of the Communications Decency Act, which protects online platforms from liability over third-party content. However, the judge rejected this defense, stating that the companies’ role in processing payments and collecting commissions made them potentially liable.

The lawsuits, filed in 2021, allege that the companies facilitated access to gambling apps that were addictive and harmful to users. The plaintiffs claim that the companies participated in a racketeering scheme by brokering transactions and taking up to 30% in commissions, totaling an estimated $2 billion. While some claims were dismissed, most consumer protection claims (outside of California) were allowed to proceed. The judge permitted an immediate appeal due to the significance of the Section 230 interpretation.

The cases are being litigated in the U.S. District Court for the Northern District of California. The outcome of these lawsuits could have significant implications for the tech industry, particularly regarding the extent of platform responsibility for third-party content and activities conducted through their services.

As of now, Apple, Google, and Meta have not publicly commented on the ruling. The legal proceedings are ongoing, and further developments are anticipated as the cases progress through the courts.

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