Recent 6 months news in Business

President Droupadi Murmu has approved the merger of REC Ltd (REC) into the Power Finance Corporation Ltd (PFC). The merger aims to create a larger and more efficient public sector power financing institution.

The Competition Commission of India (CCI) has approved the subscription of equity shareholding in Axis Finance Ltd by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF.

The CCI has also approved the acquisition of PGIM India Asset Management Pvt Ltd and PGIM India Trustees Pvt Ltd by TVS Emerald Ltd and TVS Venu Management and Consultancy Services Pvt Ltd.

Sarvam AI, an Indian full-stack sovereign AI startup, has become the 130th unicorn of India. The company raised $234 million as part of its $300 million Series B funding round.

With this, the valuation of the company has reached $1.5 billion, making it the only AI startup in India to achieve this valuation.

Elon Musk, CEO of Space Exploration Technologies Corporation (SpaceX), became the world’s first trillionaire on paper following the Initial Public Offering (IPO) of the company.

SpaceX raised $75 billion through the IPO, surpassing the 2019 Saudi Aramco IPO to become the largest public offering in history.

Platinum Jasmine A 2018 Trust, an investment vehicle backed by the Abu Dhabi Investment Authority (ADIA), has announced plans to reduce its 2.3% stake in Lenskart Solutions Ltd through a block deal.

Nuvama Wealth Management Ltd has received final approval from the SEBI to commence mutual fund (MF) operations. The company will conduct these operations through its asset management arm, Nuvama Asset Management Ltd.

Meta has partnered with Reliance Industries Ltd (RIL) to develop its first large-scale AI-enabled data centre in Jamnagar, Gujarat.

Under the agreement, the former will lease 168 MW of AI-ready data centre capacity from RIL, with operations expected to commence by 2028.

The Competition Commission of India (CCI) has approved the acquisition of a 2.8% stake in Shriram Life Insurance Company Ltd (SLIC) by Sanlam Emerging Markets (Mauritius) Ltd (SEMM) through a preferential issue.

Additionally, the commission has approved the acquisition of a 29.06% stake in PUMA SE by Ancat Holding GmbH, an indirect wholly-owned subsidiary of ANTA, via a secondary share purchase.

The International Finance Corporation (IFC), an arm of the World Bank Group, along with global investors, has committed $105 million to Hygenco Green Energies Pvt Ltd to accelerate green hydrogen development in India.

This marks the first direct green hydrogen investment in India for the IFC, Siemens, and Fullerton. The total funding includes $50 million from the IFC, $25 million from Siemens, and up to $30 million from Fullerton.

American investment firm GQG Partners has sold a 1.85% stake in GMR Airports Ltd (GAL) to Fidelity International Ltd (FIL) through Open Market Operations (OMOs) for ₹1,906 crore.

The Ministry of Corporate Affairs (MCA) has approved the incorporation of Mahindra Manulife Insurance Ltd (MMIL). It is a 50:50 life insurance joint venture between the Mahindra Group (India) and the Manulife Financial Corporation (MFC) (Canada).

The venture aims to provide AI-native and digitally-led insurance solutions across rural, semi-urban, and urban India, aligning with the vision of “Insurance for All”.

Japan-based SoftBank Group has divested a 3.25% stake in Lenskart Solutions through its affiliate SoftBank Vision Fund II (SVF II) Lightbulb (Cayman) Ltd. The transaction was executed through the sale of 5.65 crore shares.

Adani Ports and Special Economic Zone Ltd (APSEZ) has secured a 10-year marine services contract worth $70 million (₹666 crore) for the first Liquefied Natural Gas (LNG) export project in Argentina.

The contract was awarded through competitive bidding to a consortium of Adani Harbour International FZCO and the Argentina-based Meridian Group. The services will be executed by Meridian Transportes Marítimos SA, a joint venture formed with a 51:49 equity split between the partners.

Hindustan Unilever Ltd has inaugurated the Unilever Fragrance Hub (UFH) at the IIT Bombay. This is the third such global facility for the company, after the ones in the UK and the USA.

Tata Consultancy Services (TCS) has signed a multi-million dollar deal with Sweden-based SKF to deploy a next-generation Enterprise Resource Planning (ERP) platform.

The partnership aims to leverage AI across Information Technology (IT) systems and business operations to enhance customer experience and support long-term growth. As part of the agreement, the former will provide end-to-end managed services, including applications, infrastructure, data management, end-user services, security, and connectivity for SKF operations globally.

The Ministry of Corporate Affairs (MCA) has notified the ‘Companies (Corporate Social Responsibility Policy) Amendment Rules, 2026’.

Under this, companies are permitted to channel up to 10% of their annual mandatory Corporate Social Responsibility (CSR) expenditure into Zero Coupon Zero Principal (ZCZP) instruments listed on Social Stock Exchanges (SSEs). Companies must direct the remaining 90% of their CSR spending toward traditional community implementation routes.

The NPO issuing the ZCZPs is responsible for project execution and evaluation, and must complete the funded public welfare project within 3 succeeding financial years from the date of issue.

Tata Consultancy Services (TCS) has become the first Global Systems Integrator (GSI) to partner with the France-based Mistral AI, an AI startup.

The collaboration aims to deliver advanced enterprise generative Artificial Intelligence (GenAI) solutions for clients worldwide. The former will use ‘Mistral Forge’ to develop custom enterprise AI models, allowing clients to integrate their specific data and context for better decision-making.

Zee Entertainment Enterprises has partnered with the Federation Internationale de Football Association (FIFA) to broadcast 39 global football events in the Indian market.

The 8-year agreement includes coverage of major tournaments such as the FIFA World Cup 2026, FIFA World Cup 2030, and the FIFA Women’s World Cup 2027, along with docu-series content.

Bajaj General Insurance Ltd (BGIL) has launched a next-generation health indemnity insurance plan named ‘My Health Care Plan Edge+’ (MHCP EDGE+), offering comprehensive coverage ranging from ₹5 lakh to ₹5 crore.

The MHCP EDGE+ is available for individuals from 3 months of age, featuring a policy tenure of up to 5 years, lifetime renewability, and flexible waiting period options.

The Government of India (GoI) has approved Roorkee-based Skymap Pharmaceuticals Private Ltd as the strategic buyer for the 100% disinvestment of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL).

Established in July 1978, IMPCL is a profitable Central Public Sector Enterprise (CPSE) that manufactures and distributes standardised Ayurvedic and Unani medicines.