India has become the world’s third largest fuel retail market after its network of petrol pumps crossed the 100,000 outlet mark, nearly doubling over the past decade. The rapid expansion has been driven largely by state-owned oil marketing companies (OMCs) aiming to meet rising vehicle demand and extend fuel access to semi-urban and rural regions. With this milestone, India now trails only the United States and China, both of which operate around 110,000–120,000 fuel stations despite having significantly larger land areas. The growth reflects India’s expanding vehicle population and improving road connectivity, particularly outside major cities. However, private players continue…
Author: Adarsh Kumar
State-owned infrastructure lender Indian Railway Finance Corporation (IRFC) has entered into a refinancing agreement with the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) to refinance ₹10,000 crore worth of foreign currency loans availed from the World Bank for India’s flagship freight rail infrastructure programme. DFCCIL, the special purpose vehicle responsible for developing dedicated rail freight corridors, had originally raised the loans to fund the ₹51,000 crore Eastern Dedicated Freight Corridor (EDFC) project. The corridor spans 1,337 kilometres, running from Punjab to Bihar, and connects some of the country’s most critical cargo hubs handling coal, steel, cement and other industrial…
Direct-to-consumer skincare brand Foxtale continued its rapid growth trajectory in FY25, with revenue from operations nearly touching ₹200 crore, even as higher marketing and scaling costs pushed losses deeper into the red. According to financial statements filed with the Registrar of Companies (RoC), the Mumbai based startup reported operating revenue of ₹199 crore in FY25, a 2.4x jump from ₹83 crore in FY24. Founded in 2021 by Romita Mazumdar, Foxtale focuses on affordable skincare products tailored for Indian skin concerns such as acne, ageing and hyperpigmentation. Sales of skincare and beauty products remained the company’s sole revenue stream during the…
SBI Mutual Fund has further reduced its exposure to listed logistics firm Delhivery, selling 18.18 lakh equity shares in an open market transaction on December 22, according to disclosures made under SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) regulations. Following the transaction, the fund house’s stake in Delhivery declined from 5.93% to 5.69%, marking a 0.24 percentage point reduction in its shareholding. Based on Delhivery’s closing price of ₹409.20 on the BSE on the day of the sale, the transaction is estimated to be valued at approximately ₹74.45 crore. After the sale, SBI Mutual Fund holds nearly 4.25 crore…
PRISM, the parent company of hospitality major OYO, has received approval from its shareholders to raise up to ₹6,650 crore through an initial public offering (IPO), marking a key milestone in the company’s public market journey. According to regulatory filings, the proposed IPO will include a fresh issue of equity shares aggregating up to ₹6,650 crore. The capital raised will strengthen the company’s balance sheet and support long-term growth initiatives. Ahead of the IPO, PRISM has also approved a bonus share issue, under which existing shareholders will receive one bonus equity share for every 19 shares held. The bonus shares…
The Delhi High Court on Wednesday sharply criticised the Central government for what it described as inadequate action to address the capital’s worsening air pollution and suggested an immediate reduction in the goods and services tax (GST) on air purifiers, currently levied at 18%. A Division Bench comprising Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela observed that if authorities are unable to ensure clean air for citizens, the minimum relief they can offer is to make air purifiers more affordable. The court said a temporary GST exemption or reduction, even for a limited period, should be considered…
Cravyon is not just a stationery distribution network. It is the outcome of lived experience, deep market observation, and a clearly identified gap in India’s traditional supply chain. Operated by Bhavana Agency, Cravyon connects retailers and schools across Maharashtra with trusted stationery brands such as Apsara, Natraj, Camlin, Flair, and Goldex. In just nine months, the network scaled to an ₹8 crore business, built entirely on structure and consistency. Where the Idea Took Shape The idea behind Cravyon emerged from years of struggle faced by the founders’ parents while operating in the distribution space. Frequent stock shortages, delayed deliveries, and…
Indian online stockbroking platform Groww has launched Groww Lite, a web-based emergency trading portal aimed at helping users protect their positions during platform outages, internet disruptions, or technical glitches. The move is designed to offer traders a critical fallback option during volatile market hours when access to the primary trading app or website may be disrupted. According to the company, Groww Lite enables users to square off or exit existing open positions even if the main Groww platform becomes temporarily inaccessible. The portal acts as a fail safe trading channel, allowing users to manage risk during unexpected system failures. Built…
Bengaluru-based CoreEL Technologies, a provider of advanced electronic systems and sub systems for the aerospace and defence sector, has raised $30 million in a Series B funding round led by ValueQuest Scale Fund, with participation from existing investor 360 ONE Asset. The funding comes shortly after CoreEL’s acquisition of the aerospace and defence systems division of Lekha Wireless, a move that has significantly expanded its communications systems portfolio. The acquisition added proven wireless communication technologies, indigenous intellectual property, and specialised engineering talent, strengthening CoreEL’s capabilities in the military communications (MILCOM) segment. Focus on Manufacturing, R&D and Large Defence Programmes According…
The Reserve Bank of India (RBI) on Tuesday unveiled a fresh set of liquidity measures, announcing plans to inject nearly ₹3 trillion into the banking system through a combination of open market operations (OMOs) and a foreign exchange buy-sell swap. The move is aimed at easing tightening liquidity conditions and ensuring orderly functioning of financial markets. In an official release, the central bank said it will purchase Government of India securities worth ₹2 trillion via OMOs, spread across four tranches of ₹50,000 crore each. These auctions are scheduled for December 29, January 5, January 12 and January 22. Additionally, the…