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PFC withdraws Rs 20 billion zero-coupon bond issue

Power Finance Corporation Limited (PFC) has withdrawn its proposed zero-coupon bond issuance of up to Rs 20 billion due to weak investor demand and higher-than-expected yield quotes. The issuance was structured with a base size of Rs 5 billion and a green shoe option of Rs 15 billion. It received bids worth Rs 14.7 billion from 28 applications, with yields ranging between 6.20 per cent and 7.02 per cent. However, PFC decided not to proceed,…

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CCI approves Havells’ investment in Goldi Solar

The Competition Commission of India (CCI) has approved Havells India Limited’s proposal to acquire a minority equity stake in Goldi Solar Private Limited and full partnership interests in Vama Inverters LLP and Goldi Energy LLP. Havells will acquire less than 10 per cent of Goldi Solar’s issued and paid-up equity share capital. Concurrently, Goldi Sun Private Limited will acquire 100 per cent partnership stakes in both Vama Inverters LLP and Goldi Energy LLP. In April…

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KP Green bags orders across solar, transmission, railways

KP Green Engineering Limited has secured new orders worth Rs 972.7 million from multiple clients across five business segments. The company expects to complete all projects by March 31, 2026. The largest order, worth Rs 478.3 million, is for crash barriers used in railway track fencing and related works. Solar-related orders include Rs 375.6 million for fixed tilt and tracker-type solar module mounting structures and Rs 44.4 million for rooftop solar projects. In the transmission…

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Sugs Lloyd wins T&D contracts in Bihar and Odisha

Sugs Lloyd Ltd has secured power transmission and distribution (T&D) contracts worth Rs 74.35 crore across Bihar and Odisha. In Bihar, the company received two key projects from North Bihar Power Distribution Company Limited (NBPDCL). The main contract covers turnkey development of five new 33/11 kV substations with associated transmission lines in Kishanganj district. This project aims to improve power reliability for thousands of consumers. A separate contract involves the construction of 33 kV lines…

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L&T secures civil works contract for 1,500 MW Bhavali pumped storage project

Larsen & Toubro Limited (L&T) has won a contract from JSW Energy Limited (JSWEL) for civil works of the 1,500 MW Bhavali Pumped Storage Project (PSP). The contract was awarded on June 9, 2025. The scope includes full civil execution—construction of approach roads, upper and lower reservoirs, water conductor system (WCS), pressure tunnels, and an underground powerhouse. The Bhavali PSP will be located across the Nashik and Thane districts in Maharashtra. The project is designed…