Business

Ireda Issues Its First Perpetual Bonds to Raise ₹1,247 Crore

Published

1 year ago

March 20, 2025

The Indian Renewable Energy Development Agency Ltd (IREDA) has initiated its inaugural issuance of perpetual bonds to raise ₹1,247 crore, a strategic decision aimed at strengthening its Tier-I capital, as stated by the state-owned enterprise. The bonds come with an annual coupon rate of 8.40 percent.

According to the announcement, “The issuance of perpetual bonds is intended to bolster IREDA’s Tier-I capital, thereby providing a more robust financial foundation to facilitate the swift growth of India’s green energy infrastructure.”

Pradip Kumar Das, Chairman and Managing Director of IREDA, commented, “Enhancing our capital base through perpetual bonds will allow us to increase financing for renewable energy projects, thereby expediting India’s transition to a cleaner and more sustainable future.”

In a related update, IREDA recently received a ₹24.48 crore tax refund from the Income Tax Department. This refund pertains to partial relief provided by the Commissioner of Income Tax (Appeals) for the assessment year 2011-12 regarding specific disallowances.

Moreover, the agency anticipates an additional refund of around ₹195 crore, related to similar relief granted for assessment years between 2010-11 and 2018-19, which is currently under processing.

Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 day ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

5 days ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

1 week ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.