IOC to set up unit in GIFT City to raise capital

03 Oct 2022 CW Team

Indian Oil Corporation (IOC) announced the formation of a new firm in GIFT City, Gandhinagar, to carry out finance activities such as worldwide treasury services.

According to a stock exchange filing, IOC's board of directors has approved the incorporation of a wholly-owned subsidiary and the establishment of an office in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (Gift City) in Gandhinagar.

The IOC board authorised the proposal for the establishment of a finance firm called 'IOC Global Capital Management IFSC' in order to take advantage of the economic prospects and fiscal benefits afforded by the GIFT City-IFSC.

The unit will conduct financial activities such as fund pooling of foreign corporations and using the same for trade financing of IOC and group enterprises.

Also Read
Manipur CM inaugurates developmental projects in Henglep
IL&FS obtains NCLT clearance to sell its headquarters to Brookfield

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..