SIDBI plans to float a rights issue in FY25

15 Sep 2023 CW Team

The Small Industries Development Bank of India (SIDBI), a vital institution for SME finance, has revealed plans to initiate a rights issue of equity shares in the upcoming financial year. This strategic move aims to bolster its capital base by an impressive ₹10,000 crore, supporting the expansion of its growing balance sheet.

S Ramann, the Chairman and Managing Director of SIDBI, disclosed these intentions during the Global SME Finance Summit 2023. The institution's goal is to augment its asset book, targeting ₹5 trillion by March 2024, a substantial increase from the approximately ₹4 trillion recorded in March 2023.

In the pipeline for FY25, SIDBI envisions another rights issue to infuse additional capital from shareholders. A noteworthy development is that the standing committee of Parliament has recommended a capital infusion of ₹10,000 crore to further bolster lending support for Small and Medium-sized Enterprises (SMEs). As of March 31, 2022, the Government of India held a 20.85 percent stake in SIDBI. Additionally, the State Bank of India maintained a 15.65 percent stake, while the Life Insurance Corporation of India (LIC) held 13.33 percent of the shares as of March 31, 2023. The remaining ownership is distributed among other Public Sector Banks (PSBs) and institutions.

Notably, SIDBI's Capital Adequacy Ratio (CAR) stood at 19.29 percent at the conclusion of FY23, in comparison to 24.28 percent at the end of FY22. This decline in CAR was attributed to effective capital allocation, facilitating the expansion of the bank's portfolio, as outlined in its annual report for FY23.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..