Synergy Capital Buys Saurashtra Fuel’s Mundra Plant

07 Oct 2025 CW Team

Sudhir Maheshwari-led Synergy Capital has emerged as one of India’s largest independent producers of low-ash metallurgical coke following its acquisition of Saurashtra Fuel’s flagship plant in Mundra, Gujarat.

The transaction marks Synergy Capital’s first buyout equity deal in India. The acquisition is intended to strengthen raw material security in the metallurgical coke market, which remains structurally undersupplied. The investment manager is expected to invest Rs 12 billion over the next three years to acquire the plant from its promoters, the Agarwalla and Sinha families. Including a proposed power plant, the total project cost is estimated at around Rs 20 billion.

Maheshwari, who previously spent 27 years at ArcelorMittal, played a key role in helping billionaire Lakshmi Mittal list his company in 1997 and raise billions for the $34-billion acquisition of Arcelor in 2006, creating one of the world’s largest steel companies.

Now leading Asia-focused investment firm Synergy Capital from Dubai, Maheshwari is directing renewed attention towards India’s steel sector. The fund maintains a strong strategic focus on India, with a committed investment of around $1 billion in private equity and credit across major groups such as GMR, Shapoorji Pallonji, and JSW Cement, Maheshwari told.

Real Estate

06 Apr 2026

India Real Estate Shifts to Institutional Capital

India’s real estate sector is undergoing a structural transformation, evolving from family-funded models into a globally integrated and institutionalised asset class, as highlighted at EXCELERATE 2026 organised by NAREDCO Maharashtra NextGen in Mumbai.The event saw participation from over 750 delegates, including investors, policymakers and industry leaders, who discussed the sector’s rapid evolution driven by urbanisation, regulatory transparency and innovative financing tools such as REITs and SM REITs.Dr Niranjan Hiranandani emphasised that urbanisation is expected to rise from 35 per c..

Dubai Q1 Property Sales Rise 23.4% in Value

Dubai’s real estate market recorded 47,996 sales transactions worth AED 176.7 billion in Q1 2026, marking a 5.5 per cent year-on-year rise in volume and a 23.4 per cent increase in value. As per a report by fäm Properties, the off-plan segment remained the key driver, accounting for 70 per cent of transaction volume and 71 per cent of total value, underlining the strong momentum of new project launches across the emirate.Data from DXBinteract showed that off-plan sales in March alone reached 10,303 transactions worth AED31.2 billion, up 5.4 per cent in volume and 8.9 per cent in value over ..

Häfele Opens Appliances Studio in Kochi

Häfele has expanded its presence in Kerala with the launch of a new Appliances Studio in Kochi, strengthening access to its premium appliance portfolio in the region. The move is aimed at bringing the brand’s integrated kitchen and appliance solutions closer to customers in the Kochi market. Spread across 2,000 sq ft, the studio is positioned among the largest appliance galleries in Kerala. The space has been designed to offer an immersive customer journey, with a live kitchen setup and functional display zones that present appliances in real-use environments. The studio showcases buil..