Mumbai Couple's Rs 11 billion Investment Boosts SpiceJet

22 Dec 2023 CW Team

A Mumbai-based business couple is set to inject a substantial Rs 1,100 crore investment into SpiceJet, providing a noteworthy financial boost for the airline. This strategic move not only strengthens SpiceJet's financial position but also underscores the enduring confidence of investors in India's aviation industry.

The Rs 11 billion investment, spearheaded by the Mumbai business duo, is poised to have a transformative impact on SpiceJet's operational capabilities, facilitating potential expansions and improvements. As the aviation sector continues to recover and adapt to evolving market dynamics, this substantial financial infusion positions SpiceJet favourably in navigating industry challenges.

The move by the Mumbai-based couple reflects a strategic alignment with the long-term growth potential of the aviation sector in India. As SpiceJet receives this significant financial backing, it not only marks a milestone for the airline but also underscores the resilience and attractiveness of the Indian aviation market for substantial investments. The outcome of this infusion is anticipated to contribute to SpiceJet's competitiveness and overall trajectory in the dynamic aviation landscape.

Infrastructure Urban

07 Oct 2025

Paras Defence Subsidiary Wins Rs 460 Mn Anti-Drone Order

Paras Defence and Space Technologies (PDST) saw its shares rise 1.5 per cent to Rs 701 after its subsidiary, Paras Anti-Drone Technologies, secured a defence contract from the Ministry of Defence, Government of India, valued at approximately Rs 460.19 million.The order covers the supply of Anti-Drone Systems, including Drone Jammers, marking a significant milestone for Paras Anti-Drone in India’s growing counter-UAV segment. The contract is scheduled for execution by March 2026. According to official filings, the award is from a domestic entity, not a related party transaction, and no promot..

Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabr..

Hero Future Energies Secures Rs 19.08 Bn for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19,080 million in funding from State Bank of India (lead) and Canara Bank for the development of its 120 MW renewable energy (RE) hybrid project in Kurnool, Andhra Pradesh.The project, contracted with SJVN, integrates wind, solar, and storage technologies to provide reliable peak power. The funding, structured with a 21-year repayment tenure, will support timely project execution and the commencement of commercial operations.This financial closure underscores the banking community’s confidence in ..