Friday, January 23, 2026
Home Blog Page 24

Mindspace REIT makes ₹2,916-Cr investment in Mumbai–Pune commercial properties

By
BRL Editor
-
0
Ramesh Nair, MD and CEO of Mindspace REIT

Mindspace Business Parks REIT announced that it has purchased three commercial assets located in central business districts of Mumbai and Pune for ₹2,916 crore from K Raheja Corp, thereby expanding its REIT portfolio.

Moreover, Mindspace REIT, which K Raheja Corp sponsors, acquired three properties totalling 8 lakh sq ft across Mumbai and Pune. As of September 30, its commercial portfolio stood at 38.2 million sq ft, and this acquisition will increase it to 39 million sq ft.

The company stated in a regulatory filing that it acquired the three commercial assets for ₹2,916 crore from its sponsor, K Raheja Corp Group, and that these assets are located in Mumbai’s key business hubs—Worli and Bandra-Kurla Complex—and in Pune’s Kalyani Nagar.

Additionally, the Board of the Manager of Mindspace Business Parks REIT approved the acquisition and preferential issue of units totalling up to ₹1,820 crore, subject to unitholders’ and other regulatory approvals, the company confirmed.

Moreover, the assets Mindspace Business Parks REIT acquired include Pramaan Properties Private Limited, which owns approximately 0.45 msf at Ascent–Worli (Mumbai), a premium newly completed commercial tower in Mumbai’s Worli micro-market, along with an office building spanning ~0.1 msf in the Kalyani Nagar micro-market in Pune. It also acquired Sundew Real Estate Pvt Ltd, which holds around 0.2 million sq ft of premium office space at The Square Avenue 98 (BKC Annex), a Grade A office building situated in Mumbai’s financial center, BKC and BKC Annexe.

These acquisitions collectively represent nearly 0.8 million sq ft of premium leasable area, and independent valuers valued them at a Gross Asset Value (GAV) of ₹3,106 crore, the company added. Mindspace REIT’s existing portfolio consists of five integrated business parks and six independent office assets across the Mumbai region, Pune, Hyderabad, and Chennai.

Consequently, these marquee assets strengthen Mindspace REIT’s prime office portfolio, extend its presence in major business districts, and support its long-term strategy of building a resilient, income-generating asset base in India’s most dynamic urban markets. Additionally, they provide embedded mark-to-market potential, strong rental momentum, and clear value-add opportunities across these Grade A+ properties, the company noted.

While speaking about the acquisition, Ramesh Nair, MD and CEO of Mindspace REIT, said, “Bringing these assets into the Mindspace REIT portfolio is a strategic step in strengthening our presence in Mumbai’s most sought-after CBD office districts. These are high-quality, institutional assets, with strong cash flows, and some of the biggest names of Wall Street as anchor tenants. They enhance the scale, stability, and long-term growth of our portfolio. For us, it’s straightforward—invest in great locations, work with great tenants, and create durable value for our unitholders.”

Gravis Robotics raises $23M to accelerate autonomous earthmoving expansion

By
BRL Editor
-
0
Dominic Jud and Ryan Luke Johns, co-founders, Gravis Robotics

Gravis Robotics, a Switzerland-based earthmoving autonomy platform, has secured $23 million in new funding, co-led by IQ Capital and Zacua Ventures, with additional participation from Pear VC, Imad (CVC of Nesma & Partners), Sunna Ventures, Armada Investment, and Holcim. Moreover, the company has announced several new industry partnerships that further solidify its role in transforming global construction.

Founded in late 2022 as a spinout from ETH Zurich, Gravis addresses major structural challenges in the construction sector—including rising demand, declining productivity, and an aging workforce—by enhancing output instead of overhauling existing processes. Additionally, the company leverages its team’s expertise in AI and autonomy to power its retrofit system, which goes beyond simple command-based operation and adapts to real ground conditions through a learning-based control system that “feels the soil” using data from hydraulics, LiDAR, cameras, and GNSS.

Furthermore, this core intelligence connects to Gravis Slate, a tablet interface designed to integrate seamlessly with existing construction workflows. The same sensor suite that enables autonomous operation also enhances manual work, creating a continuous data loop that supports performance improvements and accelerates the growth of autonomous capabilities.

Gravis designs its platform to handle diverse site conditions across trenching, earthworks, grading, and material handling. Consequently, the system complements human teams rather than replacing them, delivering approximately 30 percent gains in output, reducing rework, and improving safety.

Ryan Luke Johns, CEO and co-founder of Gravis Robotics, emphasized that the most effective path to autonomy starts with productivity improvements today:

“By giving operators real-time 3D intelligence and the ability to shift seamlessly between autonomy and augmented control, we cover more of the work, accelerate adoption, and create the data pipeline needed to learn new capabilities from the industry’s hardest jobs.”

In practice, major construction companies already use Gravis systems for site preparation, stockpile management, and loading of trucks and screeners. Most recently, Gravis supported Taylor Woodrow at Manchester Airport in what is described as the UK’s first large-scale use of autonomous excavation on an active construction site.

The company is also partnering with Flannery to offer turnkey excavators equipped with the Gravis Rack, and OEM dealer networks—including Develon in the UK and Kibag in Switzerland—are deploying similar models.

Following this expansion, Gravis Robotics now operates in seven countries across the UK, EU, US, LATAM, and Asia. As a result, the company represents one of the broadest deployments of autonomous excavation technology globally, spanning both mixed-fleet and OEM-integrated equipment, and bringing autonomy directly into the earthmoving equipment rental market.

With its newly secured funding, Gravis Robotics plans to advance its autonomy technology, expand and strengthen industry partnerships, and use existing global distribution channels to support the widespread deployment of autonomous earthmoving solutions.

ELIVAAS launches Energise Soul Retreat in Trimbak, Maharashtra

By
BRL Editor
-
0
Mr. Ritwik Khare, Founder & CEO, ELIVAAS

ELIVAAS, the premier luxury villa management and rental brand, has announced the launch of Energise Soul Retreat by ELIVAAS, a wellness destination in Trimbak, Maharashtra.

Moreover, this strategic launch brings together the retreat’s established spiritual and holistic offerings with ELIVAAS’s expertise in refined luxury hospitality. Through this horizontal integration, both brands combine their complementary strengths to expand market presence, elevate guest experiences, and create a more seamless, enhanced retreat journey.

Additionally, the retreat features 32 well-appointed rooms that can accommodate up to 100 guests, ensuring both comfort and tranquility. Furthermore, Designing Lighting, a prominent American magazine known for highlighting distinguished architectural illumination projects, recognized the property’s remarkable lighting design. Together, the thoughtful accommodations and striking design elevate the retreat’s ambiance, creating an environment that harmonizes aesthetics with meaningful wellness, said a release.

Guests can also immerse themselves in a deep and personal spiritual journey by participating in yoga, meditation, and holistic therapy sessions, or simply embracing the calming rhythm of nature. Moreover, the retreat intentionally promotes mindfulness, balance, and serenity through its thoughtful design.

On this launch, Ritwik Khare, founder & CEO of ELIVAAS, said, “The launch of Energise Soul Retreat marks a significant step in our long-term strategy to expand beyond luxury villa management into curated wellness-led hospitality. With this launch, we are contributing towards strengthening India’s wellness tourism landscape, offering a destination that enables individuals to reconnect with themselves in an environment of balance and purpose. Energize Soul Retreat reflects our shared vision of calm, clarity, and meaningful rejuvenation.”

In addition, Shine Attavar, founder & executive director of Energise Boutique Resorts Pvt Ltd, added, “Energise was created to help people reconnect with themselves, with nature, and with stillness. Every space is intentionally designed to inspire mindfulness—from the Spiritual Sanctuary at the heart of the property to the quiet nooks that invite reflection. Through thoughtful collaboration with ELIVAAS, this philosophy comes to life, ensuring every guest experience is not just restful but deeply transformative.”

Groww infuses ₹104.4-Cr into Fisdom to strengthen wealthtech strategy

By
BRL Editor
-
0
Ishan Bansal, co-founder, Groww

Groww has infused an additional Rs 104.4 crore into Fisdom, its recently acquired wealthtech subsidiary, as the fintech accelerates efforts to diversify beyond its derivatives-heavy brokerage model.

Furthermore, Billionbrains Garage Ventures Ltd., the listed parent of Groww, stated in a stock-exchange filing that it invested the amount through a rights issue in Finwizard Technology Pvt. Ltd., the entity that operates Fisdom. In this process, the company bought 87,384 shares at Rs 11,954.94 apiece, and ownership remained unchanged because Fisdom continues as a wholly owned subsidiary.

Additionally, the filing said the capital infusion was required under the May 16, 2025, Share Purchase Agreement, which obligated Groww to “infuse additional capital to facilitate certain payouts and other working capital requirements.” Meanwhile, Fisdom—which Groww acquired for about Rs 961 crore in October—offers wealth management and distribution services across mutual funds, insurance, PMS, AIFs, and unlisted securities. The unit generated Rs 166.3 crore in revenue last year and remains close to breakeven, although it is still loss-making.

Moreover, the investment reflects Groww’s attempt to shift away from its over-dependence on derivatives brokerage, which contributed 57% of revenue in Q2 FY26, down from 68% a year earlier. SEBI’s regulatory tightening has weighed heavily on F&O trading and has already wiped out nearly Rs 203 crore in revenue for Groww in FY26.

In line with this shift, management said the long-term plan aims to reduce derivatives to less than half of total revenue while wealth management, commodities, and credit scale up. Co-founder of Groww, Ishan Bansal, told analysts during the recent earnings call, “It is beyond 50; definitely it can come below 50.”

Consequently, Fisdom plays a central role in this strategic change by giving Groww deeper access to affluent customers, whose numbers are rising 52% annually and now hold 34% of the platform’s total assets. Finally, the acquisition added about 500 employees, including 180 in sales, and introduced new advisory-led offerings such as a “PMS of mutual funds,” which charges direct fees to customers.

ITC Hotels strengthens premium leisure presence with Storii Akanni launch

By
BRL Editor
-
0
Anil Chadha, managing director, ITC Hotels Limited

ITC Hotels has expanded its premium boutique brand, Storii by ITC Hotels, with the debut of Storii Akanni Naina Tikkar, a 42-room retreat set amid fragrant pine forests with sweeping views of the majestic Churdaar peaks.

Conceived as a secluded getaway that fuses natural beauty, peace, and elevated hospitality, Storii Akanni offers travelers a calm sanctuary shaped with craftsmanship and thoughtful detailing. Additionally, with expansive valley vistas, the property features elegant rooms, alfresco dining spaces, a signature spa, and curated outdoor activities—each designed to redefine the hotel experience as soulful, scenic, and personalized.

Anil Chadha, managing director, ITC Hotels Limited, said, “Storii is a celebration of places with a soul, places that beckon with their beauty, their stories, and their timeless charm. We are delighted to bring our signature hospitality to this breathtaking destination. Storii Akanni Naina Tikkar is thoughtfully planned to reflect the serenity of the mountains and the cultural warmth of the region, offering experiences that are deeply personal, sensorial, and rooted in the soil.”

Alisha Gupta, owner of Storii Akanni Naina Tikkar, added, “Akanni is a dream we have nurtured with passion for four years, and it is a joy to finally open its doors. The name itself means ‘a place that brings joy,’ which reflects its essence. Surrounded by the magnificent landscapes and crisp mountain air, every space has been designed to blend comfort and tranquility. Akanni is more than a hotel; it is the realization of a vision to create something truly special, and we are delighted to share it with the world.”

Guests can enjoy forest walks, open-air picnics, and starlit barbecue experiences. Moreover, the property includes deluxe, superior, and premium rooms and suites, each offering valley-facing views. In addition, guests have access to an outdoor infinity pool, the K by Kaya Kalp Spa, rejuvenating yoga sessions, and a salon for quick self-care.

Dining choices include Cedar Spoon, Pegs & Tales, and a selection of regional dishes crafted using locally sourced produce. Furthermore, located in Majhgaon Shamlati and surrounded by lush landscapes, Storii Akanni Naina Tikkar sits about 90 minutes from Chandigarh airport and is close to Naina Devi Temple, Dagshai, and Menri Monastery—making it ideal for leisure travelers seeking peace, inspiration, and a deeper connection with nature.

Fast fashion startup Newme plans $12 Mn raise at $112 Mn valuation

By
BRL Editor
-
0
L-R: Vinod Naik, Sumit Jasoria, Himanshu Chaudhary & Shivam Tripathi, co-founders, Newme

Women-focused fast fashion brand Newme has begun its Series B funding round by raising Rs 108.66 crore (around $12 million). Existing investors Accel India and Fireside Ventures co-led the round, while new investor Point72 Ventures and others also joined.

Newme previously raised $18 million in a Series A round led by Accel in July last year.

The company’s board approved a special resolution to issue 3,447 Series B CCPS at Rs 3,15,231 per share, enabling it to raise the stated amount, according to its regulatory filing with the Registrar of Companies (RoC).

Accel India and Fireside Ventures will each invest Rs 36.94 crore ($4 million), while Point72 Ventures will contribute Rs 26.38 crore ($3 million). Additionally, AUM Ventures, 2am Ventures, and A. Paul SRC SPV V, LLC will invest the remaining amount.

According to the company’s analysis, Newme’s valuation will rise by 41% to Rs 988 crore ($112 million) from its previous Rs 700 crore valuation at the time of the Series A round.

Moreover, Newme—founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik—focuses on women-centric fast fashion for Gen Z shoppers through both online platforms and offline outlets. Its website notes that the Newme app has crossed 7 million downloads, and the brand currently operates 16 stores in cities such as Bengaluru, Mumbai, New Delhi, Chandigarh, Pune, and Hyderabad.

Startup data platform TheKredible states that Newme has raised over $23 million across two funding rounds, including its seed round in January 2024. After the latest investment, Fireside Ventures will become the largest external shareholder with 19.27%, followed by Accel India at 17.06%, while Point72 Ventures will hold 2.67%. The co-founders will retain a collective 31.45% ownership.

Financially, Newme recorded Rs 48.28 crore in operating revenue for FY24, along with a loss of Rs 35.75 crore. The company has not yet released its FY25 results.

In addition, the fast-fashion sector has seen strong investor interest recently. Quick-fashion delivery startup Slikk raised $10 million led by Nexus, D2C menswear brand Snitch secured $40 million to expand into quick commerce, and Mumbai-based KNOT also closed a funding round.

ASPHL unveils Zone by The Park in New Market, Kolkata

By
BRL Editor
-
0
Vikas Ahluwalia, General Manager and National Head, Zone by The Park Hotels

Apeejay Surrendra Park Hotels Limited has launched Zone by The Park, New Market, Kolkata, offering a stylish urban escape in the centre of the city. With this opening, the Group further expands its footprint in West Bengal, adding to its existing properties—THE Park Kolkata, The Denmark Tavern in Serampore, Zone by The Park near Biswa Bangla Convention Centre, and Zone by The Park Digha.

The hotel sits close to key attractions, including the Indian Museum, Howrah Bridge, Victoria Memorial, and Kolkata’s busy shopping districts. As a result, its central location allows guests easy access to the spirit of the city while still providing a modern place to relax.

Zone by The Park, New Market, features 42 well-designed rooms, the signature all-day dining restaurant Bazaar, which serves global cuisine, and the iconic Flurys in the lobby. The hotel blends comfort and style with lively interiors, smart amenities, and cozy corners that match Kolkata’s vibrant personality. The soon-to-open Townhall event space, which can host up to 100 guests, will be suitable for business meetings and social events.

Speaking about the launch, Vikas Ahluwalia, General Manager and National Head of Zone by The Park Hotels, stated, “We are delighted to launch Zone by The Park in New Market, Kolkata. This marks our second Zone by The Park hotel for price-conscious, design-conscious travellers in the city. It underscores our commitment to expanding our presence in high-demand micro-markets and delivering differentiated experiences that blend social-by-design, connectivity, and collaboration. This hotel will serve as a hub for official meetings, social gatherings, and events in the city. We would also like to thank our partners—Sandhu Group—for developing the hotel and trusting us.”

Inder Pal Singh Sandhu, Director, Sandhu Group, added, “We are delighted with this launch and happy to be forging a bond with one of the oldest hospitality companies in India. By associating with Apeejay Surrendra Park Hotels Limited, we are confident of creating opportunities for growth and value for all the stakeholders.”

Zone by The Park, New Market, Kolkata seamlessly blends location, comfort, and contemporary design, and ultimately, it offers travellers an inviting space to experience the vibrant energy of the city while enjoying a relaxing and modern stay.

LaRiSa Hotels & Resorts strengthens portfolio with debut in Punjab

By
BRL Editor
-
0

LaRiSa Hotels & Resorts has announced the signing of Nabha Haveli by LaRiSa, marking its first hotel in Punjab. This heritage resort, located in the historic town of Nabha near Patiala, highlights the brand’s ongoing growth across North India and confirms its entry into the state.

Nabha Haveli by LaRiSa Hotels & Resorts is a short drive from Patiala and will give guests a nostalgic retreat into Punjab’s royal landscape, known for its history, architecture, and cinematic charm. Filmmakers have long drawn inspiration from the region’s grand palaces, old forts, and shaded roads, and they shot scenes for well-known films such as Jab We Met, Veer-Zaara, and Patiala House in and around this area, highlighting its timeless appeal.

“The signing of Nabha Haveli by LaRiSa marks an important step in our North India and is a significant milestone in our growth story,” said Randhir Narayan, Director, LaRiSa Hotels and Resorts. “As we expand, we remain committed to creating places and crafting stays that capture the true essence of every destination. Punjab’s legendary warm hospitality, combined with our professional management skills, will offer travellers to this heritage resort an exceptional, luxurious stay that immerses them in the region’s heritage. With this addition, the LaRiSa Resorts brand portfolio now stands at ten properties.”

The resort features 20 rooms, arched verandas, carved details, and peaceful courtyards that reflect the elegance of another era. Nabha Haveli by LaRiSa blends this historic charm with LaRiSa’s signature approach to quiet, thoughtful luxury. Guests will be able to enjoy experiences that highlight the region’s traditions, including heritage tours, farm visits, and classic Punjabi cuisine prepared using cherished family recipes.

Patiala, Jind, and Nabha have long showcased their royal buildings and scenic countryside, creating a relaxed yet cinematic beauty. Moreover, Nabha Haveli by LaRiSa Hotels & Resorts honors this heritage and offers visitors a chance to experience Punjab’s living culture, making it the perfect choice for travelers seeking meaningful and immersive stays.

Defence startup Quantum Systems triples valuation to €3 Bn

By
BRL Editor
-
0
Florian Seibel, Co-Founder & Co-CEO, Quantum Systems

Quantum Systems, a German drone manufacturer supported by investor Peter Thiel, has lifted its valuation to €3 billion (US$3.5 billion) after a new funding round. The defence startup aims to expand its production of unmanned aerial systems.

The company secured €180 million from investors such as Balderton Capital, tripling its valuation since May, according to co-chief executive Sven Kruck, who spoke with journalists on Thursday. Quantum Systems builds surveillance drones that Ukraine is using in its war with Russia. The firm’s revenue has risen sharply since Russia’s full-scale invasion in 2022.

The fresh capital will help the company increase manufacturing capacity and support the creation of counter-drone technology, which it expects to begin selling next year, Kruck said.

Quantum Systems joins a growing group of German drone startups—including Helsing and Stark Defence—that actively supply European militaries with modern systems now essential to the conflict in Ukraine. Drone makers in Ukraine are also seeking customers beyond their home country.

Former German army pilot Florian Seibel co-founded the company in 2015, and it now develops dual-use unmanned aerial vehicles with backing from investors such as Thiel, Porsche Automobil Holding SE, and Notion Capital.

 

Meesho to launch IPO on Dec 3; plans ₹4,250-Cr fundraise

By
BRL Editor
-
0
Sanjeev Barnwal & Vidit Aatrey, co-founders, Meesho

SoftBank-backed ecommerce platform Meesho will launch its initial public offering (IPO) on December 3, featuring a fresh issue of shares worth Rs 4,250 crore.

The public issue will close on December 5, and anchor investors will receive their share allocation on December 2, as stated in the red herring prospectus (RHP) filed on Thursday.

Besides the fresh issue, the IPO also includes an offer-for-sale of 10.55 crore shares from existing investors.

The offer-for-sale will involve share sales by early backers such as Elevation, Peak XV, Venture Highway, and Y Combinator, among others.

Meesho plans to use the raised capital for cloud infrastructure, marketing and brand development, and inorganic expansion through acquisitions and other strategic moves. A part of the funds will also go toward general corporate purposes.

The company’s valuation and the final IPO size will be set after the price band is announced on Friday.

In FY25, Meesho enabled over 500,000 transacting sellers and 199 million annual transacting users, handling 1.8 billion orders in total.

Its net merchandise value (NMV) rose 29% year-on-year to Rs 29,988 crore in FY25, after growing 21% in FY24. NMV shows the full checkout value of delivered orders, including taxes. It helps measure platform performance because it captures user adoption and repeat behavior.

For FY25, Meesho reported a net loss of Rs 3,942 crore, mainly due to one-time exceptional costs such as reverse flip tax and perquisite tax, which were part of its shift to a public company structure.

1...232425...456Page 24 of 456

CONNECT WITH US

About Us Career Contact Us Advertise With Us

© Business Review Live | Marcom Media Services International.