The listing ceremony at NSE was attended by senior leadership of the SKF India (Industrial), along with Mukund Vasudevan, Managing Director, SKF India (Industrial) Ltd. and President – India, Southeast Asia and Middle East, as well as members of the India leadership team.

“”Today’s listing marks a pivotal step in our 102-year India journey. As an independent, listed Industrial company, SKF India (Industrial) will have the ability to serve Global Industrial customers better, design and manufacture products in line with these industrial customers’ needs, and allocate capital more effectively. India is entering a phase of rapid infrastructure build-out and manufacturing growth. SKF India (Industrial) is well positioned to capture this wave with corresponding investments that reflect our confidence in country’s trajectory.” Mukund Vasudevan said.

The demerger of SKF India into two independent entities—SKF India (Industrial) Ltd. and SKF India Ltd.—was completed pursuant to the Scheme of Arrangement approved by the National Company Law Tribunal (NCLT) in 2025. The Scheme became effective on 1 October 2025, following all statutory and regulatory approvals.

Under the approved structure, the industrial business—comprising bearings, units, condition monitoring solutions, engineering services, and industrial distribution—was transferred into a separate, fully operational entity with its own P&L, governance, and capital allocation framework.

The demerger creates two sector-focused, strategically independent organizations, enabling sharper market orientation, faster decision-making, and enhanced long-term value creation for shareholders.

As a standalone entity, SKF India (Industrial) Ltd. announced a planned capital investment of ₹8,000–9,500 million through 2030, enabling capacity expansion, localisation of high-value components, and accelerated technology deployment across its India operations.

A key element of this roadmap is the establishment of a new manufacturing facility in Pune by 2028, designed to strengthen the company’s industrial supply chain and support rising demand across sectors such as manufacturing, railways, renewables, cement, metals, and heavy engineering.

India continues to anchor SKF’s innovation architecture through the Global Technical Centre in Bengaluru (GTCI), which co-creates solutions for global R&D programs in rotating equipment performance, digital engineering, and AI-enabled industrial applications.

The company plans to deepen its engineering, digital, and software talent base in India as part of its global strategy to accelerate development cycles and deliver locally relevant, globally competitive solutions.

SKF India (Industrial) Ltd.’s localisation and manufacturing expansion plan is designed to build a resilient value chain with faster customer response, shorter lead times, and enhanced supply reliability.

The company is embedding sustainability, precision manufacturing, and digital capabilities across its operations to support sectors integral to India’s economic growth and Southeast Asia’s emerging industrial needs.

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Shri Dinesh Garg is a Fellow Member of the Institute of Company Secretaries of India. With over two decades of professional experience across both public and private sector organizations, Shri Garg has played a pivotal role in driving corporate governance, regulatory compliance, and stakeholder management.

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MOU exchanged between Shri. Arun Manhas, Director, Industries and commerce – Jammu, Shri. Khalid Majeed, Director, Industries and commerce – Kashmir and Shri. Krishnan Iyer, Senior Vice President, National Stock Exchange, on 24th November 2025 at Jammu, in the presence of Shri. Omar Abdullah, Chief Minister of Jammu and Kashmir. As part of the understanding, NSE, with the support of the Government of Jammu and Kashmir, shall conduct awareness drive through seminars, MSME camps, knowledge sessions, road shows, workshops to guide corporates across the state for fund raising on the NSE Emerge platform and handhold companies in the listing process.

Shri. Vikramjit Singh, Secretary, Industries and commerce said “Under the leadership of Honorable Chief Minister of Jammu and Kashmir, Shri Omar Abdullah, we have been striving to provide a conducive ecosystem for the MSMEs of our Union Territory to further grow their businesses and create attractive business model which attracts investment opportunities globally. On 24th November 2025, a step to propel this growth story, we signed a MOU with the National Stock Exchange to encourage MSMEs from the Union Territory of Jammu and Kashmir to tap capital markets via the NSE Emerge platform and raise funds via IPO. NSE Emerge as a platform provides an alternate source of investment raising opportunity for growing SMEs. NSE Emerge platform provides MSMEs to access public capital along with an opportunity for enhanced visibility and credibility. As a part of the MOU, Government of Jammu and Kashmir and NSE shall jointly conduct awareness sessions and campaigns amongst the MSMEs to better understand the process of listing on the stock exchange and its related benefits.”

Shri Sriram Krishnan, Chief Business Development Officer, NSE said: “Government of Jammu and Kashmir and National Stock Exchange have entered in a MoU to collaborate and support the growth of MSMEs via NSE Emerge platform. NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through listing on the stock exchange. We shall organize awareness sessions for MSMEs of Jammu & Kashmir in collaboration with the Government and provide a walk-through of the fund-raising process. We urge the MSMEs in the Union Territory to come forward and avail new source of financing through NSE Emerge.”

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Bengaluru, June 23, 2025: Larsen & Toubro (L&T), India’s premier infrastructure and technology conglomerate, has listed India’s first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India. The company has successfully raised ₹ 500 crore through Non-Convertible Debentures (NCD) at a coupon rate of 6.35% under the Securities and Exchange Board of India’s (SEBI) newly introduced ESG and sustainability-linked bond framework.

The NCDs, having a three-year maturity period, will mature on June 19, 2028, and the interest would be paid on an annual basis. Issued in partnership with HSBC, who served as the sole lead arranger, this landmark transaction adheres strictly to SEBI’s regulatory guidelines introduced on June 5, 2025, aimed at enhancing transparency and accountability among bond issuers. The framework mandates key disclosures, including sustainability objectives, external evaluations such as Second-Party Opinions (SPOs), and continuous post-issuance reporting, with clear Key Performance Indicators (KPIs) to measure ESG impact.

Commenting on the listing, Mr. R. Shankar Raman, President, Whole-time Director & CFO, L&T said, “We are proud to lead India’s transition to sustainable finance through this pioneering ESG bond listing. This initiative underlines our dedication to long-term sustainable development and positions us at the forefront of responsible corporate governance and environmental stewardship. This deal reinforces our commitment to driving L&T’s ESG goals and supporting the larger energy transition objective.”

As part of the sustainability-linked bond agreement, L&T undertakes ambitious environmental commitments, targeting measurable reductions in freshwater withdrawal intensity and greenhouse gas emissions. These goals align with the company’s broader vision of achieving water neutrality by 2035 and carbon neutrality by 2040, supporting India’s national agenda for Net-Zero and climate-resilient growth.

This successful issuance is a significant milestone in India’s financial markets, illustrating growing investor appetite for ESG-compliant financial instruments and setting a benchmark for future sustainable financing ventures.

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Shri Himanshu Nagpal, Chief Development Officer, Varanasi said “We are taking focused efforts to enhance investor awareness and support the growth of SMEs in Varanasi. Today’s interactive workshop, held in collaboration with NSE, aimed to educate investors on the fundamentals of investing and safeguarding against fraud, while also encouraging eligible SMEs to explore capital markets for expansion. Listing on the NSE Emerge platform offers our SMEs the opportunity to gain greater visibility and global credibility. We are committed to guiding them through the fundraising process and helping them realize the long-term benefits of stock exchange listing.”

Shri Manoj Kumar, Executive Director, SEBI said: “At SEBI, we continue to prioritize enhancing transparency, protecting investor interests and promoting investor awareness in the securities market. Initiatives like these are part of our ongoing efforts to build a more informed investor base and foster trust in the capital market ecosystem. We have been actively working with exchanges to take financial education to the grassroot level. These initiatives are already making a measurable impact by empowering investors and encouraging greater participation in the formal financial system. We are also focused on strengthening the SME ecosystem by facilitating better access to public participation. This is possible only by creating awareness around alternative fund-raising avenues for them by accessing the capital markets through Initial Public Offerings (IPOs).”

Shri Sriram Krishnan, Chief Business Development Officer, NSE said: “Our firm commitment to advancing financial literacy, empowering investors, skilling students and raising awareness among MSMEs is at the heart of this initiative. Our collaboration with Varanasi District Administration marks a significant step in extending this vision. Through initiatives such as investor awareness programs, guidance on fundraising via the NSE Emerge platform, we are working to build a well-informed ecosystem for investors and corporates to thrive in today’s evolving financial landscape.”

Following the signing of a Memorandum of Understanding (MoU) between the National Stock Exchange (NSE) and the Varanasi District Administration (VDA) on March 10, 2025, a joint initiative has been launched to enhance financial literacy and facilitate fund raising for MSMEs. As part of this collaboration, NSE, with the support of VDA, will undertake a series of activities aimed at promoting financial awareness and investor education across the region. The partnership also seeks to guide MSMEs in accessing capital through the NSE Emerge platform. The workshop held today marked the first of such initiatives under this MoU.

From April 2024 to March 2025, NSE conducted 14,679 Investor Awareness Programs across all 36 states & Union Territories in 14 languages, reaching more than 8 lakh participants. Also, 619 companies from various sectors are listed on NSE Emerge platform and have collectively raised over INR 17,244 Cr. The total market capitalization of these companies is approximately INR 1,80,000 Cr.

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This collaboration seeks to empower and elevate emerging entrepreneurs, small business owners, and professionals by delivering cutting-edge training programs and certifications designed to bolster their digital and financial strategy, business and management acumen, and entrepreneurial skills. The goal is to create a robust support system that not only facilitates individual growth but also contributes to the overall vitality of the micro, small, and medium enterprises (MSME) sector.

By combining NSE Academy’s training expertise in financial and allied technology domains with ni-msme’s experience in entrepreneurship development, this partnership seeks to deliver impactful learning for the MSME sector through both residential and non-residential comprehensive training bootcamps focused on financial management, marketing, business planning, and operational efficiency. The objective is to establish a strong support network that fosters individual development while simultaneously enhancing the overall health of the micro, small, and medium enterprises (MSME) sector.

Speaking on the occasion, ni-msme, Director General Dr. Sunchu Glory Swarupa, said: “This partnership with NSE Academy aligns perfectly with our mission to strengthen the MSME sector. By combining our experience in entrepreneurship development with NSE Academy’s expertise in financial and digital training, we will be able to deliver impactful learning experiences that address the evolving needs of MSMEs. This initiative will contribute significantly to the growth and sustainability of businesses across the nation.”

Speaking on the occasion, NSE Academy Ltd. CEO Mr. Abhilash Misra said: “Our partnership with ni-msme marks a significant step towards empowering India’s MSME sector, which is the backbone of our economy. By providing focused skill development and financial education programs, we aim to drive entrepreneurship and create opportunities for growth and success.”

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After three years of strong growth, capital spending by states is expected to moderate in FY25, growing by a modest 6.5% to Rs 6.5 lakh crore, down from a strong 39.3% growth in FY24RE. The capital-to-revenue expenditure ratio, a measure of expenditure quality, is set at 20.7% for FY25BE, declining from 21.2% in FY24RE. Punjab has the lowest ratio at 6.2%, while Gujarat leads at 36.2%. Revenue expenditure is also budgeted to increase by a four-year low of 8.9% to Rs 44.2 lakh crore. Committed expenditure (interest payments and pensions), on the other hand, remains high, comprising about 24% of total revenue expenditure and consuming nearly a quarter of revenue receipts. Punjab, Kerala, Himachal Pradesh, and Tamil Nadu have allocated over 35% of their revenue receipts to committed expenditure in FY25.

The overall fiscal deficit of these 21 states is pegged at Rs 10 lakh crore or 3.2% of their GSDP in FY25BE vs. 3.5% in FY24RE, above the recommended 3.0% by the 15th Finance Commission. Eight of these 21 states have budgeted for a sub-3% fisc, led by Jharkhand (2%), Gujarat (2.5%) and Maharashtra (2.6%). Nearly 79% of this deficit is expected to be funded through market loans, with gross borrowings rising by 7% to Rs 10.8 lakh crore. States’ reliance on market loans has dropped in the recent years, thanks to higher loans from the Centre. Outstanding liabilities to GDP ratio at 29% in FY22 for our sample states may rise to ~33% after accounting for contingent liabilities (states’ guarantees to SPSEs). In our sample, UP accounts for over 19% of the overall contingent liabilities, followed by Telangana at 15% and Andhra Pradesh at 13%.

With states contributing only 30% of total tax revenues but accounting for over 60% of total general government expenditure, improving their financial positions has become increasingly critical. Our analysis highlights the need for a clear fiscal consolidation roadmap for fiscally strained states, a gradual reduction in contingent liabilities to enhance transparency, improved fiscal credibility, and risk-based pricing for State Development Loans (SDLs). These measures are essential for the long-term fiscal health of states, ensuring they are adequately equipped to address exigencies and emerging priorities in an ever-changing landscape.

The post State Budget Analysis by National Stock Exchange (NSE): Capex pace moderates in FY25BE appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.