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Corporate News - June 2025
ECONOMY
Sitharaman asks banks to step up lending as interest rates fall 
Finance Minister, Nirmala Sitharaman has asked public sector banks to step up lending after Reserve Bank of India cut key policy rates early this month and contribute to the growth of the economy. The RBI cut its key repo rate by a larger-than-expected 50 basis points, as muted inflation gave policymakers room to prioritise growth amid global economic uncertainty. The finance minister also urged banks to boost lending to micro, small and medium enterprises, improve deposit mobilisation, while also instructing financial institutions to scale up efforts under key financial inclusion schemes, including PM MUDRA Yojana, PM Vishwakarma, PM Surya Ghar Muft Bijli Yojana, PM Vidyalaxmi, and the Kisan Credit Card (KCC) scheme. Sitharaman chaired a high-level meeting in Delhi to review the performance of Public Sector Banks (PSBs) on financial parameters, credit offtake, financial inclusion, customer service, grievance redressal, digital banking, and cybersecurity.
INDIA PARTNERSHIPS
Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Swissmem- Switzerland's leading mechanical and electrical engineering industries association have formalised a threeyear partnership agreement aimed at strengthening business cooperation between the two nations. The Memorandum of Understanding (MoU) was signed at the Swissmem Industry Day in Bern. It establishes a comprehensive framework for enhanced trade relations, technology transfer, and investment opportunities between Indian and Swiss companies. Commerce Minister Piyush Goyal has completed his two-day visit to Switzerland, and his next trip is to Sweden. The agreement enables both chambers to exchange crucial market intelligence, including information on trade opportunities, investment prospects, economic policies, and foreign trade legislation affecting both countries.
TECHNOLOGY
Ministries brief House panel on AI readiness
The Parliamentary Standing Committee has been keen to understand how different arms of the government are approaching AI, how it is being used, what safeguards are in place, and what are the plans are for the future. Senior officials from the Ministries of Home Affairs, Defence, Power, and Electronics and Information Technology (MeitY) briefed the Parliamentary Standing Committee on Communications and IT, outlining their preparedness around the rapid emergence of artificial intelligence (AI). While MeitY has made presentations to the committee in the past on India AI Mission and broader developments in the sector, this was one of the first sessions where the home, defence, and power ministries were specifically asked to explain their AI strategies. These included measures being taken by the government to prevent AI-led harms, the people. The meeting saw ministries detail how they were adopting AI to improve internal functioning while also flagging growing risks such as cybersecurity threats, deepfakes, and the misuse of social media.
New Research Reveals Tariffs and AI Pressure Is Reshaping India's CSuite Agenda whilst Creating Burnout Concerns
Icertis, the global leader in AI-powered contract intelligence, published a new survey based on responses from more than 1,000 C-suite executives, including 300 Indian business leaders. The survey found that performance demands on the C-suite have never been higher amidst tariff uncertainties and pressure to keep pace with new AI technology. Macroeconomic factors are increasingly impacting executives, with 94% of Indian C-suite leaders confirming pressure to deliver business results has increased over the past year, and 92% reporting it is harder to make the right business decisions today compared to last year. Results show that India's executives are feeling pressures more acutely than their global counterparts, with 73% saying that pressure has 'increased significantly' compared to 61% (US) and 57% (UK).
MERGERS AND ACQUISITION
Torrent Pharma to acquire controlling stake in JB Chemicals & Pharmaceuticals from KKR for C19,480 crore 
Torrent Pharmaceuticals announced the acquisition of a controlling stake in JB Chemicals & Pharmaceuticals from KKR for a purchase price of up to C19,480 crore, translating into an equity valuation of C25,689 crore. The acquisition will be followed by a merger of JB Chemicals with Torrent Pharmaceuticals. The Ahmedabad-based flagship company of the Torrent Group stated that the transaction will be executed in two phases. The acquisition of 46.39 per cent equity stake (on a fully diluted basis) through a Share Purchase Agreement at a consideration of C11,917 crore (C1,600 per share) followed by a mandatory open offer to acquire up to 26 percent of JB Pharma shares from public shareholders at an open offer price of C1,639.18 per share, the company stated in an official release. In addition to the above, Torrent has also expressed its intent to acquire up to 2.80 per cent of equity shares from certain employees of JB Pharma at the same price per share as KKR. The open offer price is higher than the purchase price from KKR and the employees of JB Pharmaceuticals. KKR has made five times return on its investment in JB Pharmaceuticals with an internal rate of return of 36 per cent.
ITC completes acquisition of Sresta Natural Bioproducts, owner of 24 Mantra Organic brand 
Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts, which owns the '24 Mantra Organic brand' in an all-cash deal valued at C472.50 crore. This will help ITC expand its play in the fast-growing organic food products segment. “The company completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025,” ITC said in a regulatory filing. On the acquisition cost, ITC had an upfront consideration of C400 crore on a cash-free debt-free basis, and in addition, consideration of up to C72.50 crore, which is payable in the next 24 months. In April, ITC signed a share purchase agreement with Sresta Natural Bioproducts Pvt Ltd (SNBPL) to acquire 100 per cent stake in the company.
ESG
L&T lists India's 1st ESG bonds on NSE, raises Rs. 500 crore 
Engineering and construction conglomerate, Larsen & Toubro (L&T) announced the listing of the country's first Environmental, Social and Governance bonds on the NSE, raising Rs. 500 crore through debentures. In a filing to BSE, the company said it "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 debentures will mature over a period of three years, with annual interest payments. HSBC served as the sole lead arranger for the transaction. The bonds, issued under SEBI's newly introduced ESG and sustainability-linked bond framework, were launched on June 5. "This deal reinforces our commitment to driving L&T's ESG goals and supporting the larger energy transition objective," said Mr. R Shankar Raman, President, Whole-Time Director and CFO of the company.
IFSCA unveils framework for ESG-linked transition bonds at GIFT City 
The International Financial Services Centres Authority has issued a framework that will enable companies that face difficulty in reducing carbon emissions to raise funds at Gift City through Environment, Social and Governance (ESG)-linked bond. The unified regulator issued a framework for issuance and listing of the so-called transitions bonds. The said framework will enable the issuers, specifically from hard-to-abate sectors, to raise capital and list their securities at GIFT IFSCA, while committing to a credible transition plan and making enhanced disclosures to ensure the interests of the investors are protected.
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