Daily filing brief

Aegis Fund-Raise, Godrej Properties Development Agreement and 8 More Updates — 28 September 2026

By Daily BrieferPublished Updated

Aegis Logistics’ board approved a fund-raise of up to Rs 6,000 crore, subject to shareholder approval, while Godrej Properties entered a development agreement for a Marine Lines site. Our 28 September 2026 edition brings together 10 important BSE and NSE announcements, including IRFC’s Rs 4,200 crore term loan for renewable energy projects.

  1. Aegis Logistics Ltd

    Aegis Logistics Board approves Rs 6,000 crore multi-channel fund-raise, subject to shareholder approvals

    Raising of Funds

    Fund-raise plan overview

    • Instruments include equity shares, FCCBs, convertibles, debentures, non-convertible debt, warrants, and other equity-based securities.
    • Issuance through one or more public issues, private placements, rights issues, QIP, or combinations.
    • Aggregate size up to Rs 6,000 crores.
    • Pricing details not disclosed; to be determined per instrument.
    • Board authorized to create charge on assets within the overall borrowing limits.
    • Fund Raising Committee authorized to implement the proposal.
    • Shareholder approval via special resolution required.
    • Regulatory and statutory approvals, as required, will be pursued.
    • Issuance may be denominated in rupees or foreign currencies.
    • Investors include QIBs and other eligible buyers domestically or internationally.
    • Objective is raising funds up to Rs 6,000 crores.
    • Subject to requisite shareholder and regulatory approvals.
    • Creation of charge on assets; instrument-specific covenants to be set.
    • Denominations can be in rupees or foreign currencies across tranches.
    View source

  2. Godrej Properties Ltd

    Godrej Properties enters development agreement for 2.5-acre Marine Lines site with INR 6,000 crore revenue potential

    Press Release / Media Release

    Development details

    • Development agreement for a ~2.5-acre land parcel in Marine Lines, South Mumbai.
    • Luxury housing project planned with estimated revenue potential of ~INR 6,000 crore, basis current assumptions.
    • Marine Lines is a prestigious address with limited land and strong demand for premium residences.
    • Recent premium projects in Worli and Mahalaxmi have seen encouraging response, validating South Mumbai demand.
    View source

  3. Indian Railway Finance Corporation Ltd

    IRFC signs Rs 4,200 crore term loan with DVC for renewable energy projects

    Press Release / Media Release

    Transaction summary

    • IRFC signs Rs 4,200 crore term loan with DVC to fund renewable energy projects in Jharkhand and Bengal.
    • Loan supports DVC's portfolio of floating solar, ground-mounted solar, rooftop solar, and BESS projects.
    • Financing expands IRFC's long-term capability into clean-energy infrastructure linked to the railway ecosystem.
    • Signing occurred in New Delhi with senior IRFC and DVC officials.
    View source

  4. Kalpataru Projects International Ltd

    KPIL secures major LoA for EPC gas pipeline project in UAE valued over ₹4,000 crore

    Award of Order / Receipt of Order

    Order details

    • Customer name not disclosed in the filing.
    • LoA received for EPC of a gas pipeline project in the UAE.
    • Order classification: Major (value over ₹4,000 crore).
    View source

  5. Clean Max Enviro Energy Solutions Limited

    Clean Max Allots INR 2,500 crore Green NCDs; listing planned

    Allotment of Securities

    Allotment Highlights

    • Allotment approved for green NCDs: Series A–E, senior, secured, listed.
    • Total NCDs issued: A 20,000; B 40,000; C 80,700; D 61,500; E 47,800.
    • Aggregate size excluding premium: INR 2,500 crore.
    • New ISIN INE647U07049 replaces old.

    Key Terms

    • Date of allotment: 28 September 2026.
    • Tenors: A 24 months, B 36, C 60, D 120, E 120.
    • Coupon rates: A 8.250%, B 8.485%, C 8.765%, D 8.765%, E 8.765%.
    • Security package includes project assets, SPVs, escrow, and related liens.
    • Listing planned on BSE Wholesale Debt Market.
    • New ISIN INE647U07049 issued for these NCDs.
    • Maturity timelines aligned with respective series' redemption dates.
    View source

  6. Zicom Electronic Security Systems Limited

    NCLT approves Advaita Trading's Rs 17,75,54,841 resolution plan for Zicom with 75.46% CoC support

    Corporate Insolvency Resolution Process

    Plan approval details

    • Resolution Plan approved by NCLT Mumbai Bench under IBC for Zicom.
    • Total plan value: ₹17,75,54,841.
    • CoC approval: 75.46% voting share; e-voting ended 18 February 2026.
    • Upfront payment ₹16.00 crore; Performance Guarantee ₹6.00 crore renewed to 17 Oct 2026.
    • Funding plan: ₹20 crore from MCFLCL; ₹13–₹15 crore from asset sale.
    • NSDC inducted as CoC member; its claim treated as financial creditor.
    • Brand litigation: 50% of recoveries to CD, up to ₹4 crore.
    • If litigation not concluded within 9 months, minimum ₹1 crore paid to financial creditors.
    • Realizable amount under plan: ₹17,75,54,841; Fair Value ₹17,84,53,485.
    • Liquidation Value ₹14,95,76,651.
    • Plan requires payments to CIRP costs and creditors within 30 days of approval.
    • NSDC treatment aligned with financial creditors; total financial outlay ₹16 crore.
    • 90-day CIRP extension granted; NSDC inducted as CoC member on 30 Mar 2026.
    • Bank Guarantee ₹6 crore renewed to 17 Oct 2026.
    View source

  7. Symbiotec Pharmalab Ltd

    Symbiotec Q1 FY27: Revenue INR218 cr; 20-25% FY27 revenue/EBITDA growth; fermentation CDMO and injectables on track; capex >INR1000 cr for new businesses; net debt ~INR326 cr post-IPO

    Earnings Call Transcript

    Financial Performance

    • Consolidated Q1 FY27 revenue: INR218 crores, up 7% YoY.
    • API revenue: INR215 crores, up 6% YoY.
    • API gross margins: 60% plus in Q1 FY27.
    • API EBITDA: INR66 crores, +9% YoY.
    • Consolidated EBITDA: INR45 crores; Net profit: INR14 crores.
    • New-business Opex drag: INR23 crores.
    • New-business depreciation drag: INR11 crores.
    • Q1–Q2 expected lumpy due to new-business drag; H2 aided by milestone cash flows.
    • Some biotech CDMO revenues expected in Q4.
    • Net debt as of 30 Jun 2026: INR398 crores.
    • IPO proceeds net of expenses: INR142 crores.
    • Net debt post-IPO and capex: around INR326 crores.
    • Capex in Q1 FY27: INR68 crores.
    • Cumulative capex on new businesses: >INR1,000 crores.
    • Two new growth facilities: biotech CDMO (400 kL) and Mhow injectable facility.

    Operating / Segment Update

    • API margins remain robust at 60%+; API revenue driven by volume.
    • API customer base: 200+ customers across 40+ countries.
    • FY26 revenue from ~70% of customers (>7 years).
    • Average top-five customer tenure >10 years.
    • Backward integration (make vs buy) supports margins.
    • Biotech CDMO: 5-year take-or-pay insulin; 10-year US alt-protein; 10-year Europe term sheet.
    • Ujjain facility: 400 kL fermentation base for biomanufacturing CDMO.
    • Phase 1 expansion targets 600 KL; Phase 2 planned for higher capacity.
    • Phase 1 to be brownfield expansion; construction 15–18 months.
    • RTU complex injectables platform reduces reconstitution steps and errors.
    • August 2026: term sheet with US pharma for DCV; definitive agreement due early Q3 FY27.
    • Three R&D centers in Indore; 150+ scientists; 3–5% of sales in R&D.

    Balance Sheet and Cash Flow

    • Capex in Q1 FY27: INR68 crores.
    • IPO proceeds net of expenses: INR142 crores.
    • Net debt as of 30 Jun 2026: INR398 crores.
    • Net debt post-IPO: approximately INR326 crores.

    Projects and Capex

    • Capex guidance: INR200–250 crores per year for next 2–3 years.
    • 600 KL Phase 1 expansion; brownfield; 15–18 months to complete.
    • Phase 2 expansion to follow, depending on contracts.
    • Funding mix: internal accruals plus partner capital; take-or-pay contracts; no profit-sharing.
    • Biotech CDMO revenues expected to start in 6–12 months.

    Guidance and Outlook

    • FY27 revenue growth target: 20%; EBITDA growth target: 25%; +/-5% due to global uncertainties.
    • Milestone revenues expected to offset opex in Q3/Q4 (H2 FY27).

    Q&A Highlights

    • Fermentation CDMO capacity: 400 kL now; Phase 1 expansion to 600 KL; Phase 2 planned.
    • Phase 1 expansion to be built in 15–18 months; Phase 0 capacity already booked.
    • Contract pipeline: multiple potential customers; multi-million-dollar opportunities per contract.
    • 600 KL Phase 1 expansion; revenues to start 6–12 months from now.
    • Capex outlook: INR200–250 crores per year for 2–3 years; more if opportunities rise.
    • DCV milestones offset opex; no profit-sharing; take-or-pay arrangements.
    • R&D intensity: historically 3–4% of sales; likely to rise toward 5%.
    • API share remains high; API ~100% now; could drop below 50% in 5–6 years as DCV/CDMO grow.
    View source

  8. Sun Pharmaceutical Industries Ltd

    Sun Pharma and LIB sign exclusive global license for lerodalcibep outside US/China; EU approval secured

    Press Release / Media Release

    Deal highlights

    • Exclusive global license for lerodalcibep outside the US and China.
    • Sun Pharma to commercialize and manufacture Lerodalcibep in licensed territories.
    • LIB receives upfront, milestones and royalties based on net sales.
    • Rights exclude the United States and China; EU label storage updated.
    • EU approval for Lyrokaul obtained Sept 21, 2026; six-month ambient storage.
    • PCSK9 market outside US/China valued US$3.7B; 38% CAGR.
    • EU market size supports future expansion of LDL-C therapies.
    • Sun Pharma to pursue regulatory approvals where not yet obtained.
    View source

  9. NCC Ltd

    NCC Limited secures Rs 1,076.71 crore drinking water supply order from AP Rural Water Dept

    Award of Order / Receipt of Order

    Award details

    • Awarding entity: Rural Water Supply and Sanitation Department, Visakhapatnam, Government of Andhra Pradesh.
    • Nature: Drinking water supply under Multi Village Scheme on Yeleru Reservoir for Anakapalli.
    • Contract value: Rs 1,076.71 crore excluding GST.
    • Entity type: Domestic.
    • Time to execute: Construction – 24 months.
    • Terms: General Conditions of the Contract.
    • Promoter/related party: No promoter group interest.
    View source

  10. Ellenbarrie Industrial Gases Ltd

    Ellenbarrie secures ₹481 crore turnkey ASU contract from BHEL for Odisha coal-to-ammonium nitrate project

    Press Release / Media Release

    Contract details

    • Turnkey contract worth ₹481 crore for design, engineering, supply, erection, testing, commissioning, and training.
    • Scope includes 1200 TPD cryogenic Air Separation Unit for 2000 TPD Coal to Ammonium Nitrate project.
    • Execution over eight quarters with commissioning expected in FY29.
    • Contract on Build and Transfer basis; no long-term ownership or operation.
    • Largest plant Ellenbarrie has built to date, enabling 1000+ TPD capability.
    • Aligns with National Coal Gasification Mission, supporting domestic ammonia, fertiliser and downstream chemicals.
    View source