The Board of Directors of Bangalore-based Brigade Enterprises has approved a plan to raise approximately 1500 crore Indian rupees through the private placement of unsecured debt instruments (NCDs) in one or more tranches.
The Board of Directors of Bangalore-based Brigade Enterprises has approved a plan to raise approximately 1500 crore Indian rupees through the private placement of unsecured debt instruments (NCDs) in one or more tranches.
Furthermore, the company intends to raise an additional 180 crore rupees by issuing 34.23 million convertible warrants for the promoter group, subject to shareholder approval. The company will seek shareholder consent for these proposals at its 31st Annual General Meeting (AGM), scheduled for August 13.
The Board of Directors approved the issuance of convertible warrants for the promoter group's structures at a price of 526 rupees per unit. These warrants have a face value of 10 rupees and a premium of 516 rupees per share. At the time of publication, the company's shares closed on BSE at 560.20 rupees.
Each warrant can be converted into one ordinary share with the option to exercise the conversion within 18 months from the date of allotment, complying with the regulatory requirements of the Securities and Exchange Board of India (Sebi).
It was previously noted that Brigade's real estate business registered preliminary sales worth 6.13 million square feet (msf), equivalent to a value of 7,424 crore rupees. This segment generated revenue of 4,002 crore rupees, which is 11% higher compared to the same period last year (Y-o-Y).
Brigade's total revenue for the fiscal year 2026 increased by 11.2% year-on-year, reaching 5,909 crore rupees. However, the EBITDA margin slightly decreased by 1% year-on-year, amounting to 1,638 crore rupees. Meanwhile, the company's net profit after tax (PAT) grew by 6.6% year-on-year, reaching 725 crore rupees.
In addition, Brigade Enterprises is expanding its portfolio of residential and commercial real estate across South India. Over the past year, the company has accelerated business development through several land acquisitions and joint development agreements. The company's projects are located in Bangalore, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City, covering residential, office, retail, hospitality, and educational sectors.
Kraken Technology has successfully raised $175 million in a Series B funding round. These funds are earmarked to accelerate the development of autonomous naval defense systems. This financing valued the British company at $1 billion, making it one of Europe's latest technology unicorns specializing in defense technologies.
The round was led by DTCP and also attracted support from several organizations, including the British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, Hakluyt Capital, the UK National Strategic Investment Fund, SmartCap, Notion Capital, and Speedinvest. The capital raised will allow the company to speed up product development and increase its international manufacturing presence. Furthermore, Kraken plans to strengthen production partnerships in key global defense markets.
The company, founded by CEO Mal Criss, develops autonomous surface and underwater unmanned platforms for defense, security, and commercial clients. The systems operate based on lightweight carbon fiber composite materials. The flagship K3 SCOUT platform supports tasks such as maritime surveillance, logistics, force protection, and precision target engagement. The company also produces the K4 MANTA, a hybrid vessel capable of operating both above and below the water for covert operations.
Kraken's larger platforms, such as the K5 KRAKEN and K7 SABRE, are designed for long-duration missions, anti-submarine warfare, and advanced strike capabilities. These modular systems allow operators to quickly adapt vessels to changing mission requirements. Kraken has established manufacturing partnerships with several international defense companies to support local production. Partners include Rheinmetall in Germany, Anduril Industries in the United States, and Davie Shipbuilding from Inocea in Canada. The company intends to create additional manufacturing alliances in the Middle East and the Indo-Pacific region. This strategy aims to enhance supply chain resilience and help defense clients develop their own manufacturing capacities.
The funding followed the acquisition of several major contracts from the UK Ministry of Defence, NATO partners across Europe, and the US Special Operations Command. Kraken stated that its autonomous platforms are already being used in active combat zones. CEO Mal Criss noted that the investment will accelerate the international launch of mission-ready naval capabilities for NATO allies and global defense partners. According to DTCP partner Ole Agirre, the maritime sector has historically received fewer investments despite its strategic importance. He added that Kraken has demonstrated the ability to rapidly create affordable autonomous vessels that meet NATO requirements. Kraken's distinction from many competitors lies in combining proprietary engineering with manufacturing partnerships, rather than building its own shipyards, which allows for faster production scaling and supports local industrial capacity in different regions.
Ujjivan Small Finance Bank has announced a change in interest rates for FCNR(B) deposits ranging from three to five years. The new rate is 7.50%, which is higher than the previously offered 7.13%. This increase occurred after the Reserve Bank of India (RBI) lifted the interest rate cap for new FCNR(B) deposits of a similar term.
The bank stated that this change underscores its commitment to providing competitive and client-centric banking solutions for the Non-Resident Indian (NRI) community. Furthermore, it supports India's efforts to strengthen its foreign exchange reserves and external sector.
Ujjivan SFB added that with this improved offering, the bank intends to enhance NRI participation, attract long-term foreign currency deposits, and contribute to the country's broader goals of sustainable economic growth and external sector stability.
Hitendra Jha, Head of Retail Liabilities, TASC and TPP at Ujjivan Small Finance Bank, noted that raising the interest rate on USD FCNR(B) deposits for a term of three to five years to 7.50% per annum makes it one of the most competitive offerings in the market.
Among major lenders such as State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank, the current rates for FCNR(B) deposits with a term of three to five years reach 6 percent. Previously, Bank of Baroda (BoB) also increased rates on these deposits by 50 basis points, reaching a peak rate of 6.25 percent for five-year deposits.
However, some mid-sized and small private banks offer higher rates compared to their larger counterparts. For instance, Yes Bank offers up to 6.6 percent on five-year FCNR(B) deposits, while AU Small Finance Bank offers a peak rate of 7.1 percent. CSB Bank offers 6.95 percent for such deposits.
