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The orders are scheduled for execution over FY26 and FY27, ensuring steady revenue streams in the coming years.

As per the notice issued the company will show cause within 30 days as to why GST of ₹96.58 Crore should not be demanded.

Official sources stated on Thursday that the Telangana government has agreed to acquire Phase-I of the Hyderabad Metro Rail project

The company stressed that the investment will depend on the financial feasibility of individual projects and will require all necessary corporate and regulatory approvals.

On the financial results front, Shriram Finance reported a net profit of ₹2,159.4 crore for Q1, marking a 6.3% increase year-on-year.

Naveen Jindal, Chairman of Jindal Steel, called the commissioning a “proud moment” for both the company and the country.

The SEBI order also stated several non-compliances by the company related to loans and advances. 

The execution period for the project is set at 18 months.

The IPO comprises of a total offer size of upto INR 122.3 cr. It combines an offer for sale of INR 97.9 cr and a fresh issue of INR 24.4 cr.

Kapil Sharma has been named executive director and chief financial officer for a five-year term.