Latest news with #NikhilAggarwal
Mint
3 days ago
- Business
- Mint
L&T's ESG bond debut may open India's sustainable debt market—if investors stay interested
Mumbai: On 23 June, infrastructure giant Larsen & Toubro (L&T) listed India's first environmental, social & governance (ESG) bond on the National Stock Exchange under Sebi's new framework. While Indian companies have previously raised ESG debt overseas, L&T's rupee-denominated issuance is a domestic first under Sebi's guidelines. Experts believe the ₹750 million sustainability-linked bond (SLB), anchored by HSBC and offering a 6.35% coupon (competitive by market standards) suggests that investors are willing to back credible ESG-labelled issuances. But whether this debut sparks a broader trend or remains an isolated milestone hinges on a critical factor: investors' willingness to pay the 'greenium" – the difference between the yield or returns investors receive from a green bond versus a similar conventional bond. 'The primary factor will be investor interest and their willingness to offer a green or ESG premium to the bond issue compared to other fixed-income instruments," said Bose Varghese, senior director-ESG at Cyril Amarchand Mangaldas. 'Demand for rupee-denominated ESG bonds has been lukewarm because of the issuers' expectation of a 'green premium' and investors' lack of interest to offer that. But L&T has done it. We can expect more to follow", he said. Global vs local demand Globally, ESG-labelled instruments from Indian companies have seen strong demand. In 2015, Exim Bank issued a $500-million green bond, followed by Axis Bank in 2016. But in India, listed green bond issuance, including municipal bonds, stood at just ₹6,953 crore as of March 2025, according to Sebi data collated by ICRA ESG Ratings Ltd. According to data cited by Nikhil Aggarwal, CEO of investment platform Grip Invest, green bonds outperformed conventional bonds by nearly 2% in 2024. 'The positive response from institutional investors highlights strong demand, which will be critical for future issuances," said Aggarwal. R. Shankar Raman,president, whole-time director & chief financial officer (CFO) at L&T, told Mint the company aims to encourage responsible finance as a strategic pillar. 'We received interest from reputed investors and arrangers who were aligned with the ESG theme. The issuance also enabled us to secure beneficial pricing, reflecting the positive market sentiment toward credible sustainability-linked offerings," he said. Data from Prime Database showed thatIndia's green bond market saw 27 issues totalling ₹8,743 crore between FY21 and FY25. The highest was in FY22, when ₹2,677 crore was raised across 10 issues. Only two issues, worth ₹700 crore, have been recorded so far in FY26. Sebi's ESG bond framework Sebi's 5 June circular introduced a framework covering green, social, sustainability, and sustainability-linked bonds. It mandated KPI-linked disclosures and third-party verification. 'While the framework is robust, its effectiveness will depend on the independence and reputation of the third party hired," said Varghese. 'L&T has long-standing sustainability targets, including carbon and water neutrality," said Heena Khushalani, partner, climate change and sustainability services, EY India. 'For a company with strong internal momentum on ESG and measurable long-term targets, this instrument is flexible and a logical step," she added. Khushalani also pointed out that SLBs often include coupon rate adjustments based on the achievement of sustainability targets. 'If attractive coupon rates—like the 6.35% in L&T's case—become a trend, it'll incentivise more issuers," she said. To be clear, among green bonds with a three-year tenure, Avaada Solaris and Clean Sustainable Energy offer a 6.75% coupon rate, according to data from Prime Database. Still, a shortage of qualified reviewers in India could delay issuances. 'This could create bottlenecks in timely issuance and validation," Aggarwal warned. Khushalani said, 'Sebi, NSE, or platforms like GIFT City could jointly issue guidelines or empanel competent verifiers to mitigate greenwashing risks." The push for sustainable finance is likely to grow, especially among large firms with net-zero commitments. Experts said the Sebi framework has brought regulatory clarity and boosted investor confidence. 'As successful examples emerge, more corporates are likely to explore ESG bonds, not just as a funding tool but as a strategic instrument to align with global investor expectations," said L. Shivakumar, CEO of ICRA ESG Ratings Ltd. Shivakumar also highlighted India's proposed draft climate finance taxonomy, aimed at bringing consistency to ESG disclosures by aligning them with global standards. 'It will provide a structured classification system that enables better comparability and tracking of outcomes," he added. Smaller firms could struggle Despite policy momentum, experts said smaller firms could struggle to participate in the ESG debt market owing to high compliance costs, limited visibility, and weaker secondary-market liquidity. 'So far we have seen only large, reputed Indian corporations issuing ESG-labelled bonds," said Varghese. 'For smaller companies with smaller fund requirements, issuance costs may prove significant." Indian Renewable Energy Development Agency Limited issued a 10-year bond for ₹590 crore in 2019 and Dme Development Limited issued a 10-year bond for ₹775 crore in 2024. An analyst at a rating agency said, 'The real test will be how effectively Sebi ensures enforcement and prevents greenwashing. Without that, the credibility of the entire market is at stake."
Business Standard
30-05-2025
- Entertainment
- Business Standard
Campus Activewear Unveils Air Capsule Pro With New Campaign Film
NewsVoir New Delhi [India], May 30: Campus Activewear, one of India's leading Sports and Athleisure brands, has unveiled upgraded version of its flagship Air Capsule Collection-- Air Capsule Pro. The new variant is engineered for the multi-faceted, fast-paced lifestyle of the youth, delivering elevated aesthetics, impact cushioning, and versatility across different moments of the day-- from work and workouts to gigs, gatherings, and getaways. At the core of the launch lies a sharp cultural insight: life today is lived in capsules-- high-energy bursts of moments, emotion, and intent. The Air Capsule Pro campaign builds on this metaphor to showcase how a single shoe tech can transit through these distinct life contexts without breaking the momentum. Be it the Work Capsule, Gym Capsule, or Play Capsule, the product is designed to move effortlessly between moments-- offering one tech for infinite modes. To bring this idea to life, Campus has launched a dynamic brand film featuring actor and youth icon Siddhant Chaturvedi, who also lends his voice to the campaign anthem Aye Bro, Capsule Pro. The film follows a day in the life of the protagonist as he flows from one role to another--each shift sparked by the Air Capsule Pro, the quiet catalyst helping him move through the many capsules of life with ease. From the gym to a shoot, and then to a football ground with friends, the shoe becomes a visual metaphor for momentum and versatility. The film concludes with a striking split-screen convergence into the Air Capsule Pro Collection, reinforcing the core message: "For Every Capsule of Life. Campus Air Capsule Pro." Campaign film link: Speaking on the launch of the collection, Nikhil Aggarwal, Chief Executive Officer and Whole Time Director, Campus Activewear Ltd, said, "Air Capsule Pro represents a decisive leap in our innovation journey--transforming a consumer-favourite technology into an active lifestyle ecosystem. Engineered around deep insights into the dynamic, multi-faceted lives of India's youth, the upgraded capsule unit provides enhanced impact cushioning with an elevated design language. But this is more than footwear--it's a cultural shorthand for unbounded movement. Today's Gen Z doesn't move in silos--they shift fluidly between work, play, socialising and beyond without compromising pace or personality. With the launch of the collection, we are reinforcing our long-term commitment to building future-forward products and stories that combine form, function, and foresight while celebrating the individuality, confidence, and instinct of the youth to move their way." The campaign will roll out as a digital-first initiative across Video+, social networking platforms, influencer collaborations, and an e-commerce focus for maximum discoverability and conversion--reinforcing Campus' position as a leading homegrown brand in youth-driven Sports and Athleisure segment. The Air Capsule Pro Collection is available at and all retail touch points including Exclusive Brand Outlets, Multi Brand Stores, and across e-commerce platforms. Campus is one of India's largest sports and athleisure footwear brands in terms of value and volume in Fiscal 2021. In 2005, Mr. Hari Krishan Agarwal, with his acumen, skill, and innovative thinking, started a never-to-end revolution in the footwear industry with Campus Activewear. Today, the flagship brand 'Campus' has emerged as one of India's biggest domestic sports and athleisure footwear brands, offering a diverse product portfolio for the entire family. With the changing market dynamics, Campus has sustained its focus on product design and innovation by facilitating access to the latest global trends and styles through a fashion-forward approach. With over 23,000 retail touchpoints, over 296 company exclusive outlets, a website ( and being one of the top brands available on e-commerce portals, Campus has secured its pan India presence while capturing the imagination of millions of people across Omni-channel platforms. The brand offers multiple choices across styles, colour palettes, price points, and an attractive product value proposition making Campus, an aspirational brand, especially for young adults, everyday performers, and fashionistas. Strengthening the brand's leadership position in India, Campus was listed on NSE and BSE on 9th of May 2022.
Fashion Value Chain
30-05-2025
- Entertainment
- Fashion Value Chain
Campus Activewear Unveils Air Capsule Pro With New Campaign Film
Campus features Siddhant Chaturvedi in its latest campaign film Designed 'For Every Capsule of Life'- transitioning across work, play, and beyond Campus Activewear, one of India's leading Sports and Athleisure brands, has unveiled upgraded version of its flagship Air Capsule Collection- Air Capsule Pro. The new variant is engineered for the multi-faceted, fast-paced lifestyle of the youth, delivering elevated aesthetics, impact cushioning, and versatility across different moments of the day- from work and workouts to gigs, gatherings, and getaways. Campus Activewear Unveils Air Capsule Pro With New Campaign Film At the core of the launch lies a sharp cultural insight: life today is lived in capsules- high-energy bursts of moments, emotion, and intent. The Air Capsule Pro campaign builds on this metaphor to showcase how a single shoe tech can transit through these distinct life contexts without breaking the momentum. Be it the Work Capsule, Gym Capsule, or Play Capsule, the product is designed to move effortlessly between moments- offering one tech for infinite modes. To bring this idea to life, Campus has launched a dynamic brand film featuring actor and youth icon Siddhant Chaturvedi, who also lends his voice to the campaign anthem Aye Bro, Capsule Pro. The film follows a day in the life of the protagonist as he flows from one role to another-each shift sparked by the Air Capsule Pro, the quiet catalyst helping him move through the many capsules of life with ease. From the gym to a shoot, and then to a football ground with friends, the shoe becomes a visual metaphor for momentum and versatility. The film concludes with a striking split-screen convergence into the Air Capsule Pro Collection, reinforcing the core message: 'For Every Capsule of Life. Campus Air Capsule Pro.' Campaign film link: Speaking on the launch of the collection, Nikhil Aggarwal, Chief Executive Officer and Whole Time Director, Campus Activewear Ltd, said, 'Air Capsule Pro represents a decisive leap in our innovation journey-transforming a consumer-favourite technology into an active lifestyle ecosystem. Engineered around deep insights into the dynamic, multi-faceted lives of India's youth, the upgraded capsule unit provides enhanced impact cushioning with an elevated design language. But this is more than footwear-it's a cultural shorthand for unbounded movement. Today's Gen Z doesn't move in silos-they shift fluidly between work, play, socialising and beyond without compromising pace or personality. With the launch of the collection, we are reinforcing our long-term commitment to building future-forward products and stories that combine form, function, and foresight while celebrating the individuality, confidence, and instinct of the youth to move their way.' The campaign will roll out as a digital-first initiative across Video+, social networking platforms, influencer collaborations, and an e-commerce focus for maximum discoverability and conversion-reinforcing Campus' position as a leading homegrown brand in youth-driven Sports and Athleisure segment. The Air Capsule Pro Collection is available at and all retail touch points including Exclusive Brand Outlets, Multi Brand Stores, and across e-commerce platforms. About Campus Activewear Ltd. Campus is one of India's largest sports and athleisure footwear brands in terms of value and volume in Fiscal 2021. In 2005, Mr. Hari Krishan Agarwal, with his acumen, skill, and innovative thinking, started a never-to-end revolution in the footwear industry with Campus Activewear. Today, the flagship brand 'Campus' has emerged as one of India's biggest domestic sports and athleisure footwear brands, offering a diverse product portfolio for the entire family. With the changing market dynamics, Campus has sustained its focus on product design and innovation by facilitating access to the latest global trends and styles through a fashion-forward approach. With over 23,000 retail touchpoints, over 296 company exclusive outlets, a website ( and being one of the top brands available on e-commerce portals, Campus has secured its pan India presence while capturing the imagination of millions of people across Omni-channel platforms. The brand offers multiple choices across styles, colour palettes, price points, and an attractive product value proposition making Campus, an aspirational brand, especially for young adults, everyday performers, and fashionistas. Strengthening the brands leadership position in India, Campus was listed on NSE and BSE on 9th of May 2022.
India Today
30-05-2025
- Automotive
- India Today
Gensol misses May payment for loan on BluSmart cabs: Report
Gensol Engineering, promoted by two of the founders of electric mobility firm BluSmart, has missed a payment of about Rs 4 crore to its pass-through certificate (PTC) holders this month, reported The Economic Times (ET). The last successful repayment was made in April, said people familiar with the matter. Gensol had raised funds by issuing PTCs, which were offered to retail investors on the online platform Grip Invest. PTCs are loans given in exchange for an underlying asset, in this case, vehicles that run on the BluSmart loans were to be repaid using the cash earned by these electric cabs. But after BluSmart shut down its cab services and ongoing talks with Uber and other fleet operators failed to move ahead, repayments became Invest founder Nikhil Aggarwal confirmed the missed payment as quoted in the report. He said Gensol had raised a total of Rs 5.6 crore through the PTCs. So far, 56% of the principal has been repaid, but an amount of Rs 4.04 crore is still loans were secured against 76 electric vehicles. These vehicles are no longer in operation, as BluSmart has stopped its May 29, the Delhi High Court passed a final order, giving possession of these vehicles to the lessor, Vriksh Advisors, a subsidiary of Grip Invest. The court also allowed Vriksh to sell, operate or lease the vehicles. Aggarwal told ET that the vehicles have been inspected and found to be in good said Vriksh Advisors is now working on setting up charging stations and is in talks with fleet operators to re-deploy these vehicles on ride-sharing an industry insider pointed out that even if the vehicles begin running again, the terms of the original PTC agreement may change. He explained that revenues, commissions and pricing would differ on other platforms, and so the repayment plan would also need to be told ET that Vriksh Advisors is trying to find the best buyer or operator for the vehicles, in the hope that proceeds from the lease or sale will help repay the pending loan amounts.'People invested in BluSmart bonds and PTCs because they believed in the cab service, which had a good brand image, and they were also drawn by the high returns,' one investor told to a credit rating report issued by Care Edge Ratings on Tuesday, the bonds were issued in 2023, were due to mature in 2027, and offered a return of 13.6%.ET had earlier reported on April 21 that many BluSmart investors were expecting defaults on the bonds they had purchased through platforms like Yubi and Centricity. BluSmart had issued over Rs 100 crore worth of bonds over the past year. Of this, investors said that more than Rs 80 crore worth of non-convertible debentures (NCDs) are still due for troubles come as Gensol Engineering's promoters, brothers Anmol Singh Jaggi and Puneet Singh Jaggi, are under investigation. They are accused of diverting company funds for personal use. BluSmart has already stopped operations, and Gensol's bank accounts have been frozen following orders from the National Company Law Tribunal (NCLT) in Indian Renewable Energy Development Agency (Ireda), a government-run lender, said last week that it has moved the Debt Recovery Tribunal in Delhi against Gensol Engineering and its arm Gensol EV Lease, over a default of about Rs 729 crore. Ireda had earlier also filed an insolvency case against crisis began after market regulator Sebi launched a probe into Gensol Engineering following a stock manipulation complaint it received in June 2024. Sebi's investigation revealed that the Jaggi brothers had allegedly used loans meant for buying electric vehicles for personal In advertisement
Fashion Network
15-05-2025
- Business
- Fashion Network
Campus Activewear hosts distributor meet event 'Shoecase 2025'
Campus Activewear, India's leading sports and athleisure footwear brands hosted its distributor meet 'Shoecase 2025' under the theme, 'Move together and grow together' in the national capital New Delhi. The two-day event saw participation by over 180 distributor partners from across India. Highlight of the event was a film conceptualised by Ogilvy showcasing real stories from Campus' distributor family. The event also featured a fashion-first runway experience, showcasing the brand's latest 'Focus' collection. Commenting on the event, Nikhil Aggarwal, CEO of Campus Activewear Ltd in a statement said, 'Shoecase 2025 wasn't just a milestone event—it was a reaffirmation of our purpose and our partnerships. Our distributors are more than just business partners—they are co-creators of our journey.' 'As we step into a future shaped by design, innovation, and youth's culture, we remain rooted in the legacy of trust and shared ambition that brought us here. We are proud to grow with them, and to move ahead—together,' he added. Campus Activewear retails its footwear through multi-branded stores, exclusive Campus outlets, and various e-commerce platforms.
