Industry Today: Major Investments, Expansion Plans & Acquisitions

India’s industrial landscape is seeing fresh investment across renewable energy, electrical products, healthcare, pharmaceuticals and engineering.

From large-scale acquisitions and new manufacturing facilities to capacity expansion and power infrastructure projects, companies are making strategic moves to capture growing domestic demand and emerging opportunities.

Purvah Green Power moved closer to acquiring Welspun New Energy as it builds a larger renewable energy portfolio. Aditya Birla Group launched its wires and cables business, while Max Healthcare announced plans to expand its network to 10,000 beds.

In pharmaceuticals, RPG Life Sciences agreed to acquire Raghava Life Sciences’ API and intermediates business. Meanwhile, Wipro Kawasaki announced Rs 1,000 crore manufacturing investment in Karnataka, and Ceigall India secured Rs 5,300 crore transmission project in Gujarat.

Here’s a look at today’s biggest industry moves.

1. Purvah Green Power to Acquire Welspun New Energy for Rs 2,500 Crore

Purvah Green Power, the renewable energy arm of the RP Sanjiv Goenka Group, is set to acquire Welspun New Energy (WNEL) at an enterprise valuation of around Rs 2,500 crore.

The proposed deal would give Purvah access to WNEL’s renewable energy development pipeline as it moves towards building a 10 GW green power portfolio through acquisitions and greenfield projects.

The transaction follows Purvah’s recent acquisition of 1.4 GW of operational solar assets from ReNew Power for an enterprise valuation of Rs 4,859 crore.

• Purvah’s contracted renewable capacity has reached 4.8 GW
• The company plans to invest around Rs 65,000 crore towards a 10 GW portfolio by 2032
• WNEL is targeting 5 GW of renewable capacity by 2030

2. Aditya Birla Group Enters Wires & Cables With Rs 1,800 Crore Bet

Aditya Birla Group has launched Ultravolt, its wires and cables business housed under UltraTech Cement, with an investment of Rs 1,800 crore.

Ultravolt plans to reach more than one lakh retailers and use over 5,000 UltraTech Building Solutions outlets as part of its distribution network. Its initial rollout will cover more than 500 districts and 6,000 pin codes.

• The organised segment’s market share rose from 68% in FY19 to around 73% in FY24
• The industry recorded around 13% revenue CAGR between FY19 and FY24
• Domestic cable and wire demand is estimated to grow at 11–13% CAGR between FY24 and FY27

“Wires and cables are becoming central to India's next phase of development.” — Kumar Mangalam Birla, Chairman, Aditya Birla Group

3. Max Healthcare Targets 10,000 Beds With INR 6,200 Crore Investment

Max Healthcare plans to invest around Rs 6,200 crore over the next three years to expand its capacity to 10,000 beds, according to Chairman and Managing Director Abhay Soi.

The expansion is being driven by rising domestic healthcare demand and India’s growing position as a medical tourism destination. Medical tourism currently contributes around 9% of the company’s business, with the hospital chain treating more than 40,000 international patients from 180 countries annually.

Its expanded Max Saket cluster in New Delhi has reached approximately 1,200 beds. The new facility incorporates technologies including AI platforms, robotics and immunotherapy.

• Max Healthcare has crossed 6,000 beds from around 3,500 two years ago
• International patients account for around 9% of its business
• The company aims to reach 10,000 beds within three years

4. RPG Life Sciences Acquires Raghava Life Sciences’ API Business for Rs 135 Crore

RPG Life Sciences, through its wholly owned subsidiary RPG Active Pharma, has entered into an agreement to acquire the API and intermediates business of Raghava Life Sciences for up to Rs 135 crore.

The acquisition includes 22 commercialised APIs and seven development-stage assets across therapeutic areas such as diabetes, cardiovascular and central nervous system treatments.

• The portfolio includes 22 commercialised APIs
• Seven additional assets are at the development stage
• The acquisition will strengthen RPG Active Pharma’s API and manufacturing capabilities

“We intend to build a larger presence and capture a greater share of the growing API market.” — Ashok Nair, Managing Director, RPG Life Sciences

5. Wipro Kawasaki to Invest INR 1,000 Crore in Karnataka Manufacturing Plant

Wipro Kawasaki Precision Machinery is set to establish a new hydraulic pump manufacturing plant in Karnataka with an investment of INR 1,000 crore.

The facility, proposed at Phase V of the Harohalli Industrial Area, is expected to generate around 1,200 jobs. The company has sought 30 acres of land for the project and plans to commence operations within a year.

Wipro Kawasaki currently operates a manufacturing unit at Kumbalgodu, where it produces around 80,000 hydraulic pumps annually. The proposed facility is expected to increase annual production capacity to more than two lakh hydraulic pumps.

• The project involves an investment of Rs 1,000 crore
• Around 1,200 jobs are expected to be created
• New annual production capacity is planned at more than two lakh hydraulic pumps

6. Ceigall India Secures Rs 5,300 Crore Gujarat Transmission Project

Ceigall India has received a letter of intent from REC Power Development and Consultancy for Rs 5,300 crore transmission project in Gujarat.

The project is expected to take 36 months to execute, followed by a 35-year operational period. Ceigall India will receive annual transmission charges of Rs 608.67 crore during the operational period.

• The project is valued at approximately Rs 5,300 crore including GST
• The transmission network will span around 300 km
• Ceigall India will receive Rs 608.67 crore annually during the operational period

“The project will contribute to the development of critical power transmission infrastructure in Gujarat.” — Ramneek Sehgal, Managing Director, Ceigall India