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UK Steel Warns Electricity Prices Now 77% Higher Than France and Germany

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British manufacturers are facing fresh uncertainty as Donald Trump’s sweeping new steel and aluminium tariffs threaten more than £2.7 billion ($3.43bn) worth of UK exports to the United States — a move that is already prompting order cancellations, price hikes, and long-term strategic questions for exporters.

Britain’s steel producers are sounding the alarm over a widening electricity price chasm with European rivals, warning that the escalating Middle East war has pushed UK power costs to levels that threaten the industry’s survival and could derail the Government’s flagship Steel Strategy.

In its response to the Government’s publication today of findings from the consultation on the British Industrial Competitiveness Scheme (BICS), trade body UK Steel has offered cautious praise tempered with a stark warning: while the new scheme will deliver meaningful relief to parts of the steel supply chain, it does nothing to tackle the crippling wholesale electricity costs squeezing steelmakers themselves.

The numbers make sobering reading for anyone invested in the fortunes of British heavy industry. UK steelmakers are now paying up to 77% more for electricity than their counterparts in France and Germany, a yawning gap that has ballooned from roughly 25% in a matter of months. Indicative industrial prices for 2026 place UK costs at around £84 per megawatt hour, against approximately £48 in France and £65 in Germany.

The fallout is measured in tens of millions. Without intervention, UK Steel calculates the industry will shoulder an additional £82 million in annual electricity costs compared with operating in France, a burden that risks stalling decarbonisation projects, bleeding order books to continental rivals and undermining the credibility of the Government’s Steel Strategy.

The BICS itself has been broadly welcomed for what it does offer. The scheme will materially reduce electricity bills for parts of the steel supply chain and energy-intensive assets that have until now fallen outside existing support frameworks. For companies previously ineligible for any relief, it represents a significant and overdue lifeline.

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The sticking point is that steelmakers themselves already benefit from similar support via the British Industry Supercharger, leaving the core competitiveness challenge untouched. That challenge has been brought into painful relief by the Middle East war, which has sent wholesale gas and electricity prices surging and exposed once again the UK’s structural dependence on gas-driven power pricing.

Frank Aaskov, Director of Energy and Climate Change Policy at UK Steel, said the scheme was a helpful step but fell short of addressing the fundamental problem.

“The BICS will bring welcome relief for parts of the steel supply chain and manufacturers not currently covered by existing schemes and materially lower their energy bills,” he said. “But it will not lower electricity prices for steel producers themselves, who remain exposed to exceptionally high wholesale power costs.”

Aaskov added that the deterioration had been rapid and severe. “That problem has intensified sharply in recent months. As a result of the Middle East war, UK steelmakers are now paying nearly 80% more for electricity than competitors in France and Germany, up from around 25% previously. This is happening despite the support already in place and reflects the UK’s continued exposure to gas-driven electricity prices.”

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The industry body is pressing ministers to go further, advocating for a wholesale price rebalancing mechanism along the lines proposed by consultancy Baringa. Such a measure, UK Steel argues, would realign Britain’s industrial power costs with those of continental competitors and restore the investment confidence the sector urgently needs.

“To make the Steel Strategy a success and deliver the Government’s industrial and decarbonisation ambitions, additional measures are now essential,” Aaskov said. “That means targeted action to bring wholesale electricity prices into line with our European competitors that gives industry the confidence to invest.”

For SME suppliers woven through the steel value chain, from specialist fabricators to downstream manufacturers, the stakes are considerable. A weakened domestic steel industry would reverberate through thousands of smaller firms whose order books depend on healthy demand from the big producers. The question now facing Westminster is whether a partial fix is enough, or whether bolder intervention on wholesale pricing is the only credible route to keeping British steel in the game.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Asia FX muted with Iran peace in focus; yen weakens as BOJ dents rate hike bets

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Israel and Lebanon begin ceasefire, Trump says Iran may meet US over weekend

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NYT Connections Answers April 17 2026 Revealed as Puzzle #1041 Delights Players With Clever Drink and Piano

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Nancy Guthrie

NEW YORK — The New York Times Connections puzzle for Friday, April 17, 2026, delivered a satisfying mix of everyday knowledge and wordplay as players grouped 16 words into four clever categories in game #1041, with many hailing the solution as one of the more enjoyable Friday challenges of the year.

The official answers for today’s Connections are:

Yellow (easiest): Vegetable parts — BULB, LEAF, ROOT, STEM Green: Prevailing — COMMON, DOMINANT, GENERAL, POPULAR Blue: Parts of a piano — HAMMER, KEY, PEDAL, STRING Purple (hardest): Second halves of drink names — SODA, STORMY, TAN, TONIC

Players who spotted the vegetable group early often cruised through the puzzle, while the purple category — pairing words that complete drink names like gin and tonic, dark and stormy, tequila sunrise (or simply “tan” in some contexts), and rum and soda — provided the satisfying “aha” moment that Connections fans crave. The piano parts category rewarded music knowledge, linking mechanical components of the instrument in a clean blue grouping.

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The 16 words presented were: BULB, COMMON, DOMINANT, GENERAL, HAMMER, KEY, LEAF, PEDAL, POPULAR, ROOT, SODA, STEM, STORMY, STRING, TAN, TONIC. Many solvers noted the puzzle struck an ideal balance — accessible enough for casual players yet tricky enough to separate perfect solvers from those who needed a few mistakes.

Connections, created by Wyna Liu and published daily by The New York Times, challenges players to find the common thread linking four groups of four words each. Categories range from straightforward (yellow) to devilishly subtle (purple), with color-coded feedback helping players adjust their thinking. Friday’s edition kept the difficulty moderate, avoiding overly obscure references while still offering clever misdirection.

Social media lit up with reactions as players shared their grids using the familiar emoji pattern. Many posted perfect solves with the sequence yellow-green-blue-purple, while others celebrated a “reverse rainbow” by cracking the hardest group first. Comments ranged from “Finally a Friday that didn’t destroy my streak” to “The drink one got me good — who thinks of ‘tan’ as a drink half?”

The vegetable parts category proved the most straightforward for most, with BULB, LEAF, ROOT and STEM forming an obvious botanical group. Prevailing synonyms — COMMON, DOMINANT, GENERAL, POPULAR — tested vocabulary nuance, as players had to distinguish them from similar-sounding concepts like “famous” or “widespread.”

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The piano group required a bit more domain knowledge or lateral thinking. HAMMER (the felt-covered striker), KEY (the white and black notes), PEDAL (sustain or soft), and STRING (the vibrating wires) form the core mechanical elements inside many pianos. Some players admitted guessing this set only after eliminating other possibilities.

The purple category stood out for its elegance. SODA completes “rum and soda” or “vodka soda,” STORMY finishes “dark and stormy,” TAN pairs with “tequila sunrise” (or simply appears in cocktail contexts), and TONIC famously completes “gin and tonic.” The subtlety of “second halves” made this the most rewarding solve for many.

Hints released ahead of the puzzle guided players without spoiling the fun. Common advice included looking for words that could pair with the same preceding term (as in the drink category) or identifying parts of a larger whole (piano components and vegetable sections). Music lovers and gardeners reportedly had an edge today.

For newcomers, Connections rewards pattern recognition over raw vocabulary size. Strategies that help include scanning for obvious groups first, noting repeated themes like body parts or food items, and using process of elimination once one or two categories click. The game’s one-mistake tolerance before a loss adds tension without excessive frustration.

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As of April 2026, Connections continues to grow in popularity alongside Wordle and the Mini Crossword. Millions play daily, with streaks tracked religiously by dedicated fans. The New York Times has expanded the game’s reach through its app and website while keeping the core experience simple and ad-light for subscribers.

Friday’s puzzle followed Thursday’s edition, which many described as tougher, and set a lighter tone heading into the weekend. Solvers who missed today’s groups can try again tomorrow with a fresh set of 16 words, as each puzzle resets at midnight.

Community discussions on Reddit’s r/NYTConnections and social platforms often break down why certain groupings work or mislead. Today’s thread highlighted appreciation for the piano and drink categories, with some calling the purple group “chef’s kiss” for its cleverness. Others shared stories of solving it while drinking their morning coffee, joking that the tonic category felt especially appropriate.

The game’s appeal lies in its shared daily ritual. Families compete over breakfast tables, office workers share scores in group chats, and online strangers bond over commiserating about tough purples or celebrating perfect solves. Unlike some word games that reward obscure knowledge, Connections often feels fair even when challenging.

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For those who struggled today, common pitfalls included lumping “KEY” with vegetable or prevailing groups before realizing its musical role, or trying to force “STORMY” into weather-related categories. The beauty of the puzzle is that once the correct threads emerge, everything snaps into place with satisfying logic.

Looking ahead, weekend puzzles sometimes lean more playful or theme-heavy, though the core four-category structure remains consistent. Players hoping to maintain or extend their streaks are advised to approach each new day with fresh eyes and avoid carrying over assumptions from previous games.

The April 17, 2026, edition stands as a strong example of what makes Connections special: clever but not cruel, accessible yet rewarding for sharper minds. Whether solved in one flawless attempt or after a couple of thoughtful mistakes, today’s groups left most players smiling and ready for the next challenge.

As the weekend begins, the global Connections community will reset and return Saturday for puzzle #1042, eager to discover what new connections await. For now, Friday’s vegetable garden, prevailing moods, piano innards and cocktail completions provide plenty to discuss and celebrate.

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PepsiCo affordability push brings snack buyers back as demand shows early recovery

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PepsiCo affordability push brings snack buyers back as demand shows early recovery

PepsiCo said Thursday its push to make snacks more affordable is bringing customers back, offering an early sign that consumers are starting to return after pulling back in recent years.

The company reported stronger-than-expected quarterly results, with both revenue and profit rising. A notable change came in its North American food business, where demand for products like chips and snacks showed early signs of recovery.

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After a stretch where higher prices weighed on buying habits, PepsiCo said its efforts to improve affordability are beginning to resonate with shoppers. That shift helped drive growth in volumes, indicating consumers are buying more – not just paying higher prices.

PEPSICO TO SLASH PRICES ON POPULAR SNACKS AFTER CONSUMER BACKLASH

PepsiCo reported stronger-than-expected quarterly results on Thursday morning. (Patrick T. Fallon / AFP via Getty Images)

Executives pointed to a broader strategy that combines pricing adjustments with new products and marketing efforts aimed at keeping brands relevant while easing pressure on consumers.

POTATO CHIP BRAND UNVEILS BIGGEST REDESIGN IN NEARLY 100-YEAR HISTORY

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Ads ahead of the Super Bowl are hoping to reach broader audiences. (Kirby Lee-Imagn Images via Reuters)

The turnaround is still early, but it suggests PepsiCo may be finding the right balance after a period when price increases across the industry tested customer loyalty.

CHILI’S TAKES AIM AT MCDONALD’S WITH NEW VALUE DEAL MENU OFFERINGS

A bag of PepsiCo Inc. Doritos

A notable change came in PepsiCo’s North American food business, where demand for products like chips and snacks showed early signs of recovery. (Daniel Acker/Bloomberg via Getty Images)

At the same time, the company’s beverage business in North America remains under pressure, with softer demand highlighting uneven performance across its portfolio.

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Going forward, PepsiCo said it expects steady growth this year, even as the broader economic backdrop remains uncertain, and consumer spending patterns remain in focus.

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Xanax XR recall issued nationwide over release issue

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Xanax XR recall issued nationwide over release issue

A batch of Xanax XR is being recalled nationwide after the manufacturer found it may not release the medication in the body as intended.

Viatris, Inc. initiated the voluntary recall for ALPRAZolam extended-release tablets, 3 mg, distributed in 60-count bottles under lot number 8177156 with an expiration date of Feb. 28, 2027, according to the U.S. Food and Drug Administration.

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Xanax XR is a benzodiazepine used to treat panic disorder and anxiety in adults.

The issue was classified as a Class II recall, meaning it may cause temporary or medically reversible health effects but is unlikely to result in serious harm.

350K SUPPLEMENTS RECALLED FOR PACKAGING FLAW THAT POSES ‘SERIOUS INJURY OR DEATH’ RISK TO CHILDREN

A pharmacy tech pulls medication from a shelf inside a pharmacy

A pharmacy tech pulls medication from a shelf inside a pharmacy in Provo, Utah on Thursday, Aug. 7, 2025.  (George Frey/Bloomberg via Getty Images / Getty Images)

“Failed dissolution specifications” indicate the tablets may not dissolve and release the medication at the intended rate. Because Xanax XR is designed to release gradually over time, any variation could affect how the drug is delivered in the body — and how well it works.

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The affected product was distributed nationwide in the United States, though the recall applies only to the specific lot identified. The FDA lists the recall as ongoing, with no termination date yet announced.

TOYOTA RECALLS 73K HYBRID VEHICLES OVER PEDESTRIAN WARNING SOUND ISSUE

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In this photo illustration, the Viatris Inc. logo is seen displayed on a smartphone screen.  (Rafael Henrique/SOPA Images/LightRocket via Getty Images)

A spokesperson for Viatris told FOX Business the recall is limited in scope and does not pose a significant risk to patients.

“The voluntary recall of Xanax XR in the U.S. is specific to one lot of one strength (3mg) of the brand product only, and 51 bottles were distributed to U.S. wholesalers between Aug. 27, 2024, and May 29, 2025,” the spokesperson said. “No other batches of the Xanax XR brand product, or its generics, are impacted.”

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EINSTEIN BAGELS CREAM CHEESE SPREAD RECALLED OVER ALMONDS THAT COULD CAUSE LIFE-THREATENING ALLERGIC REACTION

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A sign for the Food And Drug Administration is seen outside of the headquarters on July 20, 2020, in White Oak, Maryland. (Sarah Silbiger/Getty Images)

The spokesperson added that most patients in the U.S. are prescribed generic ALPRAZolam, which is not affected by the recall.

“The risk to the patient associated with this event is considered to be negligible. To date, no reports of adverse reactions associated with this lot have been received,” the spokesperson said.

Viatris said the recall is being conducted at the retail level, meaning pharmacies and wholesalers have been instructed to return the affected product.

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“Patients do not need to take any action,” the spokesperson said.

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DoorDash rolls out new ad tools to help restaurants target high-value customers

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DoorDash rolls out new ad tools to help restaurants target high-value customers

DoorDash is rolling out new advertising features to help restaurants find customers who are more likely to order from them, bring in new diners and expand their business more efficiently.

In a news release shared by the company on Thursday, three new tools have been added to the online food ordering/delivery platform to help restaurants quickly gain regular customers

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“Restaurant brands want to reach customers who will genuinely enjoy their food and hospitality and keep coming back over time,” Vassili Samolis, VP of ad products & AI foundations at DoorDash, said in the release. 

“We built these tools to help restaurants connect with the right audience and better understand which menu items, promotions and experiences are driving results so they can make smarter decisions, invest with confidence and grow their business on DoorDash.”

‘DOORDASH GRANDMA’ PRAISES TRUMP TAX BREAK AFTER 11K SAVINGS AMID HUSBAND’S CANCER FIGHT

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DoorDash has launched three new tools on its app to better help restaurants target customers. (Thiago Prudencio/SOPA Images/LightRocket via Getty Images / Getty Images)

One of the tools is called Brand Interest Targeting, which allows restaurants to show ads to people who already like similar food or brands. 

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In tests, ads using this feature performed better, bringing in over 14% more return on ad spend compared to ads without targeting, according to the news release.

DoorDash also introduced the Brand Sales Growth tool that shows how a restaurant’s sales are growing compared to similar businesses. It specifically looks at trends from the past three months and helps restaurants understand whether their ads are actually helping them grow.

The platform has additionally introduced Average Ticket Sizing Reporting, allowing restaurants to target customers based on how much they usually spend.

GRUBHUB LAUNCHES FIRST-EVER COMMERCIAL DRONE FOOD DELIVERY SERVICE IN NEW JERSEY

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The new DoorDash features for restaurants include the Brand Interest Targeting, Brand Sales Growth and Average Ticket Sizing Reporting tools. (Michael Nagle/Bloomberg via Getty Images / Getty Images)

For example, a restaurant can focus on customers who tend to place bigger, higher-value orders — not just more orders.

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The news release reported that, in early tests, targeting high-spending customers increased order size by over 35% and delivered much better returns compared to untargeted ads.

Taken together, the tools signal a shift toward more data-driven competition on the platform, where success may depend less on broad visibility and more on how precisely restaurants can target the right customer.

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Energy Shocks and Uncertainty Hamper Growth in East Asia and the Pacific

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Thailand Braces for Economic Ripples as Middle East Conflict Escalates

The World Bank Group’s EAP Economic Update, released today, reports that economic growth in the East Asia and Pacific (EAP) region is projected to slow in 2026 due to external shocks.

Key points

  • 📉 Regional slowdown: Growth in East Asia and Pacific is projected to fall from 5.0% in 2025 to 4.2% in 2026, mainly due to energy shocks from the Middle East conflict, trade barriers, and global uncertainty.
  • 🇨🇳 China’s deceleration: China’s growth is expected to drop from 5.0% in 2025 to 4.2% in 2026 and 4.3% in 2027, with weak domestic demand and property sector challenges weighing heavily.
  • 🌏 Rest of the region: Growth outside China will slow to 4.1% in 2026 but could rebound to 5.0% in 2027 if geopolitical tensions ease.
  • Energy shock impact: Countries more dependent on energy imports face greater risks. A sustained 50% rise in fuel prices could cut household incomes by 3–4%.

Regional growth is projected to slow to 4.2% in 2026 from 5.0% in 2025, as the energy shock due to the Middle East conflict compounds the adverse impact of elevated trade barriers, global policy uncertainty, and domestic economic difficulties.

China’s economic growth to slow from 5.0% in 2025 to 4.2% in 2026.

Growth in China, the region’s largest economy, is projected to decelerate from 5.0% in 2025 to 4.2% in 2026 and 4.3% in 2027, as weak domestic demand and property sector challenges persist, and the global slowdown dampens export growth. Growth in the rest of the region will slow to 4.1% in 2026 and is projected to rebound to 5.0% in 2027 as geopolitical tensions ease and uncertainty diminishes.

Growth in East Asia and Pacific continues to outperform much of the world, even in uncertain times,” said Carlos Felipe Jaramillo, World Bank Vice President for East Asia and Pacific. “Yet, sustaining growth levels requires countries to confront structural challenges and seize the opportunity of the digital age to increase productivity and create more jobs.”

Rising fuel prices may lower regional household incomes

The impact of the Middle East conflict depends on each country’s reliance on energy imports, existing vulnerabilities, and economic policy flexibility. Prolonged and intensified conflict may further increase economic distress and reduce regional growth. A sustained 50 % increase in fuel prices could lead to a 3-4% loss in income for households in the region. Targeted support—for both the poor and the vulnerable and the small and medium enterprises—can help those most in need without fiscal strain.

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The region’s past resilience is remarkable, but present difficulties could increase economic distress and  inhibit productivity growth,” said Aaditya Mattoo, World Bank Group Director of Research.

Measured support for people and firms could preserve jobs today and reviving stalled structural reforms could unleash growth tomorrow.

The report identifies surging AI-related exports and investment as a bright spot in 2025, especially in Malaysia, Thailand, and Viet Nam. AI could also lead to higher productivity growth, but adoption in EAP remains limited because of gaps in connectivity and skills. Only 13 to 17% of multinational subsidiaries in China and Thailand currently use AI, which is one third of the proportion in industrial countries.

Source : Energy Shock and Uncertainty Slow Growth in East Asia and Pacific

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Acting US ICE head Todd Lyons to leave agency at end of May

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Acting US ICE head Todd Lyons to leave agency at end of May


Acting US ICE head Todd Lyons to leave agency at end of May

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Logistics firms enter last mile for IPO delivery, rev up for Rs 9,000 crore issues

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Logistics firms enter last mile for IPO delivery, rev up for Rs 9,000 crore issues
India’s logistics sector is heading into a fresh IPO cycle, with a clutch of companies lining up to tap the primary markets amid improving demand visibility and a supportive policy backdrop.

Skyways Air Services, CJ Darcl Logistics, Leap India, Caliber Mining & Logistics, Shiprocket, Horizon Industrial Parks and Yatayat Corporation India Ltd have filed draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi).

Together, these firms are expected to raise roughly ₹8,000-9,000 crore over the next few quarters.

Logistics Firms Enter the Last Mile for IPO DeliveryET Bureau

Investor Confidence Rises in Sector’s Structural Growth

Horizon Industrial Parks is likely to anchor the fundraising wave with a planned issue size of around ₹2,600 crore, followed by Leap India Ltd and Shiprocket that are planning to raise around ₹2,400 crore each, while Skyways Air Services, CJ Darcl Logistics and Yatayat Corporation India are expected to launch mid-sized offerings.

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The upcoming logistics IPO pipeline reflects increasing confidence in the sector’s structural growth story, said Dharmesh Mehta, managing director & CEO — DAM Capital Advisors.
“Achieving India’s projected growth trajectory will be difficult without a meaningful scale up of the logistics eco system, which in turn requires access to growth capital,” he said.Skyways Air Services, CJ Darcl Logistics, Leap India, Caliber Mining & Logistics and Shiprocket have already received regulatory approval to launch their IPOs.

The rush to public markets comes at a time when logistics companies are expanding capacity to cater to rising demand from e-commerce, manufacturing and infrastructure sectors.

Logistics Firms Enter the Last Mile for IPO Delivery
“Demand visibility has improved significantly over the past few quarters, driven by strong consumption trends and industrial activity,” said Deep Shah, a senior manager at Unistone Capital Pvt Ltd, a merchant banking firm. “Companies are now looking to strengthen their balance sheets and fund expansion through public capital. At the same time, global geopolitical tensions and disruptions in key trade routes have added complexity to supply chains.”

Higher freight and insurance costs, along with volatility in fuel prices, have forced companies to recalibrate pricing strategies and optimize operations, said Shah.

The valuation benchmark that looms over the current pipeline is Delhivery, which raised ₹5,235 crore in its May 2022 IPO but spent nearly two years trading below its issue price before recovering. That experience may prompt institutional investors to be choosy.

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“The market has a longer memory now,” said Dev Chandrasekhar, partner at Transcendum, a valuations branding advisory. “Logistics remains a great sector, but pricing needs to reflect the capital intensity honestly.”

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NRW books $160m suite of contracts

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NRW books $160m suite of contracts

NRW subsidiary Fredon has secured five electrical and mechanical contracts, valued at around $160 million.

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