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By:

Bhalchandra Chorghade

11 August 2025 at 1:54:18 pm

NMIA set for commercial take-off on December 25

Long-term expansion plans take shape Mumbai: Even as long-term expansion plans gather momentum, Navi Mumbai International Airport (NMIA) is preparing to mark a defining milestone with the commencement of commercial operations from December 25, 2025. Sources familiar with the development confirmed that the first flight is scheduled to land at NMIA at around 8.30 am from Bengaluru, operated by IndiGo. The same aircraft will subsequently depart for Delhi, symbolically placing the greenfield...

NMIA set for commercial take-off on December 25

Long-term expansion plans take shape Mumbai: Even as long-term expansion plans gather momentum, Navi Mumbai International Airport (NMIA) is preparing to mark a defining milestone with the commencement of commercial operations from December 25, 2025. Sources familiar with the development confirmed that the first flight is scheduled to land at NMIA at around 8.30 am from Bengaluru, operated by IndiGo. The same aircraft will subsequently depart for Delhi, symbolically placing the greenfield airport on India’s aviation map and formally integrating it into the country’s busiest air corridors. This operational launch comes at a time when the City and Industrial Development Corporation (CIDCO), the project’s nodal planning authority, has initiated the process to appoint a consultant for conducting a geotechnical feasibility study for a proposed third runway at NMIA. The parallel movement of near-term operational readiness and long-term capacity planning underlines the strategic importance of the airport, not just as a secondary facility to Mumbai, but as a future aviation hub in its own right. The December 25 launch date carries significance beyond symbolism. NMIA has been envisioned for over two decades as a critical solution to the capacity constraints at Chhatrapati Shivaji Maharaj International Airport (CSMIA), which operates close to saturation. With limited scope for further expansion at Mumbai’s existing airport, NMIA’s entry into operations is expected to ease congestion, rationalise flight schedules and improve overall passenger experience across the Mumbai Metropolitan Region (MMR). Modest Operations Initial operations are expected to be modest, focusing on select domestic routes, with Bengaluru and Delhi being logical starting points given their high passenger volumes and strong business connectivity with Mumbai and Navi Mumbai. Aviation experts note that starting with trunk routes allows operators and airport systems to stabilise operations, fine-tune processes and gradually scale up capacity. IndiGo’s choice as the first operator also reflects the airline’s dominant market share and its strategy of early-mover advantage at new airports. While NMIA’s first phase includes two runways, the initiation of a geotechnical feasibility study for a third runway highlights planners’ expectations of robust long-term demand. CIDCO’s move to appoint a consultant at this early stage suggests that authorities are keen to future-proof the airport, learning from the capacity limitations faced by CSMIA. A third runway, if found technically and environmentally feasible, would significantly enhance NMIA’s ability to handle peak-hour traffic, support parallel operations and attract international long-haul flights over time. The feasibility study will play a critical role in determining soil conditions, land stability, construction challenges and environmental sensitivities, particularly given Navi Mumbai’s complex terrain and proximity to mangroves and water bodies. Experts point out that such studies are essential to avoid cost overruns and execution delays, which have historically plagued large infrastructure projects in the region. From an economic perspective, the operationalisation of NMIA is expected to act as a catalyst for growth across Navi Mumbai and adjoining regions. Improved air connectivity is likely to boost commercial real estate, logistics parks, hospitality and tourism, while also strengthening the case for ancillary infrastructure such as metro lines, road corridors and airport-linked business districts. The timing of the airport’s opening also aligns with broader infrastructure upgrades underway in the MMR, including new highways and rail connectivity, which could amplify NMIA’s impact. However, challenges remain. Smooth coordination between airlines, ground handling agencies, security forces and air traffic control will be critical during the initial phase. Any operational hiccups could affect public perception of the new airport, making the first few weeks crucial. Additionally, the transition of flights from CSMIA to NMIA will need careful calibration to ensure passenger convenience and airline viability. As NMIA prepares to welcome its first aircraft on December 25, the simultaneous push towards planning a third runway signals a clear message: the airport is not just opening for today’s needs, but is being positioned to serve the region’s aviation demands for decades to come.

SMEs in IPO: A Bubble About to Break?

Updated: Oct 22, 2024

SMEs in IPO

The Indian IPO landscape is witnessing a remarkable surge, particularly in the SME sector, with a record number of companies going public. Traditionally viewed as risky and illiquid, SME IPOs are now attracting significant interest from retail and institutional investors. Recent listings have garnered overwhelmingly positive feedback, signaling a shift in market sentiment.


Initial Public Offerings (IPOs) fall into two categories: Main Board IPOs and SME IPOs. Main Board IPOs involve larger companies with a minimum paid-up capital of Rs.10 crores, whereas SME IPOs target small to medium-sized enterprises with a ceiling of Rs. 25 crores. The trend for SME IPOs has surged due to favorable market conditions, regulatory support, and heightened investor enthusiasm. In 2024, the Indian market witnessed 191 IPOs that raised 6,831 crores, a substantial increase from 182 IPOs raising Rs. 4,967 crores in 2023.


No, let’s have a look at factors that are driving the surge in SME IPOs.

1. Regulatory Support: The Securities and Exchange Board of India (SEBI) has streamlined listing requirements, facilitating the public offerings for SMEs. The minimum paid-up capital for SMEs is set at Rs.1 crore, compared to Rs.10 crores for larger firms, which encourages a broader range of businesses to consider going public.

2. Access to Capital: SMEs often face challenges in securing traditional funding sources. The current market euphoria has made it easier for these companies to attract public investment, as evidenced by a recent Delhi bike store aiming to raise Rs.12 crores but receiving applications worth over Rs.4,000 crores.

3. Visibility and Credibility: Listing on a recognized stock exchange enhances an SME’s legitimacy, leading to better business opportunities and increased customer trust.

While the trend for SME IPOs is promising, it comes with its challenges. The Indian stock market is known for its unpredictable nature, leading to significant fluctuations in share prices for newly listed companies. SME shares may not be as actively traded as those of larger corporations, raising liquidity concerns. Many investors remain unaware of these emerging opportunities, which can lead to under-subscription and reduced capital raised.


Now, let’s have a look on key factors that investors should consider before investing in SME IPOs. Investors should approach SME IPOs with caution. Investors should look beyond the hype and focus on the company's revenue, profit margins, and growth potential. Ensure that investments are not overhyped. Assess whether the pricing reflects the company’s financial health and future potential. Incorporate SME IPOs into a well-rounded investment strategy to mitigate risks associated with individual company performance.


In summary, while SME IPOs present exciting opportunities for significant returns, they also carry inherent risks. Navigating this dynamic landscape requires careful analysis and strategic planning. Investors must weigh the potential rewards against the challenges to make informed decisions. As the SME IPO segment continues to grow, understanding these dynamics will be crucial for both new and seasoned investors.


(The author is CEO and Founder, Rabbit Invest)

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