August 2026 saw companies across energy, infrastructure, real estate, financial services, and media take on significant debt.
HMEL and Auro Infra topped the list, followed by renewable energy player SAEL and infrastructure company Kakinada SEZ.
August 2026: Biggest Debt Raisers
HPCL-Mittal Energy Limited
- Trade Name: HMEL
- Debt Raised: ₹3,189.00 Cr
- Sector: Oil, Gas & Consumable Fuels
About the Company:
HMEL is an integrated energy company involved in refining and petrochemicals. It operates a major refinery and petrochemical complex in Bathinda, Punjab.
Auro Infra Private Limited
- Trade Name: Auro Infra
- Debt Raised: ₹3,100.00 Cr
- Sector: Real Estate Management & Development
About the Company:
Auro Infra is involved in infrastructure, engineering, real estate, and mining. The company works across several infrastructure-related businesses.
SAEL Industries Limited
- Trade Name: SAEL
- Debt Raised: ₹1,029.43 Cr
- Sector: Energy Equipment & Services
About the Company:
SAEL is a renewable energy company focused on solar power, solar module manufacturing, and agri-waste-to-energy projects.
Kakinada SEZ Limited
- Trade Name: Kakinada SEZ
- Debt Raised: ₹900.00 Cr
- Sector: Real Estate Management & Development
About the Company:
Kakinada SEZ develops industrial infrastructure in Andhra Pradesh, supporting manufacturing, logistics, and trade.
Jodhpur Vidyut Vitran Nigam Limited
- Trade Name: JVVNL
- Debt Raised: ₹730.00 Cr
- Sector: Energy Equipment & Services
About the Company:
JVVNL is a state-owned electricity distribution company serving parts of Rajasthan. Its core operations include power distribution and network management.
FS Green Energies Limited
- Trade Name: Future Solar
- Debt Raised: ₹500.00 Cr
- Sector: Energy Equipment & Services
About the Company:
FS Green Energies operates under the Future Solar brand and focuses on solar and renewable energy solutions.
Haldia Petrochemicals Limited
- Trade Name: Haldia Petrochemicals
- Debt Raised: ₹400.00 Cr
- Sector: Oil, Gas & Consumable Fuels
About the Company:
Haldia Petrochemicals manufactures petrochemical products and polymers used across a range of industries.
Sugee Developers Private Limited
- Trade Name: Sugee Developers
- Debt Raised: ₹379.65 Cr
- Sector: Real Estate Management & Development
About the Company:
Sugee Developers is a Mumbai-based real estate company focused on residential development and redevelopment projects.
Dharma Productions Private Limited
- Trade Name: Dharma Productions
- Debt Raised: ₹310.00 Cr
- Sector: Media & Entertainment
About the Company:
Dharma Productions is an entertainment company involved in film production and distribution, with a strong presence in Hindi cinema.
IKF Finance Limited
- Trade Name: IKF Finance
- Debt Raised: ₹301.46 Cr
- Sector: Diversified Financial Services
About the Company:
IKF Finance is a non-banking financial company that provides loans and financing solutions to individuals and businesses.
Conclusion
Energy and infrastructure companies dominated August 2026’s biggest debt raises. HMEL and Auro Infra led the list, while SAEL and Future Solar highlighted the growing role of renewable energy financing.
The list also included companies from real estate, power distribution, petrochemicals, media, and financial services, showing that debt financing remained active across a wide range of industries.
Overall, August 2026’s debt activity reflects the continued use of debt capital to fund infrastructure, energy, real estate, and business expansion across India.
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