RCOM to convert Rs 70 billion debt to equity as per new debt restructuring plan

November 2017

Reliance Communications (RCOM) has presented a fresh plan to recast its Rs 450 billion debt. The plan includes converting Rs 70 billion of debt into equity by banks and handing over the majority stake to […]



SPML Infra Limited invokes S4A

November 2017

SPML Infra Limited has implemented the Scheme for Sustainable Structuring of Stressed Assets for converting Rs 5.46 billion of its Rs 11.17 billion debt into optionally convertible debentures (OCDs). The OCDs have a tenor of […]



SBI may partner LIC, IIFCL for credit enhancement fund

September 2016

The State Bank of India (SBI) may partner with the Life Insurance Corporation of India (LIC) and India Infrastructure Finance Company Limited (IIFCL) to set up a credit enhancement fund that will provide guarantees to […]



Powergrid plans to issue bonds for raising up to Rs 40 billion by September 2016

September 2016

Powergrid Corporation of India Limited plans to raise up to Rs 40 billion through domestic bonds by September 2016. The funds will be utilised to meet the company’s working capital expenditure. This would be the […]



DIPAM to appoint legal advisors to steer the IPOs of TCIL and WAPCOS

January 2020

The Department of Investment and Public Asset Management (DIPAM) is likely to appoint legal advisers for Telecommunications Consultants India Limited (TCIL) and WAPCOS soon, to steer their initial public offering (IPO) process. As per industry […]



Airtel Africa planning to raise $37.5 million through Airtel Malawi IPO

January 2020

Airtel Africa is planning to raise about $37.5 million (27.92 billion Malawian kwacha [MK]) through Airtel Malawi’s IPO. The company, which is a subsidiary of India-based Bharti Airtel, has set the price of the IPO […]



Airtel launches QIPs and FCCB for $3 billion fundraiser to clear AGR dues

January 2020

Bharti Airtel has begun its $3 billion fundraising exercise by launching qualified institutional placement (QIP) and foreign currency convertible bond (FCCB) issues worth $2 billion and $1 billion respectively. Airtel’s board has fixed the floor […]



MTNL seeks shareholder approval to raise funds, monetise land and holdings

December 2019

Mahanagar Telephone Nigam Limited (MTNL) is planning to seek shareholder approval for monetisation of land and buildings and raising up to Rs 65 billion through non-convertible debentures (NCDs). The company will seek shareholder approval for […]



Government rolls out Rs 102-trillion blueprint for infrastructure development

February 2020

The centre has unveiled Rs 102 trillion worth of infrastructure projects that will be implemented in the next five years as part of the government’s spending push in the infrastructure sector. The government has announced […]



SEBI tightens disclosure norms for municipal bonds

November 2019

The Securities and Exchange Board of India has prescribed wider disclosure and compliance norms to be followed by the issuers of listed municipal bonds. Such listed entities are required to prepare and submit half-yearly unaudited […]



KIIFB releases funds worth Rs 3.2 billion for Kasaragod-Thiruvananthapuram road project

January 2020

The Kerala Infrastructure Investment Fund Board (KIIFB) has released funds worth Rs 3.2 billion as the first instalment to the National Highways Authority of India (NHAI) for acquisition of land for the Kasaragod-Thiruvananthapuram highway project. […]



Uttar Pradesh government sanctions Rs 16.6 billion for two expressway projects

January 2020

The Uttar Pradesh government has sanctioned funds worth Rs 2 billion and Rs 14.6 billion for the Bundelkhand six-lane expressway project and the Purvanchal expressway project, respectively, in its second supplementary budget announced on December […]



GHMC gets Rs 25 billion loan for SRDP

January 2020

The State Bank of India (SBI) has sanctioned a Rs 25 billion term loan to the Greater Hyderabad Municipal Corporation (GHMC), under the Strategic Road Development Plan (SRDP). The loan is payable over 15 years […]



Centre signs $490 million loan agreement with ADB to upgrade roads in Madhya Pradesh

January 2020

The Asian Development Bank (ADB) and the central government have signed a $490 million loan for the public-private partnership (PPP) project to upgrade about 1,600 km of state highways and major district roads from single […]



GMR unit raises $300 million via bonds for airport expansion

April 2019

GMR Hyderabad International Airport Limited, a GMR Group company, has raised $300 million from the overseas bond market to take up expansion works at the Rajiv Gandhi International Airport. In this regard, a purchase agreement […]



Renewables player Mytrah raises Rs 18 billion from Piramal via NCDs

October 2017

Hyderabad-based Mytrah Energy Limited has raised Rs 18 billion from the Piramal Group’s financial services companies in the form of non-convertible debentures (NCDs). The NCDs, carrying a tenor of seven years, will be invested in […]



L&T’s IndInfravit allots Rs 188.9 million units to investors

February 2020

As part of the monetisation of Sadbhav Infrastructure Project Limited’s nine operational road projects to L&T-run IndInfravit Trust, the InvIT has allotted 188.9 million units at a price of Rs 1.17 per unit to certain […]



NHAI plans to raise Rs 400 billion through InvIT

January 2020

NHAI is planning to raise about Rs 400 billion through monetisation of its highway assets through an InvIT. Besides, the authority has identified a number of completed road projects valued at about Rs 600 billion […]



Cochin Shipyard Limited’s IPO to be managed by SBI Capital Markets-led consortium

July 2016

Cochin Shipyard Limited has hired a consortium of merchant bankers led by SBI Capital Markets Limited to manage its IPO. The other members of the consortium are JM Financial Institutional Securities Limited and Edelweiss Financial […]



Mahanagar Gas shares listed on bourses

July 2016

Mahanagar Gas Limited (MGL) is listed on the exchanges at Rs 540 per share, up 28 per cent from its issue price of Rs 421 per share. The country’s second largest compressed natural gas (CNG) […]



JSW Energy to pick up stake in Jaiprakash Power Ventures in debt recast deal

January 2020

JSW Energy Limited has entered into an agreement with Jaiprakash Power Ventures Limited (JPVL) to restructure the principal outstanding amount of Rs 7.52 billion owed by the latter. Under key terms of the agreement, an […]



Fairfax monetising its bet on Bangalore airport with $134 million deal

January 2020

Fairfax India Holdings Corporation is trimming its stake in Bangalore International Airport Limited (BIAL), as the investment vehicle monetises a bet it first made less than four years ago. Fairfax India will reduce its stake […]



IRB Infrastructure Developers gets NOC from NHAI for transfer of nine BOT assets

January 2020

IRB Infrastructure Developers Limited has received an NOC from NHAI for transfer of nine build-operate-transfer (BOT) assets to IRB Infrastructure Trust and the subsequent investment by GIC affiliates for a 49 per cent stake in […]



KNR Constructions Limited to sell BOT asset to Cube Highways

January 2020

KNR Constructions Limited has entered into a share purchase agreement dated January 9, 2020 with Cube Highways and Infrastructure III Private Limited to sell its entire equity stake in the toll road BOT asset KNR […]



NCLT orders liquidation of Essar Power Jharkhand Limited

January 2020

The NCLT has ordered the liquidation of Essar Power Jharkhand Limited (EPJL) after the sole bidder for the company refused to furnish a performance bank guarantee after bidding for the power plant. EPJL had planned […]



NCLT orders insolvency process at Air Costa

December 2019

The National Company Law Tribunal (NCLT) has ordered the commencement of the corporate insolvency resolution process for the grounded South Indian low-cost air carrier Air Costa. The airline is the second private airline after Jet […]



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