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 […]



Shreyas Shipping associate Avana Logistek files for IPO

July 2018

Avana Logistek Limited, a Mumbai-based logistics company, has filed a draft red herring prospectus with SEBI for an IPO. The IPO will comprise a fresh issue of shares for up to Rs 3 billion ($44 […]



IRFC, IRCON may hit capital market by September to raise Rs 15 billion

July 2018

Two rail public sector undertakings – the Indian Railway Finance Corporation (IRFC) and IRCON International Limited – are likely to launch IPOs in the next two months. The entities will raise Rs 15 billion in […]



Indore Municipal Corporation issues bonds for works under AMRUT

July 2018

The Indore Municipal Corporation has issued Rs 1.7 billion worth of bonds to finance various development works in the city under AMRUT. The public issues of these bonds were listed on the National Stock Exchange. […]



Surat Municipal Corporation to issue bonds for water supply scheme

July 2018

The Surat Municipal Corporation (SMC) in Gujarat plans to raise funds to the tune of Rs 2 billion through bonds for the 24×7 water supply scheme. SMC plans to issue bonds within the next five […]



SEBI eases IPO norms, tightens definition of promoter group

July 2018

The Securities and Exchange Board of India (SEBI) has eased disclosure norms for initial public offerings (IPOs) and tightened the definition of “promoter group” to prevent fraudulent transactions. As per the new guidelines, IPO issuers […]



Government considering lowering approval threshold for resolution under IBC

February 2018

The government is considering lowering the approval threshold for resolution plans under the Insolvency and Bankruptcy Code in a move aimed at preventing too many insolvent companies from going into liquidation. At present, more than […]



Tamil Nadu government sanctions Rs 41.8 million for Thirukattupalli bypass project

July 2018

The Tamil Nadu government has sanctioned funds worth Rs 41.8 million to facilitate land acquisition for the Thirukattupalli bypass project. The project involves the construction of a 3.2 km bypass road from the Thogur-Ayyampettai road […]



MoRTH sanctions Rs 55 billion for regional ring road in Hyderabad

May 2018

The Ministry of Road Transport and Highways (MoRTH) has sanctioned Rs 55 billion for the 363 km regional ring road in Hyderabad. In addition, Rs 17 billion has been sanctioned for Telangana under the Central […]



ADB to provide Rs 55.98 billion loan to Punjab for urban development projects

July 2018

ADB has given in-principle approval for a Rs 55.98 billion loan at a nominal interest rate to Punjab for various urban development projects such as the revival of sewage treatment plants under the Smart Cities […]



World Bank approves $250 million development policy loan to Rajasthan

July 2018

The World Bank has approved a $250 million development policy loan for the improvement of the electricity distribution sector under the Power for All scheme in Rajasthan. The state government will receive the loan under […]



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 […]



Indian Bank raises Rs 20 billion via bonds for infrastructure, affordable home loans

October 2017

Public sector lender Indian Bank has raised Rs 20 billion through the issue of long-term bonds to finance infrastructure and affordable housing. The amount raised is part of the bank’s Rs 50 billion fundraising plan […]



SEBI unveils norms to let InvITs raise capital via preferential issues

June 2018

The Securities and Exchange Board of India (SEBI) has introduced guidelines that allow listed infrastructure investment trusts (InvITs) to raise capital by way of preferential allotment to institutional investors. InvITs can now allot units to […]



CPPIB and ACP to act as anchor investors in IndInfravit Trust

May 2018

The Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners (ACP) will act as anchor investors in the IndInfravit Trust, sponsored by L&T Infrastructure Development Projects Limited (L&T IDPL). CPPIB will invest approximately CAD […]



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) […]



Sagarmala Development Company to infuse Rs 1.25 billion in KRCL

July 2018

Sagarmala Development Company Limited (SDCL) has decided to infuse Rs 1.25 billion in SPV Krishnapatnam Railway Company Limited (KRCL), formed to provide rail connectivity between Krishnapatnam port and Obulavaripalle in Andhra Pradesh. The total cost […]



Temasek increases stake in Adani Ports and Special Economic Zone Limited

July 2018

Temasek Holdings Private Limited, a Singapore-based investment firm, has increased its stake in Adani Ports and Special Economic Zone Limited (APSEZL) from 1 per cent to 2.3 per cent by acquiring 27.05 million shares. The […]



Indus Towers-Bharti Infratel merger receives CCI nod

July 2018

Bharti Infratel has received approval of the Competition Commission of India for its proposed merger with Indus Towers Limited. Earlier, in April 2018, Bharti Airtel, Idea Cellular and the Vodafone Group had announced an agreement […]



Adani Transmission acquires 100 per cent equity in Ghatampur SPV

July 2018

REC Transmission Projects Company Limited (RECTPCL) has transferred 100 per cent shares of SPV Ghatampur Transmission Limited to Adani Transmission Limited (ATL). ATL received the letter of intent for the implementation of the project on […]



Everstone-Lightsource BP to set up £500 million energy platform, NIIF among key backers

May 2018

Private equity (PE) firm Everstone Group has formed an equal JV with British solar power company Lightsource BP to set up a £500 million ($710 million or Rs 46.73 billion) India-focused green energy fund. The […]



IIFCL to fund iconic but unviable projects, discussions underway for restructuring

May 2018

The Ministry of Finance is set to revamp the operations of India Infrastructure Finance Company Limited (IIFCL) with the government tasking it with funding projects of social and national importance. Apart from its current role […]



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