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 […]



Adani Green Energy promoters to sell stake worth Rs 4.02 billion via an offer for sale

June 2019

The promoters of AGEL will sell a 5.98 per cent stake in the company through an offer for sale. The stake sales are being planned to bring down the promoter shareholding in the company to […]



Airtel Africa seeks to raise at least $750 million via London listing

June 2019

Bharti Airtel Limited will raise $750 million (about Rs 52 billion) by selling shares of its Africa unit via an initial public offering (IPO) and list them on the London Stock Exchange. In case of […]



PFC raises $1 billion through international bond issue

June 2019

The Power Finance Corporation (PFC) has raised $1 billion through Reg-S bonds in the international market. The transaction was executed in two tranches – a five-year tranche for $400 million at 3.87 per cent at […]



Adani Green Energy first to issue $500 million green bonds on India INX

June 2019

Adani Green Energy Limited (AGEL), through its three subsidiaries, has issued and listed green bonds raising $500 million. This is the first issuance by a private non-banking company on the Global Securities Market (GSM). The […]



RBI eases stressed assets norms

June 2019

The Reserve Bank of India (RBI) has allowed lenders in its revised guidelines for stressed assets complete discretion to design and implement bankruptcy resolution plans, after the Supreme Court scrapped the previous norms. The central […]



RBI allows foreign investors to buy municipal bonds

May 2019

The Reserve Bank of India has allowed foreign portfolio investors (FPIs) to invest in municipal bonds issued by various urban local bodies. This will broaden the access of non-resident investors to debt instruments in the […]



Tamil Nadu government seeks sanction of Rs 53.98 billion funds for water supply projects

June 2019

The Tamil Nadu government has sought funds worth Rs 53.98 billion from the central government for the implementation of various water supply projects in Tamil Nadu. The proposed projects include the development of a 100 […]



Gujarat government approves Rs 5.96 billion grant to municipalities for infrastructure works

March 2019

The Gujarat government has approved a grant of Rs 5.96 billion to 18 municipalities and six municipal corporations for various infrastructure and development works. The state administration has approved Rs 1.53 billion for water supply […]



AFD to provide grant of Rs 54.97 billion to IRSDC for development of railway stations

June 2019

The Indian Railway Station Development Corporation (IRSDC) has entered into a tripartite agreement with the French National Railway Company (SNCF) and French Development Agency (AFD) to provide a grant for the development of railway stations. […]



ADB approves $350 million loan for rehabilitation and upgradation of roads in Chhattisgarh

June 2019

The Asian Development Bank (ADB) has approved a loan of $350 million for the rehabilitation and upgradation of roads in Chhattisgarh. The project involves the rehabilitation/upgradation of two state highways and 23 major district roads […]



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 […]



Airtel and VIL in talks to turn fibre JV into InvIT

June 2019

In a bid to attract long-term investors, Bharti Airtel and Vodafone Idea Limited (VIL) are planning to turn their proposed optic fibre network joint venture (JV) into an infrastructure investment trust (InvIT). Under the planned […]



Global investors invest in Oriental Structural Engineers‘ InvIT

June 2019

A group of global investors including Beijing-based Asian Infrastructure Investment Bank, Germany’s Deutsche Investitions-und Entwicklungsgesellschaft, the International Finance Corporation and India’s HEG Group have invested in an InvIT formed by Oriental Structural Engineers Private Limited […]



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) […]



Mitsui and Company acquires 49 per cent equity stake in Marvel Solren

June 2019

Japan-based Mitsui and Company Limited has acquired a 49 per cent equity stake in Marvel Solren Private Limited from Mahindra Susten. The remaining equity (51 per cent) will continue to be held by Mahindra Susten. […]



Greenko raises $495 million to invest in 2.4 GW of energy storage projects

June 2019

The General Insurance Corporation (GIC) and the Abu Dhabi Investment Authority (ADIA) have signed an agreement to invest $495 million as primary equity in Greenko Energy Holdings, a renewable energy project developer. The investment will […]



Edelweiss to acquire two road assets from Navayuga Group

June 2019

Edelweiss Infrastructure Yield Plus Fund (EIYPF) will acquire two road assets from the Navayuga Group for $150 million. Both the road assets under consideration are located in Assam. These were developed through the build-operate-transfer (BOT) […]



NCLT and VIL shareholders grant approval for transfer of fibre assets to subsidiary

June 2019

The National Company Law Tribunal (NCLT) has granted approval to VIL to hive off its fibre assets to its wholly owned subsidiary Vodafone Towers Limited. The operator had approached the NCLT Ahmedabad bench on April […]



PTC Financial Services partners with UKCI, DFID for India’s first green debt fund

March 2019

PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and the Department for International Development (DFID), UK. The […]



Jet Airways’ board approves resolution plan

March 2019

The Jet Airways’ board approved a resolution plan for the cash-strapped airline on February 14, 2019, to meet a funding gap of Rs 85 billion through a mix of equity infusion, converting debt into equity, […]



GET ACCESS TO OUR ARTICLES

Enter your email address