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 […]



Airtel Africa completes pre-IPO placement with six investors, rakes in $1.25 billion

November 2018

Bharti Airtel’s Africa unit has concluded the pre-initial public offering (IPO) placement of shares with six global investors, including Warburg Pincus, Temasek, Singtel and SoftBank Group International, and has raised $1.25 billion (Rs 92 billion), […]



Government planning to launch TCIL IPO during quarter ended March 2019

November 2018

The Ministry of Finance is planning to launch an IPO to sell up to a 25 per cent stake in Telecommunications Consultants India Limited (TCIL) during the January-March 2019 quarter. The move is being made […]



NTPC’s foreign bonds and masala bonds listed on NSE-IFSC

November 2018

NSE-IFSC, the National Stock Exchange’s (NSE) international exchange, has listed NTPC Limited’s foreign currency bonds and masala bonds on its debt securities market. It has raised $2,400 million, €500 million and Rs 40 billion by […]



Bhopal becomes second Madhya Pradesh city to get municipal bonds listed on NSE

November 2018

After the successful listing of bonds by the Indore Municipal Corporation, the Bhopal Municipal Corporation’s (BMC) municipal bonds were listed on the debt platform of the NSE. BMC raised nearly Rs 1.75 billion on the […]



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 […]



Central government to sanction Rs 30 billion for two road projects in Kerala soon

November 2018

The central government is likely to sanction funds worth Rs 30 billion for two road projects in Kerala soon. The first involves four-laning of the 39 km Thalapady-Chengala road stretch from km 17.2 to km […]



West Bengal government approves Rs 10.98 billion for construction of bridge over Bhagirathi river

September 2018

The West Bengal government has approved Rs 10.98 billion for the construction of a bridge over the Bhagirathi river, connecting Kalna in Burdwan with Shantipur in Nadia. The project will be carried out by the […]



Government signs loan agreement with JICA for North-East Road Network Connectivity Improvement Project, Phase III

November 2018

The Government of India has signed a loan agreement with the Japan International Cooperation Agency for procuring Rs 16.4 billion (JPY 25.48 billion) for the North-East Road Network Connectivity Improvement Project (Phase III). The tender […]



ADB to scale up smart meters project in Uttar Pradesh

November 2018

The Asian Development Bank (ADB) is planning to scale up a satellite-based smart meters project being implemented in Uttar Pradesh by Energy Efficiency Services Limited (EESL). As part of ADB’s $200 million loan to EESL […]



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) […]



Delta Airlines eyes minority stake in Jet Airways

November 2018

Delta Airlines has evinced interest in buying a 24 per cent stake in Jet Airways which is currently facing a financial crisis. In addition to buying the stake, Delta will also infuse capital into the […]



Petronet LNG, ONGC Videsh mulling stake purchase in Tellurian’s Driftwood project

November 2018

Reportedly, Petronet LNG and ONGC Videsh Limited (OVL) are jointly considering buying a stake in Tellurian, Inc.’s proposed Driftwood project in Louisiana, USA. Tellurian is offering a 60-75 per cent equity interest in Driftwood Holdings. […]



Adani to buy KEC International’s power transmission project

November 2018

KEC International Limited has signed a share purchase agreement with Adani Transmission Limited (ATL) for selling its entire stake in KEC Bikaner Sikar Transmission Private Limited (KBSTPL) at an enterprise value of Rs 2.27 billion. […]



PNGRB approves sale of East-West gas pipeline to Brookfield

November 2018

The Petroleum and Natural Gas Regulatory Board has reportedly approved the sale of the East-West Gas Pipeline to Brookfield Asset Management, Inc. East West Pipeline Limited, previously known as Reliance Gas Transportation Infrastructure Limited, built […]



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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