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 […]



Seven Islands Shipping gets SEBI nod for IPO

December 2017

Reportedly, Seven Islands Shipping Limited has received a nod from the Securities and Exchange Board of India (SEBI) to invite an IPO. The company filed its draft prospectus with SEBI on September 29, 2017. According […]



Future Supply Chain Solutions IPO fully subscribed

December 2017

The initial public offering (IPO) by Future Supply Chain Solutions was fully subscribed on the final day of the bidding process.  By 5 p.m., the issue received bids for 22.84 million shares, which was 3.34 […]



GHMC plans to raise Rs 10 billion through bonds

December 2017

The Greater Hyderabad Municipal Corporation (GHMC) plans to raise Rs 10 billion through the issuance of bonds for funding the Strategic Road Development Plan (SRDP). The Telangana government has approved GHMC’s proposal to raise funds […]



EPFO grants Rs 50 billion to NHAI for Bharatmala programme

December 2017

NHAI has borrowed Rs 50 billion from the Employees’ Provident Fund Organisation by selling long-tenor bonds to finance the government’s Bharatmala programme. NHAI has sold corporate bonds with a coupon rate of 7.64 per cent […]



President nod to ordinance to amend Insolvency and Bankruptcy Code, 2016

December 2017

An ordinance amending the Insolvency and Bankruptcy Code [IBC], 2016, has been passed to help prevent defaulters from bidding for their assets during resolution proceedings and regaining control. The ordinance aims to put safeguards in […]



Government clears Rs 2.11 trillion bank recapitalisation plan

November 2017

The central government has unveiled a plan for support of Rs 2.11 trillion for public sector banks in order to spur genuine infrastructure lending for upcoming mega projects. Bad loans and stressed assets in the […]



Odisha government allocates over Rs 4 billion for water supply and sanitation works

December 2017

The Odisha government has, under its supplementary budgetary provisions, allocated Rs 1.11 billion for urban water supply under the Buxi Jagabandhu Assured Water Supply to Habitations scheme, Rs 1.09 billion for urban sanitation and Rs […]



Central government approves Rs 15 billion for Pune Ring Road Project

December 2017

The central government has approved funds worth Rs 15 billion for the implementation of the Pune Ring Road Project in Maharashtra. The project involves the construction of a 129 km ring road, which will be […]



ADB approves $583 million loan facility to Reliance Power project

December 2017

ADB has approved a loan package of $583 million for developing Reliance Power Limited’s liquefied natural gas (LNG) terminal along with a 750 MW power project in Bangladesh. The package includes loans and partial risk […]



REC to provide Rs 140 billion loan for 2,400 MW Patratu power plant

December 2017

The Rural Electrification Corporation (REC) and Patratu Vidyut Utpadan Nigam Limited, a subsidiary of NTPC Limited, have signed a loan agreement worth Rs 140 billion for setting up Phase I of the 2,400 MW Patratu […]



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 […]



Reliance Infrastructure gets SEBI nod for Rs 25 billion InvIT IPO

June 2017

Reliance Infrastructure InvIT Fund has got the final nod from the Securities and Exchange Board of India (SEBI) to float its proposed initial public offering (IPO). The proposed issue size is Rs 25 billion, with […]



Government exempts InvITs from acceptance of deposit norms

June 2017

The Ministry of Corporate Affairs has exempted infrastructure investment trusts (InvITs) from the ambit of the acceptance of deposit rules under the Companies (Acceptance of Deposits) Rules, 2014, a move that is expected to ease […]



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) […]



Five companies vying for stake in Dahej Port

December 2017

Reportedly, five companies have submitted expression of interest bids for acquiring a stake in the Dahej greenfield port project. The companies are JSW Infrastructure Limited, IMC Limited, Essar Ports Limited, Shapoorji Pallonji & Company Limited […]



Petronet drops plans to buy stake in GSPC’s Mundra LNG plant

December 2017

Petronet LNG Limited (PLL) has dropped its plans to buy a 25 per cent stake in Gujarat State Petroleum Corporation’s (GSPC) Mundra LNG import terminal in Gujarat, in order to allow its promoter Indian Oil […]



RCOM’s lenders clear the sale of its real estate assets to Brookfield for Rs 8.01 billion

December 2017

RCOM’s lenders have approved the sale of its real estate assets in Delhi and Chennai to Canada-based asset management firm Brookfield for Rs 8.01 billion. The proceeds from the asset sale will be used by […]



ReNew Power to acquire KC Thapar’s wind assets for Rs 10 billion

December 2017

ReNew Power Ventures Private Limited will acquire the wind power assets of the KC Thapar Group for Rs 10 billion. In one of the biggest deals in the renewable energy sector in 2017-18 so far, […]



Government sets up panel to address NPAs in the power sector

December 2017

The central government has set up a panel to tackle the problem of stressed power assets in the country. The committee is headed by Amitabh Kant, NITI Aayog, and comprises secretaries of the Ministry of […]



IFC, HDFC to create $800 million affordable housing fund

December 2017

The International Finance Corporation has partnered with the Housing Development Finance Corporation (HDFC) to create an $800 million fund to finance the construction of affordable houses. To create this fund, IFC will pump in $200 […]



GET FREE ACCESS TO OUR ARTICLES

Enter your email address