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 […]



Thermal power generation firm Bajaj Energy files for IPO

April 2019

Bajaj Energy Limited (BEL) has filed the draft red herring prospectus for an IPO with SEBI to raise Rs 54.5 billion. BEL plans to use the IPO proceeds to acquire Lalitpur Power Generation Company Limited’s […]



EPC firm Annai Infra files for IPO

April 2019

Annai Infra Developers Private Limited has filed a draft prospectus with the Securities and Exchange Board of India (SEBI) for an IPO. The IPO is a fresh sale of 10 million shares by the company, […]



IRFC raises $500 million via overseas bond issue

April 2019

The Indian Railway Finance Corporation (IRFC) has raised $500 million via overseas bonds as part of its fundraising activity. The bonds were oversubscribed by three times and carry an interest rate of 2.23 per cent […]



BIAL raises Rs 102 billion via syndicated loans

April 2019

Bengaluru International Airport Limited has raised a syndicated loan amounting to Rs 102 billion from the State Bank of India (SBI) and Axis Bank for taking up expansion works at the airport. The airport authority, […]



SC quashes RBI’s February 12, 2018 circular

April 2019

The Supreme Court of India has quashed the February 12, 2018, circular for the resolution of stressed assets issued by the Reserve Bank of India (RBI) that had been challenged by various power companies. The […]



RBI lifts cap on FPI investments in corporate bonds

March 2019

The Reserve Bank of India (RBI) has withdrawn the 20 per cent limit on investments by foreign portfolio investors (FPIs) in corporate bonds of an entity with a view to encouraging more foreign investments.The Securities […]



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 […]



Karnataka government allocates Rs 100 billion for SHDP under state budget 2019-20

February 2019

The Karnataka government has allocated Rs 100 billion for development of 7,940 km of roads under the State Highway Development Project as part of the state budget 2019-20. Further, works for improvement and upgradation of […]



BoB ties up with KfW to fund solar power projects

March 2019

The Bank of Baroda has tied up with KfW Development Bank for providing funds worth Rs 8,030.34 million to refinance solar power projects under the Solar Partnership II – Promotion of Solar PV in India. […]



Renew Power receives additional debt financing for wind and solar power plants

March 2019

ReNew Power Limited has received additional debt financing of about Rs 24,914.93 million from the Overseas Private Investment Corporation (OPIC) for construction of new wind and solar power plants in India. The development follows an […]



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 […]



Reliance Jio transfers controlling stake in fibre and tower units to RIIHL trusts

April 2019

Reliance Jio has transferred control of its fibre unit, Jio Digital Fibre Private Limited (JDFPL), and tower unit, Reliance Jio Infratel Private Limited (RJIPL), to two infrastructure investment trusts (InvITs) – the Digital Fibre Infrastructure […]



Canada pension fund OMERS invests $122 million in CPPIB-backed L&T InvIT

March 2019

OMERS Infrastructure Management, Inc. has acquired a 22.4 per cent interest in the infrastructure investment trust (InvIT) of L&T Infrastructure Development Projects Limited for Rs 8.7 billion ($122 million). This is OMERS’ first investment in […]



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) […]



Avaada Energy raises Rs 10 billion from ADB, Germany’s DEG and Netherlands’ FMO

April 2019

Avaada Energy Private Limited (AEPL) has secured financing of about Rs 10 billion ($143.8 million) in the form of equity infusion from the Asian Development Bank (ADB), Germany-based DEG, the Netherlands Development Finance Company (FMO), […]



SoftBank Vision Fund leads $413 million investment in Delhivery

April 2019

Gurugram-based logistics company Delhivery has raised $413 million (Rs 28.9 billion) in a funding round led by the SoftBank Vision Fund. Private equity firms Carlyle and China’s Fosun International invested in this round. Delhivery has […]



GVK and partners agree to settle Mumbai Airport stake issue

April 2019

GVK Infrastructure Limited and its partners – Airports Company South Africa and Bidvest Services – have decided to resolve the issue of selling stake in Mumbai International Airport Limited. Disputes emerged after GVK opposed plans […]



Piramal Group, Atlantis and Canadian pension funds enter final bidding round for acquiring HC1

April 2019

Reportedly, the Piramal Group, Italian road operator Atlantis, and Canadian pension funds Canada Pension Plan Investment Board and Caisse de Depot et Placement du Quebec have entered the final bidding round for acquiring Highway Concessions […]



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, […]



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