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 […]



Antony Waste IPO subscribed 15 times on final day

January 2021

Antony Waste Handling Cell Limited’s initial public offering (IPO) has received a strong response, with demand across all investor categories. The offering of 6.67 million shares, excluding the anchor investors’ portion, received bids for 100.27 […]



IndiGrid acquires 100 MW solar assets of FRV in Rs 6.6 billion deal

January 2021

IndiGrid has acquired the solar portfolio of Madrid-based Fotowatio Renewable Ventures (FRV) in a deal worth Rs 6.6 billion (nearly $90 million) at current exchange rates. IndiGrid has signed a purchase agreement with FRV Solar […]



Sterlite Power raises Rs 2 billion debt from Allianz Global Investors

January 2021

Sterlite Power has raised Rs 2 billion in debt financing from Allianz Global Investors. The amount has been raised as a non-convertible debenture with a three-year tenor and is part of the larger refinancing exercise […]



Power Finance Corporation plans retail bonds worth $1.4 billion

January 2021

Power Finance Corporation Limited (PFC) is planning to sell bonds worth $1.4 billion to individual investors. According to PFC’s draft prospectus, it plans to raise the entire amount in this quarter. The planned offering will […]



Insolvency and Bankruptcy Code suspension extended till March 31, 2021

January 2021

The suspension of the Insolvency and Bankruptcy Code (IBC) has been extended for another three months, till March 31, 2021. This will help businesses cope with the economic disruptions caused by the coronavirus pandemic and […]



ADB approves loan worth $231 million for Lower Kopili hydroelectric project

January 2021

The Asian Development Bank (ADB) has approved a $231 million loan for setting up the 120 MW Lower Kopili hydroelectric project (HEP) in Assam. The project will double the hydropower generation capacity of Assam Power […]



PFC sanctions Rs 27.9 billion to JKPCLto clear outstanding dues

November 2020

The Power Finance Corporation (PFC) has sanctioned Rs 27.9 billion to Jammu & Kashmir Power Corporation Limited (JKPCL) for clearing its outstanding dues. PFC and JKPCL signed and exchanged an agreement for the Liquidity Infusion […]



KIIFB releases funds worth Rs 3.2 billion for Kasaragod-Thiruvananthapuram road project

January 2020

The Kerala Infrastructure Investment Fund Board (KIIFB) has released funds worth Rs 3.2 billion as the first instalment to the National Highways Authority of India (NHAI) for acquisition of land for the Kasaragod-Thiruvananthapuram highway project. […]



PNC Infratech achieves financial closure for three HAM projects

January 2021

PNC Infratech Limited has submitted financial documents to the National Highways Authority of India (NHAI) for three HAM projects – PNC Unnao Highways Private Limited, PNC Gomti Highways Private Limited and PNC Bithur Kanpur Highways […]



DME Development Limited to raise Rs 460 billion debt in two to three years

January 2021

DME Development Limited, a special purpose vehicle (SPV) fully owned by NHAI, is planning to raise Rs 460 billion in debt over the next two to three years to part finance the Delhi-Mumbai expressway project. […]



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 […]



IndiGrid acquires 100 MW solar assets of FRV in Rs 6.6 billion deal

January 2021

IndiGrid has acquired the solar portfolio of Madrid-based Fotowatio Renewable Ventures (FRV) in a deal worth Rs 6.6 billion (nearly $90 million) at current exchange rates. IndiGrid has signed a purchase agreement with FRV Solar […]



RInfra completes stake sale of entire shareholding in PKTCL to IndiGrid

January 2021

Reliance Infrastructure Limited (RInfra) has completed the sale of its entire 74 per cent equity stake in Parbati Koldam Transmission Company Limited (PKTCL) to the India Grid Trust (IndiGrid) for an enterprise value of Rs […]



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) […]



NIIF leads $390 million deal for CDC’s renewable energy platform

January 2021

NIIF is leading a $390 million (Rs 28.7 billion) funding round in Ayana Renewable Power. The proposed transaction will make NIIF, which will invest $284 million, a majority shareholder in Ayana. The CDC Group, the […]



NIIF marks final close of master fund, rolls out new vehicle

January 2021

National Investment and Infrastructure Fund Limited (NIIF) has marked the final close of its NIIF Master Fund at $2.34 billion (Rs 172.93 billion) after receiving commitments from the fifth set of limited partners. Canadian pension […]



BPCL to buy balance stake in Bharat Oman Refineries

January 2021

Bharat Petroleum Corporation Limited  (BPCL) will acquire a 36.62 per cent stake in Bharat Oman Refineries Limited (BORL) from OQ S.A.0.C. (formerly Oman Oil Company S.A.O.C.). This would amount to 888 million equity shares. Currently, […]



NHPC signs definitive agreement for implementation of resolution plan for takeover of Jalpower Corporation

January 2021

NHPC has signed a definitive agreement for the implementation of the approved resolution plan for the takeover of Jalpower Corporation Limited (JPCL), which implemented the 120 MW Rangit Stage IV HEP in Sikkim. The NCLT, […]



Interups Inc. to invest $9 billion in India’s avaiation sector

January 2021

The US-based-based firm Interups Inc. is planning to invest $9 billion in India’s aviation sector over the next five years. Interups’ bid includes an InvIT structure that will subsume the airline’s revenue generating arms, separated […]



Government weighs Rs 100 billion rescue plan for the aviation sector after coronavirus

April 2020

According to sources, the Ministry of Finance is mulling over a proposal that includes temporary suspension of most of the taxes levied on the aviation sector, including a deferment of the aviation fuel tax. The […]



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