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 […]



ITI Limited receives go ahead from SEBI to float FPO

February 2019

Indian Telephone Industries [ITI] Limited has received approval from SEBI to float a follow-on public offer (FPO). This move will help ITI Limited in meeting the minimum 25 per cent public shareholding norm. ITI had […]



IndiGrid to launch Rs 30 billion QIP soon

January 2019

The India Grid Trust (IndiGrid) will launch its Rs 30 billion qualified institutional placement (QIP) soon. The fundraising will help the infrastructure investment trust acquire new assets in the power transmission space. The process is […]



AP Power Finance Corporation to raise Rs 50 billion through bonds

February 2019

The Andhra Pradesh Power Finance Corporation (APPFC) is in the process of raising Rs 50 billion through bonds after permission from the state government. APPFC has decided to raise funds by issuing redeemable non-convertible power […]



OIL raises $550 million via overseas bonds

February 2019

Oil India Limited has raised debt of $550 million by means of an overseas bond issue. The bond issue carries a 5.12 per cent fixed rate and has a 10-year tenor. The bonds are listed […]



RBI allows bidders for stressed assets to borrow overseas

February 2019

The Reserve Bank of India (RBI) has allowed bidders of insolvent companies to raise external commercial borrowings (ECBs) and use the proceeds to repay the rupee loans of the insolvent companies they are keen on […]



RBI eases ECB norms, lifts sectoral limits

February 2019

RBI has drawn up a new ECB framework allowing all eligible borrowers to raise up to $750 million per financial year under the automatic route, replacing the existing sector-wise limits. The central bank has also […]



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 […]



MoRTH releases Rs 1.93 billion for two sections of India-Myanmar-Thailand trilateral highway

January 2019

The Ministry of Road Transport and Highways (MoRTH) has released Rs 1.93 billion for two sections of the India-Myanmar-Thailand trilateral highway. For the 120.74 km Kalewa-Yagyi road section, it has released Rs 1.88 billion of […]



Centre signs Rs 24.7 billion loan agreement with JICA for Chennai Peripheral Ring Road project

February 2019

The central government has signed a Rs 24.7 billion loan agreement with the Japan International Cooperation Agency (JICA) for the Chennai Peripheral Ring Road project. The ring road, spanning a total length of 133.65 km, […]



Consortium of banks led by SBI agree to finance Nagpur-Mumbai expressway

February 2019

A consortium of banks led by the State Bank of India (SBI) has agreed to provide Rs 220 billion (of the Rs 260 billion required) for construction of the Nagpur-Mumbai Expressway. SBI will provide the […]



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) […]



CCI gives nod to PFC’s acquisition of 52 per cent stake in REC

February 2019

The Power Finance Corporation’s (PFC) plan to buy a 52 per cent stake in the Rural Electrification Corporation (REC) has been approved by the Competition Commission of India (CCI). The government is expected to acquire […]



Jet Airways signs MoU with SBI, seeks government nod for open offer exemption

February 2019

SBI has signed an MoU with cash-strapped Jet Airways to convert its outstanding debt to equity. According to reports, SBI will hold about 15 per cent equity stake in the airline (based on the value […]



Airtel Kenya signs pact to merge business with Telkom Kenya

February 2019

Bharti Airtel’s subsidiary Airtel Networks Kenya Limited has signed an agreement with Telkom Kenya Limited to merge their mobile, enterprise and carrier services businesses in Kenya and establish a new entity, Airtel-Telkom, with enhanced scale […]



Cube Highways to acquire road projects owned by KNR Constructions Limited

February 2019

KNR Constructions Limited has entered into a share purchase agreement with Cube Highways and Infrastructure III Private Limited for KNR Tirumala Infra Private Limited and KNR Chidambaram Infra Private Limited, pursuant to which the company […]



Aditya Birla ARC inks stressed assets deal with RattanIndia Power

February 2019

Aditya Birla Asset Reconstruction Company [ARC] Limited has agreed to acquire part of the debt that RattanIndia Power Limited owes its lenders for a 1,350 MW thermal power plant in Amaravati. The deal is part […]



RCOM decides to file for insolvency; plans to come out with debt resolution plan

February 2019

Reliance Communications (RCOM) has decided to file for insolvency as its lenders have received zero proceeds from its proposed asset monetisation plans even after a period of 18 months. The move comes after RCOM’s asset […]



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