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 Handling scraps IPO due to weak demand

April 2020

  Antony Waste Handling Cell Limited, the first waste management services company in India to float an IPO, has withdrawn the public issue as it failed to secure enough subscriptions. Previously, the firm had extended […]



IRFC IPO postponed amid coronavirus pandemic

April 2020

The initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC), the fund-mobilising arm of the railways, has been delayed against the backdrop of the ongoing coronavirus pandemic. IRFC was supposed to be listed […]



APSEZL plans to raise $1 billion to repay KPCL debt in July 2020

July 2020

Adani Ports and Special Economic Zone Limited (APSEZL) is set to raise about $1 billion in overseas bonds with a maturity of up to 30 years in the first long-term issuance by an Indian company […]



IRFC, BPCL cumulatively raise Rs 50 billion via corporate bonds

July 2020

Two public sector units, the Indian Railway Finance Corporation (IRFC) and Bharat Petroleum Corporation Limited (BPCL), have cumulatively raised Rs 50 billion from the corporate bond market. IRFC raised Rs 30 billion via 15-year bonds […]



SEBI eases fundraising, open offer norms for distressed companies

July 2020

The Securities and Exchange Board of India (SEBI) has relaxed fundraising norms for distressed companies to help them tide over a cash crunch and find investors in a bid to get back on their feet. […]



Pension funds to get tax benefits for infrastructure investments in India

April 2020

The centre has decided to offer tax benefits to global pension funds on their investments in the infrastructure sector as it seeks to attract investments in the road, port and airport sectors. The decision, which […]



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. […]



Uttar Pradesh government sanctions Rs 16.6 billion for two expressway projects

January 2020

The Uttar Pradesh government has sanctioned funds worth Rs 2 billion and Rs 14.6 billion for the Bundelkhand six-lane expressway project and the Purvanchal expressway project, respectively, in its second supplementary budget announced on December […]



SBI sanctions Rs 3 billion term loan to PFS

July 2020

The State Bank of India (SBI) has sanctioned a Rs 3 billion term loan to PTC India Financial Services Limited (PFS) for working capital augmentation. The loan has a tenor of three years including a […]



World Bank approves Rs 30 billion loan for Namami Gange programme

July 2020

The World Bank has approved a five-year loan worth Rs 30 billion to the Namami Gange programme to develop and improve infrastructure projects to abate pollution in the river basin. So far, 313 projects worth […]



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 […]



NHAI sets up panel for InvIT selections

July 2020

NHAI has set up a four-member search-cum-selection panel to manage its upcoming infrastructure investment trust (InvIT). As a part of the process for setting up the InvIT, a new company is being formed to act […]



Tata Power to set up renewable energy InvIT

July 2020

Tata Power Limited plans to set up an InvIT for its renewable energy assets and look for investors as part of a broader plan that also involves selling non-core units to slash debt. The company’s […]



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) […]



Carlyle to buy 25 per cent stake in Airtel’s data centre arm Nxtra Data for $235 million

July 2020

US-based Carlyle Group has entered into an agreement to buy a 25 per cent stake in Bharti Airtel’s data centre arm Nxtra Data Limited for $235 million. The acquisition will give Airtel’s Nxtra an enterprise […]



Impact investor Acumen fully exits nine-year-old investment

July 2020

Social venture capital investor Acumen has marked a full exit from Orb Energy Private Limited which it had backed nine years ago. The impact investor has exited Orb Energy via a secondary share sale to […]



GMR tweaks airport deal with ADP as COVID-19 pummels aviation

July 2020

GMR Infrastructure Limited has modified a deal to sell a stake in its airports arm to French company Groupe ADP after the COVID-19 pandemic grounded flights worldwide. In February 2020, GMR Infrastructure had agreed to […]



Hindustan Zinc plans to sell 273 MW of wind energy assets

July 2020

Hindustan Zinc, a subsidiary of the Vedanta Group, is planning to sell its wind energy assets of 273 MW, valued at around Rs 15 billion. The wind projects are located across Rajasthan, Gujarat, Maharashtra, Karnataka […]



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 […]



NCLT orders liquidation of Essar Power Jharkhand Limited

January 2020

The NCLT has ordered the liquidation of Essar Power Jharkhand Limited (EPJL) after the sole bidder for the company refused to furnish a performance bank guarantee after bidding for the power plant. EPJL had planned […]



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