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  Antony Waste Handling Cell Limited, the first waste management services company in India to float an IPO, has withdrawn the public issue as it failed to secure enough subscriptions.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



Adani Transmission raises $90 million on private placement basis

April 2020

Adani Transmission Limited (ATL) has raised $90 million on a private placement basis to cater to the growing demand for power by expanding its transmission network. The $90 million US-denominated fund has been raised by […]



Airtel launches QIPs and FCCB for $3 billion fundraiser to clear AGR dues

January 2020

Bharti Airtel has begun its $3 billion fundraising exercise by launching qualified institutional placement (QIP) and foreign currency convertible bond (FCCB) issues worth $2 billion and $1 billion respectively. Airtel’s board has fixed the floor […]



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 […]



RBI slashes interest rates as Coronavirus lockdown hits economy

April 2020

The Reserve Bank of India (RBI) has slashed interest rates by 75 basis points in an emergency move to revive economic growth hit by the coronavirus pandemic and the nationwide lockdown. The central bank cut […]



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 […]



Fourth Partner Energy receives Rs 5 million loan to provide solar power for non-profit entities

April 2020

Fourth Partner Energy has received a loan of Rs 5 million from Grameen Impact India, a non-banking finance corporation registered under RBI, towards its Power@1 programme for 18 months. The company will use the funds […]



JICA signs loan agreement for DFC Phase I

April 2020

JICA signed an agreement with the central government to provide an ODA loan of Rs 85.53 billion for Phase I of the Dedicated Freight Corridor Project’s Western Corridor on March 27, 2020. The loan has […]



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 […]



IndInfravit acquires eight road projects of Sadbhav Infrastructure Project Limited

April 2020

  The Larsen & Toubro (L&T) Group-run IndInfravit has completed the acquisition of 100 per cent stake in eight operational road projects of Sadbhav Infrastructure Project Limited at an enterprise value of Rs 63 billion. […]



Ministry of Power moves cabinet note to monetise Powergridassets through InvIT

April 2020

  The Ministry of Power has moved a cabinet note seeking approval for the monetisation of Power Grid Corporation of India Limited’s (Powergrid) transmission lines through an InvIT. It aims to raise Rs 100 billion […]



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) […]



Apis Partners’ deal to invest in L&T Infra Debt Fund falls through

April 2020

PE firm Apis Partners LLP’s planned investment in L&T Infra Debt Fund (L&T IDF) has been called off. The transaction was terminated as it could not be completed within the deadline. L&T Finance, the financial […]



Gateway Partners to invest $100 million in TVS Supply Chain

April 2020

  Singapore-based Gateway Partners is acquiring a minority stake in TVS Supply Chain Solutions Limited, the logistics arm of the TVS Group, for $100 million (about Rs 7.4 billion). The investment involves both a primary […]



GAIL in talks to buy stake in ACME Solar Holding

April 2020

GAIL Limited has entered into exclusive discussions to buy a stake in ACME Solar Holdings. GAIL is carrying out due diligence on solar power plants owned by ACME Solar and is yet to discuss financial […]



DIPAM signs agreement to sell the centre’s 67 per cent stake in Kamarajar port to Chennai Port Trust

April 2020

  The Department of Investment and Public Asset Management has signed a share purchase agreement to sell a 67 per cent stake of the government in Kamarajar Port Limited (KPL) to the Chennai Port Trust […]



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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