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 […]

Mazgon Dock Shipbuilders gets SEBI’s nod for IPO

September 2018

Mazagon Dock Shipbuilders has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). The public sector undertaking had filed draft papers with the markets regulator in […]

Earth Water plans to raise Rs 6.5 billion-Rs 8.5 billion via IPO

September 2018

CLSA-backed Earth Water Group, a specialised water treatment company, is planning to raise Rs 6.5 billion-Rs 8.5 billion through an IPO. The company is expected to file the draft red herring prospectus soon. Promoters may […]

GHMC raises Rs 1.95 billion through municipal bonds for financing road projects

September 2018

The Greater Hyderabad Municipal Corporation (GHMC) has raised Rs 1.95 billion through municipal bonds for financing road development projects in Hyderabad. These 10-year bonds were offered at a coupon rate of 9.38 per cent. The […]

Vodafone Idea raises Rs 15 billion via non-convertible debentures

September 2018

Vodafone Idea, the merged entity of Vodafone India and Idea Cellular, has raised Rs 15 billion by way of non-convertible debentures (NCDs) on a private placement basis. This is the first debt the company has […]

SEBI eases IPO norms, tightens definition of promoter group

July 2018

The Securities and Exchange Board of India (SEBI) has eased disclosure norms for initial public offerings (IPOs) and tightened the definition of “promoter group” to prevent fraudulent transactions. As per the new guidelines, IPO issuers […]

Government considering lowering approval threshold for resolution under IBC

February 2018

The government is considering lowering the approval threshold for resolution plans under the Insolvency and Bankruptcy Code in a move aimed at preventing too many insolvent companies from going into liquidation. At present, more than […]

West Bengal government approves Rs 10.98 billion for construction of bridge over Bhagirathi river

September 2018

The West Bengal government has approved Rs 10.98 billion for the construction of a bridge over the Bhagirathi river, connecting Kalna in Burdwan with Shantipur in Nadia. The project will be carried out by the […]

Tamil Nadu government sanctions Rs 41.8 million for Thirukattupalli bypass project

July 2018

The Tamil Nadu government has sanctioned funds worth Rs 41.8 million to facilitate land acquisition for the Thirukattupalli bypass project. The project involves the construction of a 3.2 km bypass road from the Thogur-Ayyampettai road […]

NHAI achieves financial closure for first bundle of TOT projects

September 2018

The National Highways Authority of India (NHAI) has achieved financial closure for the first bundle of toll, operate and transfer (TOT) projects. An upfront payment of Rs 96.81 billion was made by the Macquarie Group […]

NHAI to borrow Rs 250 billion from banks, MoRTH to raise funds to meet revised targets

September 2018

NHAI is expected to borrow at least Rs 250 billion as a loan from public sector banks including the State Bank of India (SBI). The authority recently received a loan of Rs 250 billion from […]

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) […]

Temasek commits $400 million to National Investment and Infrastructure Fund

September 2018

Singapore state investment firm Temasek Holdings has signed an agreement to invest up to $400 million (Rs 27.5 billion) in the Master Fund of the National Investment and Infrastructure Fund (NIIF). Temasek’s commitment may include […]

Shell Gas to acquire Total’s 26 per cent stake in Hazira LNG and Port

September 2018

Shell Gas B.V., a subsidiary of global energy giant Royal Dutch Shell plc, has entered into an agreement with Total Gaz Electricité Holdings France to acquire the latter’s 26 per cent equity in Hazira LNG […]

Merger of Idea Cellular and Vodafone India completed; creates India’s largest telco

September 2018

The merger between Idea Cellular and Vodafone India has finally been completed, leading to the creation of India’s largest telecom operator – Vodafone Idea Limited. The two operators have played a pivotal role in making […]

Ramky Infrastructure Limited executes share purchase agreement with Cube Highways

September 2018

Ramky Infrastructure Limited has executed a share purchase agreement with Cube Highways Private Limited for the sale of 100 per cent of the company’s shareholding in NAM Expressway Limited. The equity sale is proposed for […]

Everstone-Lightsource BP to set up £500 million energy platform, NIIF among key backers

May 2018

Private equity (PE) firm Everstone Group has formed an equal JV with British solar power company Lightsource BP to set up a £500 million ($710 million or Rs 46.73 billion) India-focused green energy fund. The […]

IIFCL to fund iconic but unviable projects, discussions underway for restructuring

May 2018

The Ministry of Finance is set to revamp the operations of India Infrastructure Finance Company Limited (IIFCL) with the government tasking it with funding projects of social and national importance. Apart from its current role […]


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