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 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 […]

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 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 […]

As per industry sources, the government is planning to divest up to 25 per cent stake in RailTel Corporation through an initial public offering (IPO). To this end, the government is reportedly looking for advertising […]

The promoters of AGEL will sell a 5.98 per cent stake in the company through an offer for sale. The stake sales are being planned to bring down the promoter shareholding in the company to […]

Mahanagar Telephone Nigam Limited (MTNL) is planning to seek shareholder approval for monetisation of land and buildings and raising up to Rs 65 billion through non-convertible debentures (NCDs). The company will seek shareholder approval for […]

NTPC is planning to raise around Rs 100 billion through green bonds for the acquisition of the central government’s stake in THDC India Limited (THDCIL) and North Eastern Electric Power Corporation Limited (NEEPCO). Proceeds from […]

The Securities and Exchange Board of India has prescribed wider disclosure and compliance norms to be followed by the issuers of listed municipal bonds. Such listed entities are required to prepare and submit half-yearly unaudited […]

The Reserve Bank of India (RBI) has allowed lenders in its revised guidelines for stressed assets complete discretion to design and implement bankruptcy resolution plans, after the Supreme Court scrapped the previous norms. The central […]

The Tamil Nadu government has sanctioned funds worth Rs 11.47 billion to upgrade rural roads in the state. The upgrade comes under the category of “other district roads” which include six-lane/intermediate lane stretches that connect […]

The Tamil Nadu government has sought funds worth Rs 53.98 billion from the central government for the implementation of various water supply projects in Tamil Nadu. The proposed projects include the development of a 100 […]

The Asian Development Bank (ADB) has approved a loan of $250 million as part of an assistance package to Energy Efficiency Services Limited (EESL) to expand energy efficiency investments in India. The project will adopt […]

The Telangana government has granted permission to the Greater Hyderabad Municipal Corporation (GHMC) to appoint SBI Capital Markets Limited for obtaining funds worth Rs 25 billion for the Greater Hyderabad Strategic Road Development Plan project. […]

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 […]

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 […]

The board of IL&FS Transportation Networks Limited (ITNL) has approved the setting up of a new arm to manage a proposed infrastructure investment trust (InvIT). The company’s board also granted in-principle approval to transfer its […]

Edelweiss Alternative Asset Advisors Limited has commenced Phase II of fundraising for its infrastructure investment trust (InvIT) Edelweiss Infrastructure Yield Plus Fund (EIYP), and is likely to close the fund at $750 million by early […]

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 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) […]

PROPARCO, a French development financial institution, has made a Rs 1.07 billion equity investment in Avaada Energy Private Limited. Avaada has 405 MW of operational large-scale solar projects in India and about 1 GW of […]

Fairfax India has infused an additional Rs 850 million equivalent to a 7 per cent stake in Mumbai-based Seven Islands Shipping Limited. Fairfax India had first picked up a 41.4 per cent stake in Seven […]

Sembcorp Industries Limited, a Singapore-based utilities and marine group, has agreed to acquire the stake it does not own in Sembcorp Energy India Limited from Gayatri Energy Ventures. The Singapore company will become the sole […]

Bharti Airtel has submitted conditional bids worth Rs 95 billion for Reliance Communications’ (RCOM) telecom assets that include spectrum, mobile towers and optic fibre. VFSI Holdings Pte Limited and UV Asset Reconstruction Company Limited have […]

The National Company Law Tribunal (NCLT) has ordered the commencement of the corporate insolvency resolution process for the grounded South Indian low-cost air carrier Air Costa. The airline is the second private airline after Jet […]

PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and the Department for International Development (DFID), UK. The […]