South Korea has extended a loan of Rs 350 billion to the Maharashtra government for the implementation of the Rs 460 billion Nagpur-Mumbai Super Communication Expressway project. Meanwhile, several South Korean companies have shown interest […]
The Rajasthan government has allocated a sum of Rs 50 billion for the construction of drainage networks and the provision of daily water supply, among other developmental works, in Ajmer. The proposed works are estimated […]
The Securities and Exchange Board of India (SEBI) has further relaxed regulations to boost investor participation in real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). Measures include allowing REITs to raise funds by […]
The Reserve Bank of India (RBI) has increased the corporate bond investment limit for foreign portfolio investors (FPIs) by taking out rupee-denominated masala bonds from of the ambit of the total debt investment limit. With […]
The Ministry of Power is formulating a scheme to revive 34 stressed thermal powerplants with a total capacity of 40,000 MW by inviting competitive bids from them to supply power to state utilities for five […]
Sadbhav Infrastructure Projects Limited is in the process of refinancing the debt of nine of its eleven road projects, which will result in savings of over Rs 1.27 billion annually. Two subsidiaries of the company […]
The Ind Bharath Group has filed an insolvency petition against Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) to recover dues of over Rs 7 billion from the state utility under the Insolvency and Bankruptcy […]
The National Company Law Tribunal (NCLT) has appointed an interim insolvency professional for SmartCity (Kochi) Infrastructure, after admitting a payment defaultclaim by a creditor against the JV between the Kerala government and Dubai’s Tecom Investments. […]
The GMR Group is in advanced talks to sell its 220 MWgas-based power plant in Kakinada for $63 million. Though the plant has been operational since November 2001, it has not been generating energy since […]
Dilip Buildcon Limited (DBL) has signed an agreement with the Chhatwal Group Trust (Shrem Group) to sell 24 of its road assets. These include 14 operational projects and 10 under construction projects, for which DBL […]
TheEssar Group has completed the $13 billion sale of its flagship company Essar Oil to a consortium led by Russian energy major OAO Rosneft. Rosneft, along with Russian private fund United Capital Partners (UCP) and […]
Bharti Airtel has completed the acquisition of Tikona Digital Networks and the latter has now become a whollyowned subsidiary of Bharti Airtel. The acquisition of Tikona gives Bharti Airtel access to the former’s 4G spectrum […]
Hyderabad-based Pennar Industries Limited has agreed to sell its stake in Pennar Renewables Private Limited to Greenko Solar Energy Private Limited. Though the value of the transaction has not been disclosed, the stake sale will […]
The management of GVK Power and Infrastructure Limited (GVKPIL) has renewed talks with potential investors to divest stakes, either partially or fully, in various subsidiaries to which the company had extended heavy guarantees. GVK hopes […]
Mitsui O.S.K. Lines Limited is likely to acquire an 11 per cent stake in the Pipavav (Jafrabad) LNGTerminal Projectin Gujaratbeing built by Swan LNG Private Limited. The company may also be a technical consultant for […]
Petronas, Malaysia’s state-owned oil and natural gas producer, intends to purchase a stake in Indian Oil Corporation Limited’s under-construction 5million tonnes per year liquefied natural gas (LNG) import terminal at Ennore. The move is in […]
Seaways Shipping and Logistics Limited has bought out the entire 24 per cent stake held by IDFC Private Equity in the company to facilitate the exit of the PE firm. IDFC’s decision to end its […]
China-based firm Transsion Holdings has bought an 80 per cent stake in Spice Mobile as it aims to garner a larger market share in the fiercely competitive Indian mobile handset market. Transsion holds an 80 […]
The Oil and Natural Gas Corporation’s (ONGC) board has given in-principle approval for the firm to acquire the government’s 51.11 per cent stake in Hindustan Petroleum Corporation Limited (HPCL). Prior to the merger, HPCL plans […]
The Indian government has raised Rs 91.36 billion by means of a share sale in NTPC Limited. The sale is a part of the government’s initiative that aims at raising Rs 725 billion through several […]
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