The central government has sanctioned Rs 410 million for Siddipet town (second phase) under the Atal Mission for Rejuvenation and Urban Transformation. In the first phase, about Rs 200 million was sanctioned for the town. […]
RBI has given in-principle approval to seven non-bank companies to operate under the Bharat Bill Payment System. These are Spice Digital, Oxigen, PayU India, Paytm, Euronet, TechProcess and BillDesk. These companies will now be required […]
In a big step towards the resolution of bad loans, Indian banks, the Reserve Bank of India (RBI) and the Ministry of Finance are in talks for setting up two special funds to resurrect troubled […]
The central government has relaxed foreign direct investment (FDI) norms for the aviation and defence sectors. In the aviation sector, foreign investors, barring overseas airlines, have been permitted to hold 100 per cent stake in […]
The cabinet has cleared the proposal for the upcoming spectrum auction likely to be conducted in September 2016. A total of 2,142 MHz of spectrum in the major bands (700 MHz, 800 MHz, 900 MHz, […]
The Kerala government has announced a Rs 120 billion package for infrastructure projects under the revised State Budget 2016-17. The necessary funds will be raised through the Kerala Infrastructure Investment Fund Board by issuing bonds, […]
RBI has released the framework for payment and settlement systems in India. The regulatory framework, based on a consultative approach, aims to achieve enhanced coverage of payment systems coupled with convenience for end-users. A key […]
The central government is planning to list Cochin Shipyard Limited (CSL) on the NSE. CSL’s IPO will be of over 33.9 million shares. This would comprise a fresh issue of over 22.6 million shares and […]
Vodafone India is planning to file the draft red herring prospectus (DRHP) for its initial public offering (IPO) by September 2016. Vodafone aims to raise Rs 150 billion-Rs 180 billion through the IPO. The company […]
Tata Communications has entered into a definitive agreement with Singapore Technologies Telemedia to hive off stake in its data centre business. As per the agreement, the latter will acquire 74 per cent in Tata Communications’ […]
CLP India is in advanced negotiations to buy a stake in Suzlon Energy’s 100 MW solar park project in Telangana. The former’s diversification of its clean energy portfolio comes after the company established itself as […]
Reliance Industries Limited (RIL) is exiting its international fuel retailing business by selling its stake in Mauritius-incorporated Gulf Africa Petroleum Corporation (GAPCO), which trades in and markets fuel in Africa, to France-based energy producer Total. […]
Domestic telecom services company Manana Innovations has acquired Gibraltar-based mobile value-added services firm The Tenable Group Limited (TTGL). Under the transaction, 80 per cent shareholding of TTGL has been transferred to the management of Manana […]
Reliance Communications (RCOM) and Aircel are likely to complete their merger by end-June 2016. Both RCOM and Aircel are likely to hold 50 per cent stake each in the merged entity, which will be the […]
Bharti Infratel is said to be in talks to acquire Tower Vision India. The latter is owned by a group of financial investors and has about 8,500 towers in India, with a tenancy ratio of […]
IL&FS Transportation Networks Limited (ITNL) has signed a definitive agreement with MAIF Investments India Private Limited for the sale of 8,313,800 equity shares of Rs 10 each held in Gujarat Road and Infrastructure Company Limited […]
RBI has allowed foreign investors to raise their holdings in Bharat Petroleum Corporation Limited (BPCL) to up to 49 per cent. Foreign institutional investors and registered foreign portfolio investors can now invest in up to […]
Greenko Energy Holdings has signed definitive agreements for the infusion of primary equity to the tune of $230 million – $80 million from an affiliate, GIC Singapore (which had acquired a majority stake in Greenko […]
The Tata Power Company is planning to raise up to Rs 40 billion by selling corporate bonds with the aim of funding its proposed acquisition of renewable energy assets from the Welspun Group. Tata Power […]
NTPC Limited has raised Rs 10.72 billion through the issue of bonds. The bonds were oversubscribed by 1.74 times, with bids received for Rs 13.05 billion against the issue size of Rs 7.5 billion. The […]
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