In a bid to strengthen bilateral ties and ensure energy security, India has offered a $100 million line of credit for infrastructure development to Papua New Guinea and has agreed to jointly develop new avenues […]
The Odisha government has allocated Rs 3.73 billion for the Sambalpur sewage treatment plant (STP) project. Of the allocated funds, Rs 400 million will be provided by the Odisha Urban Industrial Development Fund in the form […]
The Ministry of Urban Development has released a sum of Rs 1.94 billion to the Pune Municipal Corporation (PMC), Maharashtra, for implementing various projects under the Smart Cities Mission. As per the plans, the civic […]
The Ministry of Road Transport and Highways has sanctioned funds for the Jammu semi-ring road project and the Srinagar semi-ring road project. Funds worth Rs 14 billion and Rs 18.6 billion have been approved for […]
The London Stock Exchange-listed Cairn Energy, which holds a 9.82 per cent stake in Cairn India, has called for an annual general meeting of shareholders on May 12, 2016, to approve the proposal to dispose […]
The central government has approved the implementation of the National Hydrology Project (NHP) across the country. The project will be undertaken as a centrally sponsored scheme with a total outlay of Rs 36.79 billion. Of […]
Tata Sons will increase its share in AirAsia India to 49 per cent by purchasing the 7.49 per cent stake held by Telestra Tradeplace. With the deal, Tata Sons and Malaysia’s AirAsia Berhad will hold […]
The Indian Oil Corporation is in talks to buy an equity stake in the Nagarjuna Group’s refinery Nagarjuna Oil Corporation Limited (NOCL) in Cuddalore, Tamil Nadu. The move follows talks by Singapore-based Netoil to buy […]
Vodafone India has sought Foreign Investment Promotion Board approval to acquire TRG Capital-owned YOU Broadband for around Rs 4 billion. Rothschild and ICICI Securities are serving as investment bankers for the transaction to Vodafone and […]
Flipkart has acquired Bengaluru-based mobile payments company PhonePe. However, the financial details of the acquisition have not been disclosed. PhonePe is building a unified payments interface-based product. The interface will allow users to carry out […]
China-based handset vendor Xiaomi has led an investment round of $25 million in Hungama Digital Media Entertainment, Mumbai-based aggregator and publisher of online entertainment content, along with Hungama’s existing investors. As per the deal, Xiaomi […]
The Cabinet Committee on Economic Affairs has approved the proposed acquisition of 51 per cent stake in Viom Networks by the American Tower Corporation (ATC). The deal, valued at Rs 76.35 billion, was announced in […]
Motilal Oswal Private Equity Advisors Private Limited, the private equity (PE) arm of Motilal Oswal Financial Services Limited, has acquired a 4.1 per cent stake in the Indian Energy Exchange (IEX) from Jindal Power Limited […]
GVK Power and Infrastructure Limited will sell 33 per cent equity stake in Bangalore International Airport Limited (BIAL) to the Fairfax India Holdings Corporation and Fairfax Financial Holdings Limited for an aggregate of Rs 21.49 […]
Vodafone is said to be in talks with the Piramal Group and HDFC Bank to sell around 49 per cent stake in its payments bank. The move implies that the operator is planning to sell […]
According to the Ministry of Communications and Information Technology, Bharat Sanchar Nigam Limited’s (BSNL) outstanding debt stood at Rs 76.66 billion as of January 2016, while that of Mahanagar Telephone Nigam Limited (MTNL) stood at […]
International ratings agency Fitch is expecting the non-performing assets ratio of banks to improve marginally to 10.9 per cent by the end of this fiscal year from 11.1 per cent in 2014-15. According to the […]
The Rajasthan government has signed a Program Implementing Entity Agreement with the World Bank for an International Bank for Reconstruction and Development credit of $250 million for the First Programmatic Electricity Distribution Reform Development Policy […]
Allcargo Logistics Limited is planning raise up to Rs 3 billion on a private placement basis. The company will seek shareholder approval to raise the amount by issuing secured redeemable NCDs. The resource raising committee […]
Adani Ports and Special Economic Zone Limited (APSEZL) has raised Rs 5 billion through the issue of debentures on a private placement basis. The company has raised Rs 5 billion through the allotment of 5,000 […]
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