GMR Energy Limited (GEL), a subsidiary of GMR Infrastructure Limited, has entered into definitive agreements with Adani Transmission Limited (ATL) for the sale of two SPVs – Maru Transmission Services Limited (MTSL) and Aravali Transmission […]
Indian Oil Corporation Limited (IOCL), Oil India Limited (OIL) and Bharat Petro Resources Limited (BPRL) are together looking to raise $2 billion in debt to fund their stake purchase in two Russian fields, Vankorneft and […]
Infrastructure Leasing and Financial Services (IL&FS) has transferred its equity stake in Noida Toll Bridge Company Limited. The stake transfer comprises 1.9 million equity shares of Rs 10 each representing a share of 1.02 per […]
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) […]
Sterlite Power Grid Ventures has sought SEBI approval to raise Rs 25 billion-Rs 30 billion through InvITs. The company plans to utilise the funds for existing and upcoming projects as well as to pay off […]
SEBI has granted MEP Infrastructure Developers Limited (MEP) the certificate of registration to set up an infrastructure investment trust (InvIT). MEP is the sponsor for the MEP InvIT.
Tata Power Renewable Energy Limited has raised Rs 5.75 billion through the issue of NCDs on a private placement basis. The company will utilise the proceeds to prepay the existing high-cost debt. The NCDs will […]
ICICI Bank has sold outstanding Essar Steel loans worth around Rs 16 billion to Edelweiss ARC. ICICI Bank’s total exposure in Essar Steel was over Rs 30 billion. The bank is now left with working […]
The Asian Development Bank (ADB) has approved a $500 million loan to construct a bridge across the Ganga river. Along with ADB’s loan and $900,000 in technical assistance to improve bridge operation and management, the […]
The Kolkata Municipal Corporation in West Bengal has inked an agreement with ADB for augmentation of the water supply system and modernisation of the drainage system in the city. ADB will release a sum of […]
IRB Infrastructure Developers Limited’s subsidiary – AE Tollway Private Limited – has achieved financial closure of the Agra-Etawah bypass section widening project. IRB has tied up Rs 16.5 billion as project finance. The total cost […]
Reliance Jio Infocomm Limited (RJIL) has raised Rs 20 billion by issuing five-year non-convertible debentures (NCDs) through the electronic bidding platform route. The NCDs will bear a coupon rate of 8.32 per cent per annum […]
Adani Ports and Special Economic Zone Limited has raised Rs 2.52 billion through the issue of NCDs on a private placement basis. The company raised Rs 2.52 billion on July 4, 2016 through the allotment […]
The National Highways Authority of India (NHAI) has reportedly invited banks to submit expressions of interest for a masala bond offering for a minimum tenor of five years to raise the rupee equivalent of $750 […]
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, […]
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