Idea Cellular has completed the allotment of 326.63 million equity shares to entities of the Aditya Birla Group, at an issue price of Rs 99.50 per share totalling Rs 32.5 billion. Post the preferential allotment, […]
The Competition Commission of India has cleared Reliance Communications’ (RCOM) proposal for the sale of assets to Reliance Jio Infocomm Limited (RJIL). The proposal includes the sale of RCOM’s towers, fibre, spectrum holdings and media […]
The Rural Electrification Corporation (REC) and REC Transmission Projects Company Limited (RECTPCL) have approved the proposal for the sale and transfer of WR-NR Power Transmission Limited, a subsidiary of REC and RECTPCL, to Power Grid […]
Bharti Infratel and Indus Towers are planning to merge their businesses to form a single tower company. The merged entity will have 240,000 towers. Earlier, Bharti Infratel was planning to acquire a controlling stake in […]
Bharti Airtel and Gulf Bridge International (GBI) have entered into a strategic agreement to scale up the capacity of GBI’s India-Middle East-Europe submarine cable system. Under the agreement, Bharti Airtel will acquire the ownership of […]
Air India, which is undergoing the divestment process, has received nine bids with respect to the tender issued for sale of its assets so as raise funds and reduce its debt burden. The airline had […]
The India Grid Trust (IndiGrid), an infrastructure investment trust (InvIT) has acquired three transmission assets worth Rs 14.1 billion from its sponsor, Sterlite Power Grid Ventures Limited (SPGV). The trust has acquired RAPP Transmission Company […]
CLP India Private Limited has reportedly expressed interest in acquiring the transmission business of Essel Infraprojects Limited at a project valuation of around $1 billion. Previously, the Greenko Group had expressed an interest in acquiring […]
Kishangarh Gulabpura Tollway Private Limited, a special purpose vehicle incorporated by IRB Infrastructure Private Limited, has achieved financial closure for Package I of the Kishangarh-Gulabpura highway project. It involves the six-laning of the 90 km […]
Aircel has filed for bankruptcy in the National Company Law Tribunal (NCLT), Mumbai bench. This final resort was taken when the Malaysian-owned Maxis Communications failed to strike any agreement with its lenders and shareholders. It […]
Monnet Ispat and Energy Limited’s creditors have approved an offer made by a consortium of distressed asset fund AION Capital Partners and JSW Steel. The offer includes a payment of Rs 24.5 billion to the […]
The Noida Metro Rail Corporation has received Rs 6.87 billion from the Ministry of Housing and Urban Affairs (MoHUA) for the development of the Aqua Line. Construction is ongoing and passenger services are scheduled to […]
The Delhi Metro Rail Corporation has integrated the use of Delhi Metro smartcards with feeder bus services and 13 parking facilities in the NCR. The feeder bus network comprises 200 buses on 40 routes. The […]
The Uttar Pradesh government has allocated Rs 5 billion for the development of metro rail networks and the Delhi-Ghaziabad-Meerut regional rail transit system (RRTS). Of the total amount, Rs 2.5 billion has been allocated for […]
The executive committee of the Mumbai Metropolitan Region Development Authority (MMRDA) has appointed contractors for the construction of an elevated viaduct and stations of the Mumbai Metro, Phase I, Line 2B project (DN Nagar-Mankhurd-Mandale) and […]
The Supreme Court has reduced the amount of Cauvery water for Tamil Nadu to 404.25 thousand million cubic feet (tmcft) from the 419 tmcft allotted by the Cauvery Water Disputes Tribunal (CWDT) in February 2007. […]
An MoU has been signed between India and Germany for technical co-operation under the Sustainable Urban Development Programme and the Smart Cities Mission in India. The German contribution to the project is up to Euro […]
Dipesh Dipu, Founder and Partner, Jenissi Management Consultants The Cabinet Committee on Economic Affairs has approved the methodology for the auction of coal mines for commercial mining. Earlier, the Ministry of Coal had published a […]
Indian Oil Corporation Limited (IOCL) has announced that it will invest Rs 700 billion to expand its refining capacity from the current 80.7 million tonnes per annum (mtpa) to 116.55 mtpa by 2030. IOCL also […]
The Abu Dhabi National Oil Company (ADNOC) has agreed to fill the strategic crude oil reserve at Mangaluru starting May 2018. ADNOC will spend about $400 million on 5.86 million barrels of crude oil that […]
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