June Issue 2019
June Issue 2019
2019
June Issue 2019
RBI eases stressed assets norms
The Reserve Bank of India (RBI) has allowed lenders in its revised guidelines for stressed assets complete discretion to design and implement bankruptcy resolution plans, after the Supreme Court scrapped the previous norms. The central […]
Tamil Nadu government seeks sanction of Rs 53.98 billion funds for water supply projects
The Tamil Nadu government has sought funds worth Rs 53.98 billion from the central government for the implementation of various water supply projects in Tamil Nadu. The proposed projects include the development of a 100 […]
AFD to provide grant of Rs 54.97 billion to IRSDC for development of railway stations
The Indian Railway Station Development Corporation (IRSDC) has entered into a tripartite agreement with the French National Railway Company (SNCF) and French Development Agency (AFD) to provide a grant for the development of railway stations. […]
ADB approves $350 million loan for rehabilitation and upgradation of roads in Chhattisgarh
The Asian Development Bank (ADB) has approved a loan of $350 million for the rehabilitation and upgradation of roads in Chhattisgarh. The project involves the rehabilitation/upgradation of two state highways and 23 major district roads […]
ADB to provide $750 million loan for railway track electrification project
ADB has signed a loan agreement with the Indian Railway Finance Corporation (IRFC) to provide funds totalling Rs 51.88 billion ($750 million) for taking up railway track electrification projects in India. IRFC will use the […]
PFC raises $1 billion through international bond issue
The Power Finance Corporation (PFC) has raised $1 billion through Reg-S bonds in the international market. The transaction was executed in two tranches – a five-year tranche for $400 million at 3.87 per cent at […]
Adani Green Energy first to issue $500 million green bonds on India INX
Adani Green Energy Limited (AGEL), through its three subsidiaries, has issued and listed green bonds raising $500 million. This is the first issuance by a private non-banking company on the Global Securities Market (GSM). The […]
Airtel and VIL in talks to turn fibre JV into InvIT
In a bid to attract long-term investors, Bharti Airtel and Vodafone Idea Limited (VIL) are planning to turn their proposed optic fibre network joint venture (JV) into an infrastructure investment trust (InvIT). Under the planned […]
Global investors invest in Oriental Structural Engineers‘ InvIT
A group of global investors including Beijing-based Asian Infrastructure Investment Bank, Germany’s Deutsche Investitions-und Entwicklungsgesellschaft, the International Finance Corporation and India’s HEG Group have invested in an InvIT formed by Oriental Structural Engineers Private Limited […]
Adani Green Energy promoters to sell stake worth Rs 4.02 billion via an offer for sale
The promoters of AGEL will sell a 5.98 per cent stake in the company through an offer for sale. The stake sales are being planned to bring down the promoter shareholding in the company to […]
Airtel Africa seeks to raise at least $750 million via London listing
Bharti Airtel Limited will raise $750 million (about Rs 52 billion) by selling shares of its Africa unit via an initial public offering (IPO) and list them on the London Stock Exchange. In case of […]
Antony Waste plans Rs 3.50 billion IPO in June 2019
Antony Waste Handling Cell, which processes almost half the garbage generated by Mumbai, will tap the capital market in June 2019 with a Rs 3.5 billion IPO. This will make it the first municipal solid […]
Mitsui and Company acquires 49 per cent equity stake in Marvel Solren
Japan-based Mitsui and Company Limited has acquired a 49 per cent equity stake in Marvel Solren Private Limited from Mahindra Susten. The remaining equity (51 per cent) will continue to be held by Mahindra Susten. […]
Greenko raises $495 million to invest in 2.4 GW of energy storage projects
The General Insurance Corporation (GIC) and the Abu Dhabi Investment Authority (ADIA) have signed an agreement to invest $495 million as primary equity in Greenko Energy Holdings, a renewable energy project developer. The investment will […]
Renew Power to raise $300 million via rights issue
ReNew Power Limited is raising an additional $300 million via a rights issue from its existing investors, namely, Goldman Sachs, Inc., the Canada Pension Plan Investment Board and ADIA. The proceeds from the issue could […]
Airtel’s rights issue gets oversubscribed; acquisition of Tikona’s 4G assets completed
Bharti Airtel’s rights issue for over 1.13 billion shares has been oversubscribed as it has received bids for over 1.19 billion stocks. Airtel had floated a rights issue of up to 1,133,591,075 shares, aggregating over […]
Waste management startup Recykal raises pre-Series A funding
Waste management and recycling start-up Recykal has raised $2 million (Rs 138 million at current exchange rates) in a pre-Series A funding round. Triton Investment Advisors and individual investors contributed to the round. The company […]
Edelweiss to acquire two road assets from Navayuga Group
Edelweiss Infrastructure Yield Plus Fund (EIYPF) will acquire two road assets from the Navayuga Group for $150 million. Both the road assets under consideration are located in Assam. These were developed through the build-operate-transfer (BOT) […]
NCLT and VIL shareholders grant approval for transfer of fibre assets to subsidiary
The National Company Law Tribunal (NCLT) has granted approval to VIL to hive off its fibre assets to its wholly owned subsidiary Vodafone Towers Limited. The operator had approached the NCLT Ahmedabad bench on April […]