Reliance Communications (RCOM) has presented a fresh plan to recast its Rs 450 billion debt. The plan includes converting Rs 70 billion of debt into equity by banks and handing over the majority stake to […]

SPML Infra Limited has implemented the Scheme for Sustainable Structuring of Stressed Assets for converting Rs 5.46 billion of its Rs 11.17 billion debt into optionally convertible debentures (OCDs). The OCDs have a tenor of […]

The State Bank of India (SBI) may partner with the Life Insurance Corporation of India (LIC) and India Infrastructure Finance Company Limited (IIFCL) to set up a credit enhancement fund that will provide guarantees to […]

Powergrid Corporation of India Limited plans to raise up to Rs 40 billion through domestic bonds by September 2016. The funds will be utilised to meet the company’s working capital expenditure. This would be the […]

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 […]

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 […]

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 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 […]

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 […]

The Reserve Bank of India has allowed foreign portfolio investors (FPIs) to invest in municipal bonds issued by various urban local bodies. This will broaden the access of non-resident investors to debt instruments in the […]

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 […]

The Gujarat government has approved a grant of Rs 5.96 billion to 18 municipalities and six municipal corporations for various infrastructure and development works. The state administration has approved Rs 1.53 billion for water supply […]

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. […]

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 […]

GMR Hyderabad International Airport Limited, a GMR Group company, has raised $300 million from the overseas bond market to take up expansion works at the Rajiv Gandhi International Airport. In this regard, a purchase agreement […]

Hyderabad-based Mytrah Energy Limited has raised Rs 18 billion from the Piramal Group’s financial services companies in the form of non-convertible debentures (NCDs). The NCDs, carrying a tenor of seven years, will be invested in […]

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 […]

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 […]

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) […]

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. […]

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 […]

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) […]

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 […]

PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and the Department for International Development (DFID), UK. The […]

The Jet Airways’ board approved a resolution plan for the cash-strapped airline on February 14, 2019, to meet a funding gap of Rs 85 billion through a mix of equity infusion, converting debt into equity, […]