Anil Ambani Group’s Reliance Communications said it was in talks with its lenders and partners to put off some of the instalment payments that the company had to pay until the completion of its merger with Sistema Shyam Teleservices and Aircel Cellular by September this year. “RCom is presently engaged in discussions with its lenders […]
Fitch Ratings has upgraded its rating on Tata Motors by one notch, pointing to the automaker’s improving business performance. “The upgrade reflects the sustained improvement in TML’s Indian automotive business over the last two years, supported by growing commercial vehicle volumes, successful new product launches in the passenger vehicle segment, as well as the management’s […]
Broking and financial firm HDFC Securities Ltd said it does not expect the US Federal Reserve to start sucking out the liquidity that it has infused into the global financial market in the last nine years any time soon. The comments came in the wake of the release of the minutes of the Federal Open […]
The Indian banking system is likely to get a permanent liquidity boost of Rs 1.7 lakh cr due to the demonetization of high-denomination bank notes, State Bank of India chief economic adviser said in a note to bank clients. He said people were not making the large cash withdrawals that everyone expected them to after the […]
Punjab National Bank, the third largest public sector bank in India, and smaller cousin Corporation Bank can teach bigger siblings like State Bank of India and Bank of Baroda a thing or two about going after big loan defaulters, an analysis of Reserve Bank of India data shows. In the last four years, these two banks […]
The Supreme Court on Monday dismissed the petition filed by the Income-Tax Department against Reliance Communications on taxing of the proceeds of Foreign Currency Convertible Bonds (FCCBs), said the telecom operator. The Supreme Court order has quashed contingent tax liability of RCOM for about Rs 4,800 crore. During Financial Year 2006-07, Reliance Communications had issued […]
Lypsa Gems and Jewellery Ltd said it reduced its secured debt by 25% by repaying a loan of Rs 75 mn to Bank of India. As of today, its debt stands at Rs 235 mn, down from Rs 31O mn as of 31st March 2016, it said. Debt Equity Ratio has dropped from 1.03x to […]
Yes Bank said it will raise up to Rs 2500 crore by way of debentures. This will comprise Rs 1,000 crore of unsecured redeemable long-term bonds and a green shoe option for an additional Rs 1,500 crores. The bonds will be sold via private placement. The bank had earlier got shareholder approval to raise up […]
Even as the telecom industry finds itself in a tariff war with entry of a major player, an ASSOCHAM-KPMG paper has pointed towards the operators grappling with a huge debt burden of Rs 3.80 lakh crore, reinforcing a case for rationalisation of taxes and other levies along with spectrum charges. The telecom operators have an […]
Housing & Urban Development Corporation Ltd., a wholly owned Govt. of India enterprise, said it raised a sum of Rs 1300 crore through debt. The amount was raised through placement issues of unsecured, redeemable and non-convertible bonds. While the issue of Rs 700 crore was raised at 7.36% on September 16 and the second tranche […]
Automobile manufacturers Mahindra & Mahindra Ltd. said it raised Rs 475 crores via non-convertible debentures on private placement basis with a tenure of 10 years. The face value of the 7.57% debentures are Rs 10,00,000 each. Mahindra & Mahindra is an Indian multinational automobile manufacturing corporation based in Mumbai, Maharashtra. It is one of the […]
Reliance Industries said its subsidiary Reliance Sibur Elastomers Pvt Ltd. has agreed to take a loan of $330 million, roughly equal to Rs 2193 crore, from overseas lenders. “The Facility with door to door tenor of 10 years shall be utilized to part finance the Capital expenditure to setup India’s first butyl rubber manufacturing facilities […]
Manuappuram Finance today announced that it has raised Rs 75 crore by allotting 750 secured redeemable non-convertible debentures. Each debenture has a face value of Rs 10 lakhs. Last week the company had hinted in raising Rs 75 crore through secured redeemable Non-Convertible Debentures. Manappuram Finance is a non-banking financial company based in Kerala.
State Bank of India said it will be raising Rs 11,100 crore debt via private placement to overseas and-or Indian investors. The perpetual debt instruments could be denominated in US dollars or Indian Rupee, the bank said. The debt will rank as Tier 1 capital for India’s largest bank. No timelines for the move were […]
Suzlon Energy said that it will allot 38.95 lakh equity shares to holders of its foreign currency convertible bonds after getting a conversion notice from a bond holder. The bonds were due on July, 2019. Each bond is worth $1000 and will be converted at Rs. 60.225 per dollar. Equity will be issued at Rs […]
NTPC announce today said that it has raised Rs 800 crore as through private placement of secured non-convertible debentures at a rate of 7.58% per annum. The debentures will have a maturity period os 10 years added the company. The fund will be utilized to finance capital expenditure and refinancing the debt requirements in […]
Minda Industries said that credit rating agency ICRA has upgraded the long term credit rating of the company by one notch from A+ to AA- and added that the outlook on the long-term rating was ‘Stable’. The short term rating of the company remains at A1+ added the company. ICRA has said that, the ratings […]
SREI Infrastructure has filed with the regulators to raise Rs 1000 crore by selling debentures to be public. The non convertible debentures will be issued in one or more tranches, subject to the Shelf Limit in accordance with the terms and conditions set out in separate tranche prospectus for each such tranche issue. The object […]
The government of India has decided to utilize Rs 6,500 cr of surplus cash to buy back bonds that it issued recently. The bonds carry 1.44% interest over and above the wholesale inflation index rate and were due to repurchase only in the year 2023. The government of India has seen a sudden influx of […]
Bangalore-based Ujjivan Financial Services has become the first microfinance institution in India to raise funds directly from mutual funds, and that too one of the largest mutual funds in India. It raised Rs 50 cr from an unnamed mutual fund by placing ‘commercial paper’ (a kind of debt). “This is the first CP issuance by […]
