The Union Cabinet today gave its approval for hiving off mobile tower assets of Bharat Sanchar Nigam Limited into a separate company owned by BSNL. While the move, is not of that big a significance in itself, it is crucial from the perspective of what could come next. It is believed that the move to […]
State-owned Oriental Bank of Commerce said it intends to raise Rs 500 cr by selling bonds. “The Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs.10,00,000 each at par aggregating to Rs.500 crore with an option to retain over-subscription of up to Rs.500 crore,” […]
Auto ancillary company Minda Corp said it had raised Rs 25 cr by issuing commercial paper. Commercial paper refers to unsecured, short-term promissory notes or debt issued by a company. These paper usually mature in a few weeks or months and are used for working capital and other short-term requirements. “This (issue) is in line […]
GMR Goa International Airports Limited said it closed funding for the upcoming Mopa Airport in Goa, with Axis Bank underwriting the entire debt of Rs 1,330 cr. “Having tied up funding for the project, we are working towards starting on ground construction activity post monsoon,” said Srinivas Bommidal, chairman of GMR Airports. “We are confident […]
JSW Steel said it will seek approval from its shareholders to raise thousands of crores of rupees via debt and equity in the upcoming annual general meeting of the company. “the Company had obtained the approval of members at the Annual General Meetings held on 26.07.2016 and 31.07.2014 for raising of resources in the form […]
State Bank of India said it raised Rs 15,000 cr by selling its shares in a ‘qualified institutional placement’ or QIP, making it the largest such transaction in Indian share market history. QIP’s usually involve selling shares exclusively to big institutions such as mutual funds, banks and other investment houses and are cheaper and quicker than […]
State Bank of India said its committee of directors for capital raising has decided to start receiving bids a qualified institutional placement of its shares with a floor price of Rs 287.58 per equity share. “The Bank may offer a discount of not more than 5% to the Floor Price,” it said. The bank is […]
Yes Bank, one of India’s youngest, and fastest-growing banks, said it had no plans to go for a billion-dollar qualified institutional placement of its shares as reported by the media. The bank had tried to do a mega share sale in September last year, but the effort didn’t find success for various reasons. This time, […]
Bank of Baroda said its board of directors had approved the raising of up to Rs 1,000 cr by selling perpetual bonds. The bonds would be sold via private placement, i.e. without a public auction or book building. The timing and other details will be determined by market conditions, the Gujarat-based bank said. Bank of […]
A large chunk of under-development coal-based power units have their construction stalled due to the paucity of funds, according to numbers obtained from the power ministry. In total, projects that have a design capacity of 18,420 megawatt, or 18.42 gigawatt, are classified as ‘stalled’ due to financial reasons, the ministry said. This is equivalent to […]
Private equity and venture capital firms are largely bullish on India in the context of big economic reforms, but are awaiting the results of the ongoing Uttar Pradesh elections to assess the level of popular support that such policies enjoy, according to a survey by VCCircle. VCCircle, which tracks private investment activity in India, said […]
Technology provider Infosys said it made investment in TidalScale, a provider of software-defined server. No details about the financial aspects of the investment were made public. TidalScale’s offering, in many ways, is the opposite of virtualization. While virtualization allows you to split a single hardware-based server into several virtual servers, the software-defined server helps combined […]
Repco Home Finance Ltd said it raised Rs 100 crore through private placement by allotting 1,000 non-convertible debentures. The face value of the secured redeemable non-convertible debentures are Rs 10 lakh each. Repco Home Finance Ltd (RHFL) is a housing finance company headquartered in Chennai, Tamil Nadu. The company was incorporated in April 2000. RHFL […]
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 […]
Nandan Denim Limited (NDL), a Gujarat- based fabric manufacturer, said it is planning to issue 50 lakh convertible warrants to foreign investors at Rs 200 each, aggregating to Rs 100 cr. “The company will be issuing 25 lakh fully convertible warrants each to Foreign Portfolio Investors, LTS Investment Fund Ltd and LGOF Global Opportunities Ltd […]
The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, said it has approved capital funding of Rs 5,176 crore to GAIL for development of 2539 km long Jagdishpur-Haidia and Bokaro-Dhamra gas pipeline project. The approved fund will be 40% of the total capital cost of Rs 12,940 crore for the […]
Fiem Industries Ltd. said it raised Rs 120 crore by placing 12 lakh shares with qualified institutional buyers. The shares were priced at Rs 1002 each. Fiem manufacturers automotive lighting & signaling equipments and rear view mirrors. Most of its revenue comes from the two-wheeler segment of the vehicle industry. The company´s shares had closed […]
Yes Bank, one of India’s newest private sector banks, said it has no immediate plans of raising capital and denied media reports to the contrary. The bank, in a statement, said it has not appointed any merchant bankers to find buyers for any new securities or shares. Yes Bank was responding to media reports that […]
NDTV has closed funding for a new platform that will sell healthy foods and personal care products from across the country through its subsidiary- Smartcooky Internet Limited. Smartcooky.com is based on NDTV’s current food site — food.ndtv.com which has “almost 3 million unique visitors a month.” SmartCooky Internet Limited, has raised funds at a valuation […]
IndusInd Bank said it has raised a total of Rs 5,081 cr by selling 6 cr (60 mln) shares to its promoters and qualified institutional investors. “The raised capital will be used to support the Bank’s growth and also augment total Capital Adequacy Ratio. The QIP issue addressed to foreign and domestic institutional investors was […]
