Voltas Limited has decided to raise funds through a rupee term loan instead of non-convertible debentures (NCDs) on a private placement basis. In a regulatory filing, Voltas informed the stock exchanges that its board had earlier approved a proposal on October 19 to raise up to Rs 500 crore through issuance of NCDs. However, the […]
Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]
Bharti Airtel has abandoned its plan to reorganize its corporate structure by focusing on the digital business — such as its Wynk app, Airtel Cloud, Airtel Xstream and so on — by moving all telecom infrastructure into a different subsidiary known as Airtel Ltd. The move was announced eight months ago, and was widely seen […]
SpiceJet, one of the two companies trying to take over the national airline, has rejigged its holding structure by transferring its cargo business to a wholly owned subsidiary to allow for greater ease of monetization. The airline also said it will also raise Rs 2,500 cr through a qualified institutional placement of SpiceJet shares. The […]
Reliance Industries, one of India’s biggest conglomerates, said it has become debt free on a net basis, meaning that it now owes less money to its creditors than it stands to receive from its debtors. This, it said, is thanks largely to the Rs 1.16 lakh cr that it has raised for a range of […]
Telecom services provider Bharti Airtel said it was launching a new ‘start-up accelerator’ program aimed at finding and investing in promising start-ups. The company said the first investment has been made in a blue-collar job-search software from Bengaluru based tech startup Vahan. The size of the investment was not revealed. “Founded in 2016 and backed […]
Real Estate player Godrej Properties said Singapore-based Gamnat Pte Ltd wil invest Rs 1,000 cr in the company. The investment will be carried out at a share price of Rs 783.50, roughly equal to today’s opening price. Shares of the company shot up to Rs 813.55 after the news was announced, and are currently trading […]
Godrej Properties Ltd said Godrej Fund Management will invest into its ‘Godrej Two’ commercial building project in Vikhroli. Godrej Fund Management was set up by the real estate company three years ago primarily with the purpose of raising funds for its real estate projects. It is currently a separate and distinct entity. Financial details, such […]
Idea Cellular, one of India’s largest telecom operators, said the recently concluded sale of its shares to institutional investors, along with a recent fund infusion by the promoter, will reduce its net debt by Rs 6,750 cr. “This equity raise of Rs. 3,500 crore along with recent infusion of Rs. 3,250 crore by Idea’s Promoter […]
Idea Cellular said it has approved a price of Rs 82.50 for the shares to be sold as part of its Rs 3,500 cr qualified institutional placement. The price implies a discount of 2.6% to the opening price of Idea Cellular stock on the NSE today. It also said that it will close its QIP […]
Indusind Bank, part of the Hinduja group, said it has raised $500 mln (about Rs 3,300 cr) by way of syndicated term loans from a group of overseas lenders. The tenor of the facility is 3 years and will be used for general banking purposes, it said. “This fund-raising, along with the funds raised during […]
The European Investment Bank, the lending arm of the European Union, will invest $200 mln (Rs 1,283 cr) into the Indian solar and power sector via a deal with Yes Bank in order to support the growth of renewable energy in the country. The investment will be routed through a renewable financing program with Yes […]
ICICI Bank said it raised international debt $500 mln at an interest cost of 3.8%. “The notes carry a coupon of 3.80% and were offered at an issue price of 99.728,” India’s second biggest private sector bank said. The sale of the 10-year bonds was done through its DIFC branch in UAE. The notes were […]
India’s fifth largest private sector bank Yes Bank said it is raising $400 Mn — about Rs 2,600 cr — through two five-year syndicated loans from banks in Taiwan and Japan. It will raise $250 Mn from Taiwanese banks and 16.5 Bn Yen — about $150 Mn — from Japan. “YES BANK has successfully tied […]
Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its ‘branded packaged oils distribution business’. The money will be substantially utilized for payment to all lenders over a period of time, it said. Devonshire will pay Rs 4,000 cr for the branded packaged […]
AU Small Finance Bank and Small Industries Development Bank of India (SIDBI) entered into an agreement to jointly lend to small businesses. Both will earmark a corpus of Rs 100 crore for lending under the ‘AU SIDBI Joint Financing Programme’ for FY18. The program will target micro, small and medium sized enterprises in the manufacturing […]
Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares. It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance. Mahindra & Mahindra Financial Services Limited (MMFSL) is […]
The amount of money invested or committed by private equity firms in India reached an all time high in the first nine months of this year, said Venture Intelligence, a research firm tracking unlisted company financials, transactions and valuations. PE firms invested about $17.6 billion in Indian companies as of September, overtaking the previous record […]
Pharmaceuticals and specialty chemicals maker Vivimed Labs said investment firm OrbiMed will invest $42.5 mn (Rs 270 cr) into its active pharmaceutical ingredients business. The investment will be into Vivimed Labs Mascarene Ltd, which is in turn the holding entity of the company’s API business, UQUlFA. The proceeds of this fund raise will be utilised […]
InterGlobe Aviation, the company that operates the country’s largest airline Indigo said the company would raise Rs 2,530 cr by issuing fresh shares. At the same time, existing shareholders of the company would raise Rs 1,265 cr by selling some of their shares as well, the company said. The total size of the offering would […]
