The majority stake owner of Delhi-Gurgaon Superconnectivity, the company which operates the connecting highway between Delhi and Gurgaon, is now set to change for the second time. National Highways Authority of India (NHAI) Board has approved a proposal allowing IDFC, which was one of the key lenders to DS Construction, to take over 74 per cent stake in the project.
Author: admin (Infratructure Today)
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Firms raise more capital through NCDs
Reports indicate that companies raised more than Rs 35,000 crore through issue of non-convertible debentures (NCDs) in 2012, which is higher than the Rs 12,753 crore garnered in the preceding year. Recently, HDFC issued Rs 250 crore NCDs with a green shoe option to raise another Rs 250 crore.The mortgage lender raised the amount to meet general corp
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IL&FS’ infra debt fund to raise $1-bn initially
IL&FS Financial Services informed that the infrastructure debt fund (IDF) floated by it in a joint venture with Life Insurance Corp of India (LIC) may collect up to $1 billion in the beginning. It is learnt that the board of directors had initially advised raising $1 billion and then scaling up the size (eve
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Former minister calls for pvt investments in infra sector
Former Minister of State for Urban Development Sougata Roy remarked that land acquisition is not the only problem in infrastructure projects. He said this while pointing out the need for private sector participation for financing the projects. Addressing a seminar on infrastructure development in the eastern and north-eastern states organised by the Beng
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Odisha’s mineral sector gets offer for aid from World Bank
Odisha State Director of Mines Deepak Mohanty informed reporters that a visiting delegation of the World Bank offered to provide technical assistance for development of mineral sector in the state. The multilateral body would provide support in the field mineral concession agreement, renewal of mining leases, grant of mining leases, socio-economic and envir
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Power Finance Corp to issue Rs 1.5 bn worth bonds
Power Finance Corp (PFC) considers to issue unsecured bonds worth Rs 1.5 billion, for which it received "AAA" rating by Crisil ICRA and CARE. The term of these bonds is six years and the corporation would pay 8.72 percent interest on the bonds. The structure of the bonds is such that they are redeemable in three equal installments. Each bond will offer
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RBI mulls launch of inflation-indexed bonds
Reserve Bank of India (RBI) considers to launch inflation-indexed bonds (IIBs) in order to attract investors who buy gold for protection against inflation. RBI Governor D Subbarao informed reporters that the central bank tries to redesign IIBs after its introduction some years ago failed to attract
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SBI, HDFC Bank trim lending rates
India's largest public sector lender State Bank of India (SBI) reduced its base rate to 9.70 per cent from 9.75 per cent with effect from February 4. But the bank kept its deposit rates unchanged as it feels
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Merchant bankers await earnings results of SAIL
Agency reports indicate that the merchant bankers appointed for disinvestment in Steel Authority of India (SAIL) would get a clear idea on the financial health of the firm after it announces its December 2012 quarter results in a few days. The government selected merchant bankers for SAIL share sale, including SBI Caps, Kotak Mahindra and Deut
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Majority of JSW Steel shareholders clear merger plan
In a communication to stock exchange, JSW Steel said it received approval from 99.99 per cent of shareholders in a recent meeting for merging JSW Ispat Steel with the company. Following this, the company awaits the approval of the Bombay High Court to complete the merger process