Hindustan Petroleum Corporation (HPCL) plans to raise around $350 million this year through issue of bonds to overseas investors, reports suggest. While the company is working on raising $400 million in external commercial borrowings (ECB), it plans to raise another $350 million through issue of bonds to overseas investors. HPCL is reportedly securing ratings for the bond issue
Category: Infrastructure Finance
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Gross NPAs of state-run banks rise
Minister of State for Finance Namo Narain Meena informed Lok Sabha that the gross non-performing assets (NPAs) of public sector banks have increased from 2.28 per cent in March 2010 to 4.01 per cent in September 2012. During the same period, the gross NPA (as a percentage of gross advances) of SBI Group, rose from 2.82 per cent in March 2010 to 5.16 per cent in September 2012,
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Ministry officials to discuss EPFO investment in IDF
Reports suggest that the officials of labour ministry and the finance ministry may soon discuss the issue of allowing EmployeesÂ’ Provident Fund Organisation to invest in infrastructure debt funds (IDF). Presently, EPFO is not allowed to invest a part of its Rs 5 lakh crore corpus in the IDF. It is learnt that the organisation, through the labour ministry, has already begu
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Primary mkt fund raising declines 41%
Data released by Sebi shows that fund raising by Indian companies through issue of equities and bonds in the primary market declined 41 per cent to Rs 9,483 crore in April-October 2012. During the year-ago period, the number was Rs 16,131 crore. Data shows that companies raised Rs 9,483.2 crore through 30 issues during Apr-Oct 2012 as against Rs 16,1
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Firms seek debt recast for 2nd time
More and more companies are applying for second round of corporate debt restructuring (CDR) because of their inability to service loans, a report by brokerage firm Prabhudas Lilladhar shows. The report shows that not only is the number of debt-restructuring proposals reaching CDR cell on the rise, the quality of cases is
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PE firms offload stakes in realty projects
Reports suggest that private equity funds that invested in IndiaÂ’s real estate sector during its best years in 2006 and 2007 are offloading their stakes in the projects. These funds are now looking to exit and return money to investors as they had an investment horizon of around five years. The latest to join the trend is Indiareit Fund Advisors whic
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Govt to take early decision on NIB
Finance Minister P Chidambaram informed Rajya Sabha that the government would take an early decision on the proposal to set up a National Investment Board (NIB) under Prime Minister Manmohan Singh. The board is intended to expedite clearances for mega projects. A proposal is under consideration for constitution of a Cabinet committee with Prime Minister as ch
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FIIs invest over $20.10 bn in equities
Data from Securities and Exchange Board of India (SEBI) shows that foreign institutional investors (FIIs) have deployed $20.10 billion in Indian equities in the January-November 2012 period. Reports suggest that this is the second time FII investment has risen to such a level after India threw open
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FIIs invest over $20.10 bn in equities
Data from Securities and Exchange Board of India (SEBI) shows that foreign institutional investors (FIIs) have deployed $20.10 billion in Indian equities in the January-November 2012 period. Reports suggest that this is the second time FII investment has risen to such a level after India threw open
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Model agreement to protect investors’ interest
The model tripartite agreement (TA), cleared by the government for financing of infrastructure projects would secure the interest of investors, experts argue. In October 2012, the Cabinet Committee on Infrastructure cleared the model tripartite agreement whic