Alternate Investment Funds may soon be flush with money after the RBI notified that NRIs and foreign portfolio investors (FPIs) will be allowed to invest and trade in this category of funds.
Category: Infrastructure Finance
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Essar Ports successfully delists at Rs.133 per share
The Ruias-controlled Essar Ports Ltd will cease to exist as a publicly traded company as its promoters have successfully delisted the firm. JM Financial Institutional Ltd, manager to the delisting process, said that the delisting offer would be deemed to be successful. The delisting price was fixed at Rs.133 a share.
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Cochin Shipyard to raise Rs.600-700 cr
Cochin Shipyard, which recently received Cabinet clearance for an initial public offering, is planning to raise Rs.600-700 crore to support the company´s Rs.2,500 crore investment in the ship repair facility and a new dry dock.
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MIAL eyes development fee to fund two metro stations
Mumbai International Airport Limited (MIAL) has approached the Airports Economic Regulatory Authority (AERA) with a plea to levy a development fee of `50 per embarking domestic passenger and Rs.100 per embarking international passenger.
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Exemplary Figure
Former RBI Deputy Governor Subir Gokarn has been appointed as an Executive Director on the board of the International Monetary Fund (IMF).
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Versatile Genius
SREI Infrastructure Finance Vice-Chairman Sunil Kanoria assumed charge as the president of industry body Associated Chambers of Commerce and Industry of India (Assocham). Vice-Chairman Sunil Kanoria assumed charge as the president of industry body Associated Chambers of Commerce and Industry of India (Assocham).
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AMRC urges state govt for Rs.500 cr
The Amaravati Metro Rail Corporation (AMRC) Managing Director Ramakrishna Reddy has urged the government to take immediate measures for release of funds to the tune of Rs.500 crore.
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SC asks Vodafone to deposit Rs.2,000 cr
The Supreme Court directed Vodafone India to deposit Rs.2,000 crore with the department of telecommunications, paving the way for the phone company to go ahead with a three-year-old process to merge six group units amid a plan to revive an initial public offering (IPO).
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PGCIL lowest bidder for Rs.6,300-cr Vemagiri II proj
Power Grid Corporation Ltd (PGCIL) has emerged as the lowest bidder for Vemagiri II power transmission project of around Rs.6,300 crore in a tariff-based auction. For Vemagiri II project, PGCIL has bid very aggressively and quoted Rs.359 crore annual tariff per annum followed by Sterlite Grid (Rs.429.05 crore), Essel (Rs.459 crore) and Adani (Rs.585 crore).
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Japan offers India $15-bn for bullet train project
Japan has offered to finance India´s first bullet train, estimated to cost $15 billion, at an interest rate of less than a per cent, officials said, stealing a march on China, bidding for other projects on the world´s fourth-largest network.