SKS Microfinance has stated that it has concluded a securitisation deal worth Rs 215 crore. With this, the total sum of securitisation completed for FY14 is Rs 616.81 crore, the company said in a statement on December 19.
Category: Infrastructure Finance
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Sundaram Mutual launches Select Micro Cap-Series I
Select Micro Cap-Series I, a five-year closed equity fund has been launched by Sundaram Mutual Fund. The scheme would be listed on the NSE and is benchmarked against the S&P BSE Small Cap Index. The scheme would invest at least 65 per cent in equity. There are opportunities to invest in all market conditions and Sundaram Mutual is known for unearthing these opportunities, the company said.
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Govt constitutes Cabinet Committee on Investments
The Union government has set up the Cabinet Committee on Investments (CCI) with the Prime Minister as the Chairman to promote accelerated and time bound decisions on grant of various licenses, permissions and approvals for implementation of projects.
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Govt to bring in investor-friendly FDI policy
Government has put in place an investor-friendly policy on Foreign Direct Investment (FDI), under which FDI, up to 100 per cent, is permitted, under the automatic route, in most sectors/activities. FDI policy is reviewed on an ongoing basis, with a view to making it more investor friendly, said the Uniion Minister of State in the Ministry of Commerce and Industry EM Sudarsana Natchiappan in Rajya Sabha on December 11.
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Shriram Equipment Finance to raise Rs 200 cr for growth plans
From private equity (PE) investors, Shriram Equipment Finance Company (SEFC) is mulling to raise about Rs 150-200 crore and rope in strategic investors. SEFC is a subsidiary of Shriram Transport Finance Corporation, which has an asset base of about Rs 56,000 crore.
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L&T to raise funds for its infra unit
To raise capital for its L&T Infrastructure Development Projects, the unit that builds roads, ports and other infrastructure, Larsen and Toubro (L&T), IndiaÂ’s biggest engineering company, is in talks with investors. The company is considering raising money from investors including sovereign and infrastructure funds by March.
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IIHFL to raise Rs 500 cr via NCDs
Through sale of non-convertible debentures (NCDs), India Infoline Housing Finance (IIHFL) is to raise Rs 500 crore, the company said on December 11. The NCDs matures in five years and offers a yield of 12.15 per cent per annum. The bond issue, which includes Rs 250 crore of greenshoe option, will open for subscription on December 12 and close on December 20.
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Govt banks’ top 30 NPAs account for one-third of bad loans
The Union Finance Minister P Chidambaram has said that top 30 loan defaulters of public sector banks (PSBs) account for more than one-third of total gross non-performing assets (NPAs) of State-run lenders. The Minister told this to the Rajya Sabha on December 10.
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UP’s 2nd budget of Rs 3,619 cr to fund infra projects
To fund infrastructure projects in the state like Lucknow Metro, Agra-Lucknow Expressway and rural electrification, the Uttar Pradesh government on December 10 tabled the current year's second supplementary budget of Rs 3,619.76 crore. In last September, the State government had tabled the first supplementary budget worth Rs 7,112.39 crore.
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Dena Bank’s 1st overseas office in London by Dec end
By the end of this December, government-owned Dena Bank is to open its first overseas office in London, the bank stated. It has govt approval from Reserve Bank of India and the government. The London branch will be a representative of the bank.