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.
Category: Infrastructure Finance
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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.
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PSUs’ tax-free bonds lure retail investors
Posing a new threat to banks, which are already struggling with poor deposits growth, hundreds of investors are breaking their tradition of saving in bank fixed deposits to invest in tax-free bonds from State-run companies. High yields, being offered by the tax-free bonds are attracting the investors.
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ICICI Venture to raise Rs 1,685 cr
The proposed ICICI Venture infra fund, which aims to invest in assets such as roads, ports, airports and seaports and infrastructure companies, has secured investment commitments of up to $270 million (Rs 1,685 crore) from major companies like LIC.
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ICICI Venture to raise Rs 1,685 cr
The proposed ICICI Venture infra fund, which aims to invest in assets such as roads, ports, airports and seaports and infrastructure companies, has secured investment commitments of up to $270 million (Rs 1,685 crore) from major companies like LIC.
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India expects World Bank’s GIF to be ready by April
For its proposed Global Infrastructure Facility (GIF) that will finance core projects in emerging economies like India, the World Bank is expected to finalise the GIF's shape by next April, says an official in India's Finance Ministry.