Media reports suggest that the government may infuse around Rs 20,000 crore into state-run banks in 2013-14 so that they comply with the capital adequacy conditions of Basel III norms. It is learnt that public sector banks (PSBs) have demanded the above amount for the next financial year from
Tag: capital
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Dewan Housing mulls Rs 40 bn fund raising
In a communication to the stock exchange, Dewan Housing Finance Corporation informed that it plans to mop up Rs 4,000 crore through debentures. Of the Rs 4,000 crore, a maximum of Rs 3,000 crore would be raised through private placement of secured debentures in one or
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Disinvestment secy expects Rs 270 bn from stake sale in FY13
Union Disinvestment Secretary Ravi Mathur informed reporters that the government may manage to mop up Rs 27,000 crore by offloading stakes in state-run firms in 2012-13. It may be recalled that the central government earlier set a target to raise Rs 30,000 crore through disinv
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Infra sector may attract PE fund if govt takes steps
According to a report by consulting firm Ernst & Young, infrastructure sector may attract private equity (PE) funds if the government takes steps, both policy and administrative, to boost investment activity in the sector. In its recently released private equity annual report titled ‘Second Innings – An industry in transition’, the firm said
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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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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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DP World’s business recast may facilitate fund raising
Some analysts and industry watchers feel that DP World has restructured its India operations in order to facilitate fund raising in the country, if required in future. Some analysts feel that the restructuring exercise is intended to raise the companyÂ’s valuation with an eye to tap the local capital market for funds
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JSW Steel, JSW Ispat convene shareholders meet
Following the directive by the Bombay High Court, JSW Ispat and JSW Steel convened a separate shareholder meetings in Mumbai to seek their approval for the proposed merger of both these firms. According to the merger proposal, every 72 shares of JSW Ispat would be exchanged for one equity share of JSW Steel. Institutional Investor Advisory Services advised shar