Reliance Industries (RIL) raised $487 million through external commercial borrowings (ECB), the highest amount among 81 companies which went for ECBs in June. RIL borrowed the amount for a tenure of 13 years and five months for import of capital goods. Besides, RIL, Uttam Galva Steels borrowed $180 million, the second largest amount, for refinancing of rupe
Tag: capital
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IRDA revises lending norms of insurance firms
The Insurance Regulatory and Development Authority (IRDA) decided to exclude lending by insurance firms to housing finance companies as exposure to the finance sector. In a statement, the insurance regulatory body said these loans would be henceforth treated as funding to the hous
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Karnataka Bank aims to clock Rs 780 bn business in FY14
In 2013-14, Karnataka Bank expects to clock a total business turnover of Rs 78,000 crore, which includes Rs 45,500 crore of deposit and Rs 32,500 crore of advances, the bank said in an official statement. The private sector lender, which completed 90 years of operation, also informed that it would widen its branch netw
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PE funds raise capital to finance business
Data from media reports indicate that 12 private equity funds are raising at least $6.6 billion for investment in Asia. Reports indicate that a substantial part of this amount would be invested in Indian businesses. The financing by private equity investors would meet the funding requ
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Overseas bond issuance of Indian firms rises
According to an estimate by RBS India, Indian companies may issue $ 15-17 billion worth of foreign debt in 2013. Already, India Inc raised $12.5 billion worth of capital through issue of foreign debt in Jan-Jun 2013. It may be noted that during the entire year of 2012, Indian firms raised $14.5 billion worth of funds through foreign debt
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Govt plans various projects in port sector during 12th plan
The capacity of all Major Ports as on March 31, 2013 was 744.91 million metric tonne (mn t) against the traffic of 545.79 mn t handled in 2012-13. This information was given by the Minister of Shipping GK Vasan in a written reply in the Lok Sabha. The capacity utilization is around 72 percent. As per the internationally accepted norms the gap between the Traff
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Mfin discussing future course of action
Microfinance Institutions Network (Mfin), the industry body of microfinance firms, is discussing the future course of action to tide over the huge debt burden haunting the sector. Earlier, Reserve Bank of India (RBI) rejected Mfin's request to restructure the loan repayment of five heavily indebted microlenders under the corporate debt rest
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FIIs buy govt stake in state-run firms
The government raised about Rs 23,830 crore offloading stake in 7 state-run firms during 2012-13. 39 percent of this amount came from FIIs, union government said in a press release. Only about 25 percent came from Insurance Companies including LIC and less than 10 percent from banks including Public Sect
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Promoters, investors prefer debt instruments
Media reports indicate that promoters of Indian companies are increasingly preferring to raise funds through debt and investors are also willing to offer it through structured deals or their NBFC arms that could either be a part of their investment group or backed by them. Compared to equity funding, these investors prefer to deploy in debt instruments, reports indicate
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CDR cell refuses to take up Rs 70 bn loan recast plan of Electrosteel
Agency reports indicate that the CDR (corporate debt restructuring) cell refused to consider the CDR request of Electrosteel Steels for its Rs 7,000-crore loan. This is because the company did not adhere to the terms of the proposal, including fresh capital infusion and corporate guarantee that promoters are supposed to bring to the table. Therefore, the consortium of 27 banks dela