IVRCL has put up Rs 4,000 crore worth of assets for sale in order to come out of debt burden in the next two years once the sale is successful. The assets for sale include road projects (both operational and under construction) and desalination plant in Chennai.
Tag: debt
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Sanmar to raise Rs 250 cr to cut its debt
To cut its promoters' debt and expand its chemical business, Chennai-based chemicals-to engineering conglomerate Sanmar group will raise Rs 250 crore from American private equity fund Kohlberg Kravis Roberts (KKR).
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R-Infra to sell road projects to cut its debt
To cut down its debt burdern of about Rs 21,976 .18 crore, Reliance Infrastructure (R-Infra) is mulling to sell either all or most of its 11 road projects. R-Infra is a part of the Anil Ambani-led Reliance Group. R-Infra has appointed consulting firm EY or Ernst and Young, to oversee the sale.
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Essar Power to refinance debt via bond issues
In order to refinance past debt, Essar Power issued Rs 1,000 crore worth of rupee denominated bonds. Including this bond issue, the company has so far raised Rs 2,750 crore and it plans to raise another Rs 2,250 crore. With these bond issues, the power generating arm of the London-listed Essar Energy intends to refinance loans wort
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Borrowing of infra firms rises faster than revenue
Official data shows that the borrowing of 17 construction and infrastructure (C&I) companies that are part of the BSE-500 index has risen more than their revenue and net profit during the last five years since 2008. While borrowings of these firms rose a little over five times, to Rs 2.7 lakh crore since 2008, their revenue and cas
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Banks want easier implementation of SARFAESI Act
Some bankers suggest Reserve Bank of India (RBI) to bring about enabling framework for effective implementation of SARFAESI Act. Bankers argue that despite the existence of this act, they face difficulties at the field level in taking physical possession of mortgaged properties from defau
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RCap expects to reduce debt if given bank license
The debt-to-equity ratio of Reliance Capital would decline to 0.5 from 1.7 if the company manages to get banking license from Reserve Bank of India (RBI). It may be recalled that the central bank invited application for new bank licenses from corporates, non banking finance companies and other entities earlier. Follo
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Bank credit to infra sector rises
Bank credit to infrastructure sector rose over 100 times to Rs 786,045 crore in 2012-13 from Rs 7,243 crore in 1999-2000, Reserve Bank of India (RBI) said in its annual report. The report shows that credit exposure of banks to infrastructure sector has been deteriorating since 2011 owing to the economic slowdown and the emergence of sector-specific issues amid structural bottlenecks in the econ
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Banks adequately capitalised despite rising bad loans
In its annual report, Reserve Bank of India (RBI) said the banking system is adequately capitalised despite the rising trend in the gross non-performing assets (NPA). The gross NPA rose to 4.4 per cent of the total advances by March 2014 from 3.42 per cent a year ago.
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Rupee weakness puts upward pressure on interest rates
Interest rate in India is rising on the back of the steep decline in the value of rupee against the dollar in recent months. Experts feel that the depreciating rupee raises domestic interest rate through three ways. First, in order to discourage speculation in the currency market, Reserve Bank of India (RBI) tightens liquidity and raises shor