During 2012-13, a total of 10 companies raised a cumulative Rs 6,059 crore through initial public offerings (IPOs), data available with the stock exchanges show. This is a marginal rise of 4 per cent from the previous year, when 33 companies had together mopped-up Rs 5,808 crore. This is a far cry from a total of Rs 33,183 crore raised through IPOs in 2010-11 by 52 fir
Tag: finance
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Infrastructure sector faces funding constraints
Industry players complain that most sources of funding like private equity, capital market, bond issue, bank credit for infrastructure companies have dried up because of high risk perception in the sector. According to Suneet Maheshwari, MD & CEO, L&T Infrastructure Finance, private equity has been scarce and the capital market does not favour infrastructure comp
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Suzlon’s arm issues $647 million worth bonds
According to a company press release, the Dutch unit of Suzlon Energy, AE Rotor Holding BV, issued $647 million worth of bonds in order to reduce debt. The company would utilise the fund to repay loans as part of a debt restructuring deal with its creditors. Specifically, the proceeds of the bond sale would be used to refinance existing dollar-denominated foreign curre
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Govt clears Rs 732.77 cr FDI proposals
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 6, 2013, the government cleared six proposals of Foreign Direct Investment (FDI) amounting to Rs 732.77 crore approximately. The proposal includes the plan of Navayuga Road Projects , Hyderabad to act as an investing company and to m
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NHB issues Rs 6.4 bn worth tax-free bonds
RV Verma, Chairman and Managing Director of National Housing Bank (NHB) issued tax-free bonds worth Rs 644 crore NHB was authorized to raise Rs 5,000 crore through tax free bonds during 2012-13. It had room to mobilise upto Rs 3,750 crore through the recently concluded public issue. Verma informed that the company could have mopped up more funds through this route had it not been
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External debt expands 8.9% between March and December 2012
A government statement showed that the country's total external debt rose $30.8 billion or 8.9 percent to $376.3 billion as of December 31, 2012 from $345.5 billion at end-March 2012. The rise in the external debt is attributed to long-term and short-term components of debt. While trade related credits increased short-term debt of the country, long-term debt rose mainly on account of NRI deposits and c
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RBI defers Basel norms for currency derivatives
In a notification, the Reserve Bank of India (RBI) said it delayed the implementation of Basel-III regulations for currency derivatives segment to January 2014. The central bank postponed the implementation for the segment pending resolution of norms regarding trade settlement. But the RBI said the new capital adequacy requirements will be implemented from April 1. In view of the shift in the start date of Basel III implementation, all ins
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Tata Steel to issue dollar bonds to raise $1 bn
Media reports indicate that Tata Steel plans to rise $1 billion through issue of foreign currency bonds mainly to refinance loans. November 2009 was the last time the company raised dollar-denominated bonds. Besides this, the company would raise Rs 130 billion for its 6-million metric-tonne steel plant project in the eastern state of Odisha. The plant would be built in phas
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BRICS to set up development bank for infra projects
At the recently concluded BRICS summit in Durban, Brazil, Russia, India, China and South Africa decided to set up a development bank to finance infrastructure projects in these countries. But the countries have not decided the size of the proposed bank, leaving it to finance ministers to nego
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DHFL Vysya reduces interest rate on loan
From April 1, DHFL Vysya Housing Finance decided to reduce interest rate on advances across the spectrum for new as well as existing borrowers by 20 basis points. The company is an associate of Dewan Housing Finance and operates in south India. The Bangalore-based lender is the first housing finance company to announce lending rate cut this year, Managing director R Nambirajan said. At present, the company's lowe