In order to reduce its debt, GMR Infrastructure is in the process of offloading stake in some of its toll road projects. The company is reportedly in talks with potential investors such as Morgan Stanley Infrastructure Fund, Citigroup Venture Capital, SBI Macquarie and ICICI Venture to raise about Rs 1,800 crore through the stake sale
Tag: fund
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Assam gets Rs 125 bn outlay for FY14
For the financial year 2013-14, Assam received a plan outlay of Rs 12,500 crore which was cleared by the Planning Commission. This is 19 per cent higher than the allocation of Rs 10,500 crore in 2012-13. The outlay was agreed at a meeting of Assam Chief Minister Tarun Gogoi with Planning Commission Deputy Chairman Montek Singh Ahluwalia.
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STFC to raise Rs 20 bn via bonds
Shriram Transport Finance Company (STFC) decided to raise Rs 2,000 crore by the way of non convertible debentures in 2013-14 in one or more tranches. The company said this while announcing earnings results for the entire financial year 2012-13. Its net profit rose 8 per cent to Rs 1,361 crore year on year during 2012-13
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SBI sees relief in exposure to steel firms
In an interview to a leading media, Pratip Chaudhuri, Chairman of State Bank of India (SBI) said the bank's entire exposure to the steel sector which were either NPA or restructured have now become standard. The stress on the bank's asset in this sector got reduced because of improvement in the supply of raw material to steel companies. It may be noted that the sup
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Govt supports dredging projects of major ports
Union Minister for Shipping GK Vasan informed the Lok Sabha that his ministry provides budgetary support to major ports to undertake capital dredging projects. He said the three major ports i.e. Chennai, Ennore and Vishakapatnam have navigational channel having more than 17 metre draft and are capable of handling larger vessels. Also, the government has been providing subsidy to meet the cost of maintenance dredging in Kolkata Port whi
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Vizag port gets court notice on modernisation project
Visakhapatnam Port Trust received a notice from the Andhra Pradesh High Court, which is hearing a petition filed by the workers union against the port's plan to rope in a private party for modernisation and upgradation of facilities at the ore handling complex (OHC). It may be noted that the port invited global tenders for the project, which it intends to implement on design, build
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Banks exercise caution while lending to MFIs
While flow of bank credit to microfinance industry has recovered in the last two years, banks are said to be exercising great caution in choosing the right microfinance institution (MFI). Banks have become very selective in their funding decisions. They are looking for MFIs which are compliant with the code of conduct and with RBI norms, Mathew Titus
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Banks exercise caution while lending to MFIs
While flow of bank credit to microfinance industry has recovered in the last two years, banks are said to be exercising great caution in choosing the right microfinance institution (MFI). Banks have become very selective in their funding decisions. They are looking for MFIs which are compliant with the code of conduct and with RBI norms, Mathew Titus
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AP govt takes steps for right of way to metro project
Andhra Pradesh government is taking efforts to give right of way for the elevated Hyderabad Metro Rail project being executed by Larsen and Toubro. The state government is taking steps to shift utilities such as water lines, sewer lines, electrical overhead lines and underground cables, electrical poles, street lights, advertisement boards
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Govt , RBI took steps to boost investment
The Union Budget 2013-14 has outlined several initiatives to boost investment in infrastructure and industry, that inter-alia include encouraging Infrastructure Debt Funds, credit enhancement to infrastructure companies, raising the corpus of Rural Infrastructure Development Fund, introduction of investment allowance for new high value investments etc. Minister of State for Finance, Namo Narain Meena informed this in the Lok Sabha recently