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
Tag: issue
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NMDC to decide on subscribing Legacy’s rights issue
Media reports indicate that National Mineral Development Corporation (NMDC) would decide on whether to participate in the rights issue to be offered by Legacy Iron Ore, in which the former holds 49.6 per cent stake. Legacy Iron Ore is the Australian arm of NMDC, which is the largest shareholder in the former. Some reports indicate that NMDC would acquire rights equivalent to its 49.6 per cent stake in Legacy Iron Ore by s
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L&T gets top rating from CRISIL for bond issue
Considering its strong financial position and market leadership, CRISIL gave 'CRISIL AAA/Stable' rating to Larsen & Toubro (L&T's) Rs 100 crore inflation linked capital indexed non-convertible debenture issue. L&T got this top rating owing to its diversified revenue profile, strong financial flexibility, and its dominant position in the engineering and construction (E&C) market in
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IOC issues Rs 17 bn worth bonds
According to a company statement, Indian Oil Corp (IOC) mopped up Rs 1,700 crore through issue of Secured Redeemable Non-Convertible Bonds instead of the original size of Rs 500 crore. It is learnt that banks, insurance companies, primarily dealers, mutual funds, financial institutions, among others, have
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Muted response to bond issues attributed to weak mkt condition
Union Shipping Minister GK Vasan informed Lok Sabha that some ports in the country received muted response for their tax-free bond issues mainly on account of weak market sentiments and low coupon rates. While Jawaharlal Nehru Port (JNPT) wanted to raise Rs 2,000 crore through issue of tax-free bonds, the actual subs
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Muted response to bond issues attributed to weak mkt condition
Union Shipping Minister GK Vasan informed Lok Sabha that some ports in the country received muted response for their tax-free bond issues mainly on account of weak market sentiments and low coupon rates. While Jawaharlal Nehru Port (JNPT) wanted to raise Rs 2,000 crore through issue of tax-free bonds, the actual subs
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Companies raise more funds via foreign bonds
Media reports indicate that Indian companies raised funds through bond issue almost three times more in Jan-Mar 2013 from the previous quarter. Data from an international media shows that Indian companies sold $6.3 billion of bonds abroad during Jan-Mar 2013, almost triple that of the previous quarter.
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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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2012-13 sees Rs 60 bn worth of IPOs
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
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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