Dredging Corporation of India (DCI) is issuing tax-free bonds worth Rs 500 crore and has offered a coupon rate of 6.47 per cent for qualified institutional investors, domestic companies and high net worth individuals. The coupon rate is 7.47 per cent for retail investors. The bonds are of 10-year tenure and 40 per cent of the issue is earmarked for retail investors
Tag: issue
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Tata Steel may raise funds from abroad for steel project
In order to fund its Rs 35,000 crore steel plant project in Odisha and also to reduce its debt, Tata Steel plans to raise $1 bn through issue of bonds in the international market by the end of March. The firm plans to raise fund through global bond issue because this may turn out to be a cheaper option for the expa
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Domestic firms raise funds via overseas bonds
So far in 2013, Indian companies raised $4 billion by issuing bonds in the international market in order to take advantage of lower interest rate compared with the domestic bond market. According analysts, India Inc may continue to tap the overseas bond market in order to meet their funding requ
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JNPT files prospectus for Rs 20 bn bond issue
Securities and Exchange Board of India (SEBI) received a request from the Jawaharlal Nehru Port Trust (JNPT) to allow it to raise a maximum of Rs 2,000 crore through tax free bonds. Earlier, the union finance ministry allowed JNPT along with Dredging Corporation of India (DCI) and Ennore Port to raise collectively Rs 3,500 crore through tax free bonds
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Ennore Port mulls Rs 10 bn worth bond issue
According to a draft prospectus filed by Ennore Port with market regulator Sebi, the port plans to raise upto Rs 5,000 million through issue of tax-free bonds with an option to retain over subscription upto Rs 5,000 million aggregating to Rs 10,000 million. The port, which is the only one among the 13 major ports controlled by the central government that is run as a com
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Ennore Port mulls Rs 10 bn worth bond issue
According to a draft prospectus filed by Ennore Port with market regulator Sebi, the port plans to raise upto Rs 5,000 million through issue of tax-free bonds with an option to retain over subscription upto Rs 5,000 million aggregating to Rs 10,000 million. The port, which is the only one among the 13 major ports controlled by the central government that is run as a com
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HUDCO to raise Rs 50 bn via bonds
In order to provide long-term funds for housing and urban infrastructure projects, Housing and Urban Development Corporation (HUDCO) decided to raise a maximum of Rs 5,000 crore through issue of tax-free bonds. The bonds, which are expected to hit the market in a few days, would be listed on the NSE. SBI Capital Mark
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HPCL to raise $350 mn via issue of bonds
Hindustan Petroleum Corporation (HPCL) plans to raise around $350 million this year through issue of bonds to overseas investors, reports suggest. While the company is working on raising $400 million in external commercial borrowings (ECB), it plans to raise another $350 million through issue of bonds to overseas investors. HPCL is reportedly securing ratings for the bond issue
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Board allows McNally to raise upto Rs 1.2 bn
In a move that may contribute to the business growth of McNally Bharat Engineering, the board of the company cleared the proposal to issue non-convertible preference shares of up to Rs 120 crore in one or more tranches. Consequently, the board also permitted the raising of the authorised share capital of the firm to Rs 160 crore from Rs 40 crore earlier. In a communication to the stock exchange, the company said i
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Ministry mulls steps to develop corporate bond mkt
In order to develop a vibrant corporate bond market, the union finance ministry is reportedly planning some steps in collaboration with Reserve Bank of India (RBI) and the ministry of corporate affairs (MCA). Media reports suggest that the ministry plans to give statutory liquidity ratio (SLR) status to corporate bonds in order to encourage banks to