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PGCIL lowest bidder for Rs.6,300-cr Vemagiri II proj

PGCIL lowest bidder for Rs.6,300-cr Vemagiri II proj

Power Grid Corporation Ltd (PGCIL) has emerged as the lowest bidder for Vemagiri II power transmission project of around Rs.6,300 crore in a tariff-based auction. For Vemagiri II project, PGCIL has bid very aggressively and quoted Rs.359 crore annual tariff per annum followed by Sterlite Grid (Rs.429.05 crore), Essel (Rs.459 crore) and Adani (Rs.585 crore).

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Stocks & Barrels

Stocks & Barrels

It´s raining good news for the Indian economy. Credit Suisse has said that India will witness the fastest dollar nominal growth in 2015. And falling oil prices are proving to be a major windfall for the country.

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REC to raise funds for RE projects

REC to raise funds for RE projects

Rural Electrification Corporation (REC) plans to raise funds from Germany's development bank Kreditanstalt fur Wiederaufbau (KfW) for financing renewable energy (RE) projects. REC had earlier received about Eur100 million loan from KfW. REC has reported a 19.5 per cent growth y-o-y in net profit for the third quarter backed by strong revenues.

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REC plans to mop up around Rs 350 bn in FY14

REC plans to mop up around Rs 350 bn in FY14

In 2013-14, Rural Electrification Corporation (REC)
plans to raise about Rs 35,000-37,000 crore from domestic as well as foreign sources. It may be recalled that the leading state-run infrastructure finance company in the power sector mopped up Rs 31,000 crore in 2012-13. Of the Rs 35,000-37,000 crore that the firm plans to raise in 2013-14, about Rs 5,000 crore may be raise

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REC to sell Rs 15 bn worth 5-year bonds

REC to sell Rs 15 bn worth 5-year bonds

Rural Electrification Corp is in the process of issuing Rs 1,500 crore worth five-year bonds in order to raise capital for funding power projects. The state-run lender has fixed an annual coupon of 8.70 per cent for the bonds. It may be noted that the financial institution scrapped the plans of raising funds in the s

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REC to raise $500 mn via ECBs

REC to raise $500 mn via ECBs

Rural Electrification Corporation (REC) is in the process of raising $500 million through external commercial borrowings or ECBs. The company is said to have invited bids for ECBs and whosoever offers the cheapest rates would be selected, Rajeev Sharma, Chairman and MD of REC said. So far in the current fiscal, the company has raised and disbu

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Issurers unsure of retail participation in bond issue

Issurers unsure of retail participation in bond issue

Issuers are not sure whether there would be sufficient participation from retail investors for their tax-free infrastructure bond issues in order to meet the regulatory requirement. According to government norms, issuers must raise at least 40 percent of the capital mopped up through public bond issue from retail

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