Cholamandalam Investment to raise Rs 300Cr: Cholamandalam Investment and Finance Company Ltd. is looking to raise around $54.73 million (INR 300 crore) through private placement, including by a qualified institutions placement. The proposed fund raising is to increase Tier I capital to meet the proposed Regulatory requirement. The company has received the approval from its board for the proposed fundraising. (BSE)
Corporation Bank to raise $36.48 million (INR 200 crore) via tier-I bonds: Corporation Bank Ltd. is looking to raise $36.48 million (INR 200 crore) through tier-I bonds on a private placement basis. The bonds will be unsecured, perpetual and non-convertible. The coupon rate is 9.29% per annum. The bonds has no put option and a call option can be exercised after 10 years. (Business Line)
IDFC to take majority share in Delhi-Gurgaon e-way: Delhi-Gurgaon expressway, lead banker of the project Infrastructure Development Financial Company (IDFC) is set to take it over by acquiring at least 74% share in the project. As per the model concession agreement (MCA) that governs PPP projects, the contractor can reduce its share from 100% to 26% two years after tolling starts and has to report to NHAI in case of any change in the shareholding. Delhi Gurgaon Super Connectivity Ltd (DGSCL) might completely exit the project. (The Times Of India)
Courtesy: VCCEdge
