by Amruth Sundarkumar | Nov 25, 2022 | Corporates, India
Adani has planned to raise $5bn in equity capital in an attempt to silence criticisms that it has been subjected to – high leverage, limited investor base and low stock liquidity. The capital raise is touted to help them deleverage and reduce debt ratios that...
by Amruth Sundarkumar | Nov 24, 2022 | High Yield Bonds, India
Vedanta Ltd. announced an interim dividend of INR 17.5/share ($0.2/share) amounting to INR 65bn ($797mn), along expected lines. The large dividend by the Indian subsidiary will help its parent Vedanta Resources boost its debt refinancing efforts. Vedanta Resources has...
by Amruth Sundarkumar | Nov 17, 2022 | High Yield Bonds, India
Shriram Transport Finance accepted $251.83mn of its 5.1% 2023s that were tendered by its bondholders under a buyback that was launched on October 17. Of the total amount tendered, $247.53mn had already been tendered by the early deadline of October 28 and another...
by Amruth Sundarkumar | Nov 16, 2022 | Corporates, India
Vedanta denied rumors of exiting its steel business by confirming their prioritization of the expansion of Electrosteel Steels Ltd (ESL) from 1.5mn tonnes to 3mn tonnes. This comes after an ET report had mentioned that Vedanta was rumored to be selling-off ESL to...
by Amruth Sundarkumar | Nov 11, 2022 | Distressed / Defaulted Bonds, India
Future Retail is said to have received an acquisition interest from Reliance Industries, Adani Group and 13 other companies including Shalimar Corporation, Nalwa Steel & Power, United Biotech, WHSmith Travel, Capri Global Holdings, as per Reuters. The companies...
by Amruth Sundarkumar | Nov 7, 2022 | Corporates, India
Adani Enterprises’ net profits rose 117% YoY to INR 4.6bn ($55.5mn) in the quarter ended September. Its revenues almost tripled to INR 381.8bn ($4.7bn) with several of its businesses including its airports and mining that performed. However its total expenses...
