by Amruth Sundarkumar | Aug 25, 2022 | Corporates, India
Adani Group has been warned of being “deeply overleveraged” by Fitch Group company CreditSights in a report. It noted that the group’s debt funded growth plans could spiral into a massive debt trap in a worst-case scenario and lead to a possible...
by Amruth Sundarkumar | Aug 22, 2022 | Corporates, India
India’s Adani Power has agreed to acquire DB Power at enterprise value of INR 70.2bn ($879mn). DP Power owns and operates a running 2×600 MW thermal power plant at Chhattisgarh state. The transaction will be paid for by a cash consideration. DB Power has long and...
by Amruth Sundarkumar | Aug 18, 2022 | Corporates, India
India’s ReNew Power has got a $1bn consortium loan from 12 global lenders led by Netherland’s Rabobank. The loan is India’s largest external commercial borrowing (ECB) for a single project in the renewable sector and will be used for its hybrid Round-the-Clock (RTC)...
by Amruth Sundarkumar | Aug 18, 2022 | Corporates, India
India’s state-owned oil marketing companies’ IOC, BPCL, and HPCL short-term borrowings rose 17% to INR 730bn ($9.2bn) in the last fiscal, as per annual reports. The higher borrowings were attributed to increased working capital pressure on account of a price revision...
by Amruth Sundarkumar | Aug 17, 2022 | Corporates, India
ReNew Power signed a memorandum of understanding (MoU) with The Sovereign Fund of Egypt (TSFE), the General Authority for Suez Canal Economic Zone (SCZONE), and Egyptian Electricity Transmission Company (EETC) for $8bn to produce green fuels in the Sokhna Industrial...
by Amruth Sundarkumar | Aug 16, 2022 | Corporates, India
India’s state-owned refiner BPCL has planned a capex outlay of around INR 1.4tn (~$18bn) in the next five years for future expansion in sectors such as petrochemicals, gas, renewables, consumer retailing, E-mobility, and upstream, as mentioned in its recently released...
