bharti mobitel secures rs 125 cr
loan from rabo
bharti mobitel has raised a term loan of rs 125 crore from rabo
india finance to meet its commitment towards capital expenditure,
repayment of vendor credit and refinancing of short-term financing
the term loan is for up to 78 months and the
principal repayment will be made in 10 semi-annual equal
instalments which will commence on april 22, 2003.
bharti cellular, the wholly owned cellular arm of bharti
televentures, is raising a term loan of rs 250 crore from the
industrial development bank of india (idbi) and infrastructure
leasing and financial services (il&fs) to finance its new
rbi plans 20-yr bonds
bank of india is considering issuing bonds with maturity period of
20 years and above.
insurance regulatory and development authority chairman n
rangachary, who is part of the high-level committee, chaired by
rbi governor, said the long term bonds are part of efforts to
encourage long term savings through insurance and pension schemes.
$170 mn fdi cleared
new delhi: the cabinet has approved foreign equity
investment of $170 million in uttam steel ltd.
a proposal by the mumbai-based firm to induct 25 per cent foreign
equity aggregating $170 million was approved by the cabinet at its
meeting late on tuesday.
uttam steel ltd is engaged in the galvanising and cold rolled
steel business with a capacity of 250,000 tonnes a year.
the foreign equity is being inducted to enable the firm to
establish a manufacturing facility for automobile grade galvanised
products and raise its production capacity to half a million
lnj bhilwara seeks
rs 600 cr loan
new delhi: lnj bhilwara group has sought rs 600 crore loan
from icici, ifci and power finance corporation to part-finance the
192-mw allain duhangan hydro-electric power project in himachal
the group recently signed the implementation agreement with the
state government for the project and is gearing up to start work
on it by the end of this year.the project would be completed by
fipb rejects bhartis
new delhi: the government has rejected the foreign
investment proposals of bharti telecom ltd and bharti healthcare
ltd on the grounds that "round-tripping of fdi had negative
both bharti healthcare and bharti telecom have
shareholding in them by bharti global.
bharti global owns 3.3 crore shares in bharti healthcare and 24
lakh shares in bharti teletech, which has a scheme of arrangement
with bharti telecom.
both had approached the fipb for transfer of bharti globals
shares to indian continent investment ltd, a mauritius-based
wholly owned subsidiary of bharti global. both the companies had
explained that the transfers were being effected for strategic
21 nov 2001
proposals worth rs 203 cr cleared
new delhi: the government cleared foreign direct investment
(fdi) proposals of mobil petroleum of us, scotland-based standard
life investments, asea brown boveri, mitsubishi corp of japan and
us auto manufacturer ford motor and mobil petroleum.
these are among the 39 fdi proposals worth rs 203 crore cleared by
the foreign investment promotion board (fipb).
the rs 22 crore proposal of us-based mobil petroleum co inc,
involved in the manufacture of lubricant and specialty products,
is for increasing the foreign equity from 50 to 100 per cent.
the standard life investments rs 40.03 crore proposal is for
starting nbfc activities. the proposal involves increase in
foreign equity from 26 per cent to 39.90 per cent.
ford motor and japanese mitsubishi corporation's proposals for
amending the existing foreign capital were also cleared. both the
proposals did not involve any fresh inflow of fdi.
the major investment proposals pertain to chemicals and
petrochemicals, software development, isp and other it related
services, electrical industry, engineering equipment and
accessories, telecommunications and nbfc activities.
20 nov 2001
to give $455 m loans to india
tokyo: japan has decided provide india with 56 billion yen
($455 million) in loans for subway and power plant projects.
tokyo's loans are aimed at helping the indian government finance a
subway project in new delhi and coal power plant construction in
19 nov 2001
finance minister yashwant sinha has proposed creation of a special
fund which could open a concessional line of credit.
"the international investment fund will secure investible
funds at affordable costs for countries which otherwise have
relatively poorer access to international financial markets,"
he said at the international monetary and financial committee
meeting of the board of governors of the imf.
"this should come as an additive to the grants meant for
social development activities like education, health, sanitation
and drinking water, he added.
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