India Inc raises $1.69 bn from overseas markets in Mar
The Dollar Business Bureau India Inc has raised $1.69 billion from foreign markets in the month of March this year, an increase of 11.6% compared to a year ago. Domestic companies had raised $1.52 billion via external commercial borrowings (ECB) in the month of March last year. An extra $1.65 billion was mopped up via rupee-denominated bonds (RDBs), a type of bond permitted by the Reserve Bank of India (RBI) in 2016 for firms to float such type of bonds in foreign markets to raise funds only. The data is incomparable to RDBs mop-up. The major borrowers that went through the RDB route were HDFC - raised $758.99 million for the purpose of on-lending, Sembcorp Gayatri Power – raised $523.80 million to refinance rupee loans and ...
Sembcorp, Gayatri to double power capacity at Krishnapatnam
The Dollar Business Bureau Singapore-based diversified company Sembcorp and Hyderabad-based infrastructure company Gayatri power, which has already 2,640 MW thermal projects at Krishnapatnam in Andhra Pradesh, are planning to double the power generation capacity with an investment of around Rs.12,000 crore. Sandeep Kumar Reddy, Managing Director of Gayatri Projects, feels that there is a possibility to invest Rs.10,000 to Rs.12,000 crore to double the power capacity in the next five years as they have sufficient land. For a while, the existing land-thermal power complex in Andhra Pradesh of almost 2,600 acres is enough for development. The process has started to consider doubling the power generation capacity that will take the capacity to 5280MW. They have invested around Rs.20,000 crore on this expansion plan. Sembcorp ...
