The International Finance Corporation, the private sector arm of the World Bank Group, will invest $15 million in a foreign currency convertible bond issued by Ballarpur Industries Limited.
India's largest paper company Ballarpur Industries Ltd on Thursday announced a global depository receipts public issue to raise $30 million in the international market.
Anil Ambani-controlled Reliance Communication Ventures Ltd has become an over Rs 90,000 crore (Rs 900 billion) company going by the conversion price of its just concluded Foreign Currency Convertible Bonds.
Corporate India raised Rs 1,93,823 crore (Rs 1938.23 billion) in 2006-07 through debt, 88 per cent higher than the amount raised a year earlier.
In its first acquisition in Europe, Aurobindo Pharma Ltd today said it has acquired UK-based Milpharm Ltd, in an all cash deal, from Whyte Group and Iracot Ltd.
Armed with Rs 650 crore (Rs 6.50 billion) fund for acquisitions, Tata Group firm Indian Hotels Company said on Wednesday that it would open one Taj exotica resort in Mauritius.
The Foreign Investment Promotion Board is believed to have cleared Zee Telefilms' plan of raising $100 million as foreign currency convertible bonds subject to the condition that the company brings down total foreign shareholding to 26 per cent
India's second-biggest commercial vehicle maker Ashok Leyland plans to tap foreign markets to raise upto $100 million, a top company official said on Wednesday.
India said on Thursday domestic firms would be allowed to prepay existing foreign currency convertible bonds up to September 30, 2003.\n\n\n\n
The government on Tuesday cleared 34 foreign direct investment proposals worth Rs 617.28 crore, including Zee Telefilm's plans to issue Rs 480 crore foreign currency convertible bonds to two foreign companies.
Jindal Strips is believed to have struck a deal with the overseas private investors for picking up about 10% equity by acquiring its $15 million foreign currency convertible bonds listed at the Luxembourg Stock Exchange.
Mahindra & Mahindra Ltd has raised $100 million through the issuance of foreign currency convertible bonds with participation from European and Asian investors.
Auto major Tata Engineering has raised $90 million with a greenshoe option of $10 million by issuing foreign currency convertible bonds.
As many as 52 Indian companies raised money from external sources in October, of which $719.52 million was raised through automatic route for which no approval is required from the Reserve Bank of India or the government.
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
As many as 58 companies raised money from automatic route and 8 firms raised via approval route.
Till now borrowings in the form of ECB were not permitted to be utilised for general corporate purpose.
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