In early-December, Air India had appointed global consultancy firm Deloitte to vet the SBI Caps-prepared financial restructuring plan.
Under the CDR package, the company has sought a debt-restructuring of Rs 2,800 crore, including Rs 1,800 crore for Maytas Infra and another Rs 1,000 crore for various special-purpose vehicles. Sources say the investment companies may have diverted the Rs 400 crore to Satyam Computers. "As per the account trail, this loan of Rs 400 crore was finally given to Satyam Computer, routing through these investment arms," sources close to the CDR package said.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
Women employees of SBI can now take two-year sabbatical leave from work for purposes like children's education.
The top executives who have put in their papers with immediate effect include Jet's chief executive officer (CEO) Vinay Dube, chief finance officer (CFO) and deputy CEO Amit Agarwal and company secretary Kuldeep Sharma.
Tata Motors, India's largest commercial vehicle maker, is in the process of raising Rs 5,000 crore through a bond issue to refinance the remaining $ 2 billion (Rs 10,000 crore) bridge loan it took to acquire Jaguar and Land Rover.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
Market regulator in talks with SBI Caps, UTI Infra for scrutiny and auction of properties.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
Sources involved in the bidding process confirmed that the entity had submitted a bid but expressed doubt over its acceptance
The government said on Monday there was no conflict of interest between Sterlite Group and Dalal Mott MacDonald, which was engaged by SBI Caps for valuation of residual stake in Balco.
The government is not in favour of selling UTI Mutual Fund to a private player and has insisted that one of the existing sponsors buy it by this fiscal.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
Chandresh Nigam will join Prudential-ICICI MF in July as senior fund manager (equity), and will report to Dileep Madgavkar, vhief investment officer.
Petronet LNG Ltd will float an initial public offering of 261 million shares, representing 34.8 per cent of the total equity of the company, around mid-February, P Dasgupta, director (finance), PLL, said in New Delhi on Friday.
While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
Power Trading Corporation will enter the capital market next month with its initial public offer to enhance capital by Rs 58.5 crore (Rs 585 million).
Petronet LNG Ltd, which will become India's first LNG importer when Qatari RasGas' cargo lands at its Dahej import terminal in January next, has planned an initial public offering of equity shares in the same month.
While Toyota will acquire 4.94 per cent shares of Suzuki, worth $ 908 million, the latter will make a $ 454-million investment in the biggest automaker of Japan. Premium products from the Maruti stable such as the Baleno, Ciaz and Vitara Brezza will be sold under the Toyota brand with small changes.
The O P Jindal Group company Jindal Steel and Power has begun talks with the State Bank of India, Punjab National Bank and Canara Bank for financing its Rs 550 crore (Rs 5.50 billion) expansion plan.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
To make space for the extra row, Vistara has opted for the smartLav concept offered by Airbus
However, the reduction in ATF prices will provide some cushion to airlines engaged in a protracted price war have lost control over pricing in one the world's most price sensitive domestic markets.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
At present, six A320 Neo of IndiGo & GoAir are grounded waiting for engine replacement
SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
For almost all the properties owned by Vijay Mallya, the reserve price has been marked down after the earlier attempts failed to attract bidders.
Kharola leads from the front. As a team player, he also uses technology to improve processes whether it is training or assessing metrics, a key trait that would help to improve service quality of the national carrier.
The airlines had pledged the trademarks as collateral with banks at the time of taking loans from them
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
The benchmark indices have rallied 28 per cent this year, while the broader market has outperformed
As many as 10 merchant bankers, including ICICI Securities and SBI Cap, had evinced interest in managing the stake sale.
In March this year, the banks tried to sell the Kingfisher House in Mumbai to recover a part of their dues.
Though Hero still leads by a wide margin in annual and monthly sales, for the first time, Honda has considerably bridged the sales gap with the Pawan Munjal-led firm in April lagging only by 12,134 units
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