“RBI’s notification on enabling FPIs to invest in debt securities of REITs and InvITs will open up the fundraising avenues as REITs and InvITs have a constant requirement of patient capital for acquisition and to scale their portfolio up,†said Sigrid Zialcita, chief executive of the Asia-Pacific Real Estate Association.
"We do not foresee any capital requirement for lenders going forward. They all have plans to raise capital from the markets," said a government official, adding that this year allocation will be done by the end of March.
The mandate is being sought based on an internal assessment by lenders led by UCO Bank that the promoters - the Kanoria brothers - allegedly diverted money borrowed from banks to infuse equity in the subsidiaries, the officials said.
The Tata Motors-owned British carmaker has taken production shutdown at its plants in Nitra (Slovakia) and Solihull (the UK) between October 25 and 29, while the plant in Graz (Austria), which is owned by its partner Magna Steyr, will witness no-production days on October 25 and 26, and November 1 and 2, people familiar with the development told ET.
AAI has decided to club seven small airports with six big ones--Varanasi with Kushinagar and Gaya; Amritsar with Kangra; Bhubaneswar with Tirupati; Raipur with Aurangabad; Indore with Jabalpur; and Trichy with Hubli.
Tesla CEO Elon Musk is now worth more than Exxon
The asset is being monetised through a price-discovery mechanism and there was no reserve price set for the property spread over 10 floors. However, the IL&FS board had estimated the property might fetch around Rs 1,200 crore.
Accepting the Directorate of Revenue Intelligence (DRI) plea to hear the cases against Adani group firms on a case-to-case basis, a Customs, Excise & Service Tax Appellate Tribunal (CESTAT) on Monday commenced its hearing on the appeal filed by the department against the relief granted to two of the Adani group companies by an order quashing over-invoicing allegations against the firms.
“As we record our highest sequential growth in a decade, we remain committed to delivering long-term sustainable and profitable growth for the company,†Chief Executive Officer CP Gurnani said.
Consolidated revenue for the fiscal first quarter stood at Rs. 6,877 crore, up 8 per cent on-year and consolidated earnings before interest tax depreciation and amortization (EBITDA) increased 17 per cent to Rs 3,641 crore.
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