State-owned lender Indian Infrastructure Finance Company (IIFCL) plans to raise R1,500 crore through an issue of bonds. The issue will open on December 26 and closes on January 11. "We plan to raise R1,500 crore with green shoe option up to the shelf limit of R9,215 crore on first-come first-serve basis. These funds will be utilised to provide long-term funding to PPP projects in the sectors like power and infrastructure” IIFCL chairman and managing director SK Goel told reporters on Monday. The maximum tenure of the bonds will be 20 years. "Investors have an option to invest for 10 years, 15 years and 20 years," Goel said. The minimum amount of application is R5,000 with face value of R1,000 per bond. Retail investors will get 50 basis points higher return compared with other categories like QIB, HNI and corporates, Goel said.
Goldman Sachs hopes RBI will cut key rate
Goldman Sachs expects the Reserve Bank of India (RBI) to cut key interest rate by 25 basis points at its policy review on Tuesday after last week's inflation data came well below expectations, and as economic growth remains sluggish. The investment bank expects another 25 basis point cut in the repo rate in January, according to an email sent to clients on Monday. Goldman had previously forecast RBI would cut rates by 50 basis points in March. "With both growth and inflation surprising on the downside relative to RBI's forecast, there is a reason for
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