Bharti Airtel fumes over extension of bid deadline for Reliance Communications assets
While Bharti did not name the bidder, according to reports, Reliance Jio had sought extension of the November 12 deadline to make an offer under the ongoing insolvency proceedings for RCom's assets.
RCom, CoC extends bids submission deadline for company’s spectrum
The committee of creditors (CoC) for Reliance Communications (RCom) on Wednesday extended the deadline for submission of bids for the company's spectrum by 10 days.
Changes in regulation required for success fof Rs 25k-crore real estate funding
Sources with knowledge of the developments said that the fund created as an Alternate Investment Fund (AIF) will have a superior charge on both securities and the cash flows in a project in which it invests.
Policies to boost rental housing could attract capital in residential real estate
While the commercial sector in India enjoys annual rental yields in the range of 6-8%, yields in the residential sector are far more anaemic in a 2-3% range. Rental yield is defined as annual rent as a ratio of the property p
Southern States defying economic slowdown, here’s why
As per Nielsen's India FMCG Growth Snapshot for the quarter ended September 2019, the north India market has seen maximum impact of consumption slowdown, where volume growth remained almost flat at 1% versus strongest growth
Realty check: Home sales to stay quiet this Diwali
By one estimate, the unsold inventory across India is still upwards of 10 lakh units valued at a staggering Rs 6 lakh crore. Most developers are financially strapped and, therefore, struggling to either complete projects or c
Crisis-ridden Altico proposes to clear all dues in 4-5 years
The company, backed by global private equity investors – Clearwater Capital Partners, Varde Partners and Abu Dhabi Investment Council – has an underlying collateral value of around Rs 11,000 crore, against the total loans
Reliance Jio eyes 500 million subscribers by mid-2020
Reliance Jio aims to reach its targeted 500 million subscriber mark in less than 12 months against its earlier target of financial year 2022.
Piramal turns to securitisation of real estate loans to raise cash
Two subsidiaries— Piramal Capital and Housing Finance, and PHL Fininvest— are looking to raise over Rs 2,372 crore
Altico capital: New York-based Apollo Global makes preliminary offer of $150 million
New York-based private equity firm Apollo Global Management is understood to have made a preliminary offer to pump in $150 million as equity capital into Altico Capital India, the crisis-ridden wholesale non-banking finance c
Minimum alternative tax exemption: Investing in stressed companies is attractive
One of the provisions inserted in the recent tax amendments gives an option to domestic companies to pay tax at a rate of 22% (effective rate is 25.17% inclusive of surcharge and cess) subject to the condition that it does no
Mumbai realty developer dragged to NCLT by creditor
The Mumbai Bench of the NCLT has admitted the case under Section 7 of IBC against Lokhandwala – the builder of marquee luxury properties like Minerva in the south Mumbai neighbourhood of Worli, among others.
Changing tack: Tata Power set to become a services player
Like some of its global peers such as US-based Duke Energy or Italian multinational Enel, power producer and distributor Tata Power is looking to morph from a pure-play utility into a customer-focused business.
Share buybacks could be back on table after FM Sitharaman’s announcement on exemptions
With the changes in buyback regulations by Sebi and the exemption on buyback tax now, some of these issuances are expected to hit the market soon.
Earnings to consumer firms set to rise 5-12 per cent
According to Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, with the new effective rate of 25.17% tax saving for a sample of 3,446 listed companies could be at least Rs 44,000 crore, which is a substan
NHAI invites bids for 15 BOT road projects after 8 years
Package 1 of Tambaram-Chengalpattu-Tindivanam in Tamil Nadu is expected to have a project cost of Rs 3,309 crore which will be 24.5 km six-lane highway in Tamil Nadu.
Altico lenders ask private equity funds to infuse capital
Emails sent to ADIC remained unanswered till the time of going to press, while Varde declined to comment. Altico is understood to have appointed Alvarez & Marsal as process advisor a few days ago.
Lenders object to Altico CEO Sanjay Grewal’s resignation
The consortium of lenders to Altico had met on Monday to discuss the ongoing crisis in the NBFC. While there have been reports of appointment of a process adviser, bankers have told the company that such appointments cannot b
GST rebates, stamp duty cut needed for realty sector, says Niranjan Hiranandani
Unemployment in the real estate sector happens over a period of time, unlike automobile where stress will be visible on a quarter-on-quarter basis. Buildings take longer to complete.
Modi govt’s housing booster dose to impact only 91,000 housing units
Of these 1.6 lakh units, around 91,000 units have been sold to buyers who are waiting to get the possession of their houses, according to analysis of ratings and research firm PropEquity.
JSW Steel to go ahead with Rs 50,000 crore capex plan
“There are not many players expanding capacity. So, if you can create capacity by the time the industry looks up, maybe after 2-3 quarters, we are fine,” Rao said.
Realty industry welcomes Sitharaman’s announcements but wants more
Real estate industry officials said the last-mile funding for housing projects in affordable and middle-income housing through a fund targeted towards projects which are 60% complete and are non-NPA and not in NCLT will have
Aditya Birla Real Estate Fund: AMC to provide investors an exit option
The real estate fund has returned a total amount of `601 crore, which is approximately 57% of the initial investment to its investors.
Hinduja Ventures consolidation to help expand digital offerings in rural market
Speaking to FE, Vynsley Fernandes, CEO, IMCL, said the new structure in place should be able to improve margins by 400 basis points through unlocking the cost and capex synergies.
Talent crunch: 2.5 lakh high-end tech jobs up for grabs, but skilled candidates short in supply
According to a 2018 World Economic Forum (WEF) report titled ‘The Future of Jobs 2018’, the fourth industrial revolution will make 75 million jobs obsolete by the year 2022 but will also create 133 million new jobs — a
Road developers now keen to bid for viable BOT projects
Another road developer said that while NHAI should continue to offer projects on hybrid annuity model (HAM) and EPC, BOT should make a come back in stretches where there is potential for high traffic growth in busy commercial
Future Group to vie with Mukesh Ambani’s Reliance, Walmart for India’s grocery retail pie
Under a successful hybrid model, India’s online grocery penetration may move to about 6% as is the case in China and South Korea, which is a $30-billion opportunity, analysts said.
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