Swift India was formed in 2012 as a joint venture between the global cooperative Swift Scril and nine leading domestic banks.
A 23-member bank consortium, headed by the State Bank of India, has approved the proposal for implementing S4A for the company. The case is now pending with the Oversight Committee (OC) for S4A clearance.
London-headquartered metals and mining company Vedanta, in a move to refinance its debt, may raise up to USD 750 million by selling dollar bonds to overseas investors. Jain Irrigation (JISL), too, may raise up to USD 250 million via same route, reports Economic Times.
Sterling saw its biggest daily rise since at least 1998 on Tuesday as Prime Minister Theresa May promised a parliamentary vote on Britain's deal to leave the EU and sought to draw a line under discussion of a "hard" or "soft" Brexit.
Concerns over US President-elect Donald Trump's protectionist policies are also undermining risk sentiment, helping to push up the yen back to its highest levels in more than five weeks.
Regional share markets were hesitant. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5 percent, Japan's Nikkei lost 0.6 percent and Shanghai shed 1.4 percent.
The abrupt ban on Rs 500 and Rs 1000 notes may have inconvenienced thousands, but the government is likely to follow it up with plans to support electronic transactions, including possible tax benefits for payments made through plastic money.
Avendus Finance provides customised financing solutions to its corporate clients through structured debt, mezzanine, high-yield products and assists in capital structuring as well as arranging optimal financing solutions.
L&T shares worth Rs 4040.41 crore as per Thursday's closing price are expected to be sold on November 4.
Grab said the funds would be used to continue expanding into the highly lucrative Southeast Asian market, particularly in Indonesia. The company said in the first half of 2016, its GrabCar and GrabBike services grew by 250 times on-year in Indonesia.
Being an unrated instrument, the company had to price the 37-month issue at 8.57 percent. Against this, HDFC's Rs 3,000-crore issue last month with same maturity was priced much lower at 7.975 percent.
The eight merchant bankers, which include SBI Capital Markets, Axis Bank and Edelweiss, will make presentation before the officials of the department of investment and public asset management (DIPAM) on Tuesday.
Sources say bidding for the digital contract might begin by March 2017 and top information technology (IT) vendors like TCS, Infosys, Wipro and HCL Technologies are expected to bid.
The other bankers who are in fray are SBI Capital Market Ltd, IDBI Capital Markets and Securities, ICICI Securities, IDFC Bank, Axis Capital, YES Bank and Edelweiss Financial Services, according to the Department of Investment and Public Asset Management (DIPAM).
Recently, the Insurance Regulatory and Development Authority of India (IRDAI) has allowed banks to tie up with a maximum of nine insurers from three segments life, non-life and standalone health insurers as part of the new bancassurance guidelines.
"Citibank, with no warning or communication, says that it is going to close the Central Bank and Bank Of Venezuela account. That is what you call a financial blockade," the embattled president said in televised remarks.
Goods & Services Tax (GST) Bill, good monsoon as well as expected growth in agriculture could boost India‘s gross domestic product (GDP), says Samir Arora, Founder & Fund Manager, Helios Capital.
Pronab Sen, Former Principal Adviser of Planning Commission, said there will be more acceleration in the following quarter. Other experts also weighed in on India's GDP growth which accelerated to 7.9 percent in the March quarter.
The government has proposed to put up about 39.64 crore shares through Offer for Sale(OFS) and fetch an estimated Rs 3,600 crore at current market price.
Samiran Chakraborty, Chief Economist, Citibank, says India will continue to recover among the emerging markets, but a slow growth in global economy will be an external headwind for the country.
Suresh Prabhu, who had gone to London last week at the invitation of UK government, met Oliver Letwin, Chancellor of the Duchy of Lancaster and UK Minister in charge of cabinet affairs.
Dalal Street is set to see a flood of IPOs with the Kota-based Resonance Eduventures, which operates coaching classes, filing for an IPO.
With the initial public offering (IPO) pipeline finally flowing, the market has seen an eclectic mix of issues come to the fore.
China's 2 percent devaluation on Aug. 11 added to evidence that its economy was struggling, and overseas it caused a ripple of panic that a currency war was in the offing.
As many as 10 merchant bankers had made a beeline for managing IOC stake sale and the disinvestment department has shortlisted five from them. Besides Citibank and Nomura, others who have been shortlisted include Deutsche Bank, Kotak Bank and J M Financial, sources said.