ICICI Bank has challenged Mumbai International Airport’s (MIAL) proposed rights issue, citing violations of prior agreements and potential dilution of lender interests. The bank’s suit in Bombay High Court argues the issue breaches terms that protect pledged equity against dilution without consent. This dispute arises from loans secured by a stake in MIAL, now threatened by the rights issue.
Bond supply may outweigh demand, push yields higher
Bond yields in India are anticipated to increase in the latter half of this fiscal year. This rise is primarily due to higher government borrowing