Vedanta Resources plans to raise $500 million to refinance costly debt
The senior notes, issued via Vedanta Resources Finance II, will be guaranteed by parent VRL and subsidiaries including Twin Star Holdings, Welter Trading, and Vedanta Holdings Mauritius II. The deal, launched under Rule 144A/Reg S, is expected to be priced as early as September 30 with preliminary ratings of B2 (Moody’s) and B+ (Fitch), and […]
Post IPO, Tata Capital to have growth fuel for 3 years: CEO
Tata Capital’s ₹15,512-crore IPO, the largest from the Tata group, will dilute promoter stake by 11.21%. The company will not seek further equity dilution for 2.5-3 years, as the capital raised and profits will fuel growth. The IPO is priced below unlisted shares to attract a broad retail investor base.
Bond purchases by FPIs decline in September amidst rupee weakness
Overseas investors slowed Indian bond purchases in September, driven by caution over the rupee’s significant fall. The rupee, Asia’s worst-performing currency, hit a record low, eroding foreign portfolio returns. This led to a notable decrease in net inflows into fully accessible route government securities, reflecting investor concerns amid market uncertainties.