Auto loan NPAs have increased six basis points to 1.16 per cent from 1.10 per cent in June 2019.
People want structural things to be addressed before they invest. The NBFC crisis is not redressed yet.
Financing arrangement likely by month-end: RIL in talks for Rs 5,000-crore loan to take over Alok Industries
RIL is in talks with State Bank of India, HDFC Bank and ICICI Bank for financing. RIL won the right to buy Alok Industries in the Insolvency and Bankruptcy Code process in March this year. The Ahmedabad bench of the NCLT had approved the sole RIL bid, made together with JM Financial Asset Reconstruction Co, which had promised to pay Rs 5,050 crore to take over Alok.
“There is a paradox in the bond market,” said Pratapsingh Nathani, Beacon Trusteeship.
New York-based $79 billion private equity firm Warburg Pincus is the largest shareholder with 43.5 per cent in the company.
Odisha Slurry owes financial creditors Rs 3,300 crore, of which Rs 2,350 crore is the principal amount.
The bank plans to raise $2 bn on a preferential allotment basis from eight investors.
The bank's board will meet again on December 10 to finalise and approve details of the preferential allotment.
As much as Rs 3,700 crore of the acquisition cost was supposed to have been funded by bank loans with Patanjali infusing Rs 600 crore from its own internal accruals. Bankers are also wary of funding the home-grown consumer goods company after rating downgrades by rating agencies Care and ICRA in October.
Ujjivan wants holding company shareholders to subscribe to the IPO and have reserved 10% for them.
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