Govt to auction Rs 25,000 crore in government securities on July 11
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Business Standard
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- Business Standard
India's 3rd largest airport operator eyes Oct close for over $500 mn bond
BIAL will raise the funds through its second tranche at a similar rate as the first transaction Reuters MUMBAI India's Bangalore International Airport Ltd (BIAL) plans to raise over Rs 46.3 billion ($535 million) via a second tranche of bonds by early October, three sources told Reuters on Monday. Earlier this month, the company which operates the country's third-busiest airport, raised Rs 43.62 billion through the sale of 15-year bonds at a coupon of 8.15 per cent payable on a monthly basis. BIAL will raise the funds through its second tranche at a similar rate as the first transaction, the sources added. All the sources requested anonymity as the talks are still private. The company did not immediately respond to a Reuters email seeking comment. The bonds are rated AAA by Crisil Ratings, India Ratings and ICRA. SBI Capital Markets was the arranger of the previous issue, and will also be the arranger for the second tranche, two of the sources added. The planned bond issue will also be of 15-year maturity and will be privately placed and will not be auctioned on the electronic bond platform like the first tranche, the sources said. "The deal was closed with wide participation from banks, insurance companies and infrastructure focused funds," said one of the sources. The money raised will be used for refinancing of existing debt and new capital expenditure, the person said. BIAL is planning to undertake capital expenditure worth Rs 155 billion over financial years 2026 to 2030 for capacity expansion, according to an ICRA report. This is expected to increase its passenger handling capacity to 80-85 million each year from 51.5 million passengers per annum currently. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
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Time of India
28 minutes ago
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Stock Radar: ICICI Bank hits fresh record highs in July. Time to book profits or buy any dip?
ICICI Bank Ltd, a key player in the private banking space, has been in an uptrend since testing its 50-week moving average in February 2025. Recently, it broke out of a 14-week consolidation range on the weekly traders can consider buying the stock for a target of Rs 1,570 over the next 3–4 weeks, according to stock was stuck in a range of Rs 1,400–1,480 since April 2025. Recent momentum helped it break out of this
