
LIC-owned NBFC sets board meeting date to consider NCDs allotment. Details here
Dhanya Nagasundaram
Published 30 May 2025, 09:44 AM IST Mint Image
Paisalo Digital's board is scheduled to meet on June 3, 2025 to consider and approve the allotment of Non-Convertible Debentures (NCDs) through a private placement basis.

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Business Standard
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- Business Standard
Shapoorji Group bags $3.35 bn in largest private deal led by Deutsche Bank
The $3.35 billion financing was raised via 3-year NCDs at a 19.75 per cent annual yield, up from last year's 18.75 per cent when Goswami Infratech raised $1.7 billion in debt Rimjhim Singh New Delhi Deutsche Bank has planned the largest private credit transaction outside the United States by raising $3.35 billion for the Shapoorji Pallonji (SP) Group. The infrastructure conglomerate leveraged a portion of its Tata Sons stake as collateral, attracting commitments from major global investors, including BlackRock and Morgan Stanley, according to a report by The Economic Times. The financing was secured through three-year non-convertible debentures (NCDs) offering a 19.75 per cent yield, compounded annually and payable at maturity. This marks a rise from earlier debt issuances, which commanded yields approximately one percentage point lower. In 2023, SP Group's Goswami Infratech had raised $1.7 billion at an 18.75 per cent yield, the news report said. Deutsche Bank's significant commitment and syndication The $3.35 billion funding round brought together three distinct investor groups: existing bondholders of Sterling bonds, current investors in Goswami bonds, and a new cohort of private credit investors from the US, the UK, Hong Kong, Singapore, and India. Deutsche Bank spread its exposure across international credit funds, with BlackRock acquiring $70 million, Sona Capital investing $180 million, Morgan Stanley Investment Management putting in $60 million, and PIMCO contributing $45 million. This consortium totalled around $355 million, complemented by a separate $500 million investment from Ares Capital. Farallon Capital, a longstanding creditor to the SP Group, invested $596 million (approximately ₹5,100 crore). Other key participants included Davidson Kempner and Cerberus Capital, committing $401 million and $474 million respectively. Secured by stake in Tata Sons and real estate arms The debt is secured against SP Group's 9.2 per cent shareholding in Tata Sons, held through Sterling Investment, as well as assets in Shapoorji Pallonji Real Estate and SP Energy — the group's oil and gas business. This issuance, exclusively arranged by Deutsche Bank, represents the first large-scale corporate bond placement following changes in Foreign Portfolio Investor (FPI) norms, which now permit offshore investment under the general limit route instead of the more restrictive Voluntary Retention Route (VRR), the news report said. Regulatory changes and timing impact the deal Originally aiming for a March close, the transaction was completed six weeks later, delayed by geopolitical uncertainties. While part of the proceeds will refinance existing debt and support growth in SP Group's real estate and engineering, procurement, and construction (EPC) businesses, the deal is expected to transform capital access for large Indian conglomerates, the news report said.


Time of India
17 hours ago
- Time of India
India's forex reserves rise $6.992 billion to $692.721 billion in week ended May 23
Forex Reserves (AI image) India's foreign exchange reserves increased by $6.992 billion, reaching $692.721 billion for the week ended May 23, according to the RBI's Friday announcement. The overall reserves had previously declined by $4.888 billion to $685.729 billion in the week ended May 16. The reserves had achieved their highest level of $704.885 billion at the end of September 2024. The data released on Friday indicated that foreign currency assets, which constitute a significant portion of the reserves, rose by $4.516 million to $586.167 billion during the week ended May 23. The foreign currency assets, when expressed in dollar terms, reflect the changes in value of non-US currencies such as the euro, pound and yen that are part of the foreign exchange reserves. The country's gold holdings saw an uptick of $2.366 billion, reaching $83.582 billion for the week, according to the RBI. The SDRs (Special Drawing Rights) witnessed an increase of $81 million, totalling $18.571 billion, as reported by the central bank. According to the RBI data, India's position with the International Monetary Fund also strengthened by $30 million, standing at $4.401 billion during the reporting week. India ranks among the top 10 countries with the highest foreign exchange reserves in the world. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
18 hours ago
- Business Standard
Vedanta Ltd to raise Rs 5,000 crore via NCDs as profit surges in Q4
Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each on a private placement basis, as per a regulatory filing by Vedanta. "The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to Rs 5,000 crore," the filing said. The issue will be listed on the BSE. Mining major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to Rs 3,483 crore in the March quarter driven by lower production costs and higher volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period. The income of the company during the January-March period rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period, Vedanta had said in a BSE filing. As on March 31, 2025, the company's gross debt stood at Rs 73,853 crore. Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. Speaking with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end." Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel.