Vodafone Idea: Is in talks with banks to either refinance a portion of its loans or raise fresh debt to repay bondholders, said two officials aware of the matter. The company needs to repay ₹6,400 crore to bondholders starting December through March. This is in addition to the ₹14,000 crore of equity that the promoters are likely to infuse into the company.
Yes Bank: The board of Yes Bank will meet on 21 December to consider via issue of equity shares, depository receipts or other modes. The company said the approval of shareholders is valid till 28 February, 2022. Moody’s recently upgraded Yes Bank’s rating to B2 from B3, and changed the outlook to positive from stable.
heir stake in the shadow lender to investors led by Blackstone Group Inc. and Abu Dhabi Investment Authority. Sameer Gehlaut, who founded Indiabulls Housing 21 years ago, and his firms sold 11.9% in the company, bringing down their ownership to 9.8%. Gehlaut will resign from the board of the lender by the end of the fiscal year ending 31 March.
NBFCs: Reserve Bank of India (RBI) has rejected a plea by non-banking finance companies (NBFCs) for easing norms on income recognition, asset classification and provisioning. This will likely lead to a rise in bad loans at NBFCs. The central bank told NBFC lobby group Finance Industry Development Council (FIDC) that it intends to impose uniform prudential asset quality norms on all lending institutions and the demand for leeway can’t be accepted.
Wipro Ltd: Is likely to see an inflow of $146 million-$166 million on account of its re-inclusion in the BSE’s benchmark index, said brokerages. The software services major was excluded from the Sensex in December 2018 after a long period of underperformance.
The company has said it will raise ₹1,175 crore on 20 December through issuance of unsecured non-convertible debentures (NCDs) on private placement basis. The proceeds will be used to fund capital expenditure, refinance existing loans, and other general corporate purposes.
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