DCB Bank Ltd. invests in equity of India INX and India ICC. equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
DCB Bank announced that it has acquired equity stake in two companies based at Gift City IFSC at Gandhinagar.
The Bank has invested a sum of Rs. 5 crore representing approximately 2.89% of post paid up capital of India International Exchange (IFSC) (India INX).
The Bank has also invested a sum of Rs.5 crore representing approximately 4.93% of post paid up capital of India International Clearing Corporation (IFSC) (India ICC).
India INX and India ICC are promoted by BSE (BSE) and are the leading exchange and clearing corporation in the GIFT City IFSC at Gandhinagar. They are unlisted companies and are subsidiaries of BSE.
ReNew Power lists $585 million currency bonds on India INX
April 15, 2021
Fitch Ratingd has assigned BB- ratings for the bonds
In a first, ten subsidiaries of ReNew Power listed their 7.25-year $585 million foreign currency bonds exclusively on Global Securities Market of India International Exchange at GIFT IFSC on Thursday.
GSM, the primary market platform of India INX, has over 50 billion medium term notes established and over $26 billion of bond listings till date.
The 7.25 year maturity bonds have been assigned expected ratings of BB- (Positive Outlook) by Fitch Ratings and Ba3 rating by Moody’s investor services, and are priced competitively at 4.50 per cent.
Ten subsidiaries of ReNew Power Pvt Limited listed their 7.25 year $585 million foreign currency bonds exclusively on Global Securities Market (GSM) of India International Exchange at GIFT International Financial Services Centre (IFSC) on Thursday. The 7.25 year maturity bonds have been assigned expected ratings of BB- (Positive Outlook) by Fitch Ratings and Ba3 rating by Moody’s investor services and are priced competitively at 4.50 per cent. India INX, a subsidiary of BSE Ltd, commenced its trading activities on January 16, 2017 and is India’s first International Exchange set up at GIFT City. V. Balasubramaniam, MD and CEO, India INX said, “We welcome ReNew Power on India INX and take even more pleasure in welcoming them as they have established a gateway for other Indian issuers to list exclusively on India’s own IFSC. This firmly reinforces INDIA INX and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors.
The bonds have a tenor of 7.25 years and a fixed interest rate of 4.5% a year.
They will be issued by certain unnamed subsidiaries of ReNew Power and are due on 31 March 2028.
The company plans to utilise the proceeds to, among other things, repay outstanding debt.
ReNew Power said that in principle approval has been obtained for the listing and trading of the bonds on the India International Exchange. Tags