Latest news with #Non-ConvertibleDebentures
Business Standard
2 days ago
- Business
- Business Standard
Board of Satin Creditcare Network approves NCD issuance of Rs 5,000 cr
At meeting held on 27 June 2025 The Board of Satin Creditcare Network at its meeting held on 27 June 2025 has approved the proposal to raise funds by way of issuance of Non-Convertible Debentures (NCDs) upto Rs 5,000 crore in one or more tranches through private placement basis.
Time of India
2 days ago
- Business
- Time of India
Andhra lacks fiscal discipline, picks up debts through NCDs at high interest rate: Ex-CM YS Jagan Mohan Reddy
Former Chief Minister YS Jagan Mohan Reddy has accused the current Andhra Pradesh government of financial mismanagement. He claims the state is in trouble due to a lack of fiscal discipline and disregard for the Constitution. Reddy highlighted the Andhra Pradesh Mineral Development Corporation's (APMDC) issuance of Non-Convertible Debentures (NCDs), or bonds, at a 9.30% interest rate. He stated this is 2.60% higher than the prevailing State Development Loan (SDL) rate. In a social media post addressed to Union Finance Minister Nirmala Sitharaman and the Prime Minister's Office, Reddy said that APMDC concluded its second NCD issuance, raising Rs 5,526 crore and bringing the total to Rs 9,000 crore on Wednesday, June 25. — ysjagan (@ysjagan) According to Jagan, 'The govt went ahead with the issuance of NCDs despite the matter being admitted by the AP High Court and notices served. It is quite apparent that the proceeds of the issuance would be utilized for financing government revenue expenditure.' Reddy explained that the current government is allowing private companies to access the state's consolidated fund through a Reserve Bank of India (RBI) direct debit mandate. He argues this allows private parties to withdraw funds from the state treasury without state government official oversight. He believes this violates articles 203, 204, and 293(1) of the Constitution of India. Reddy also criticised the government for mortgaging mineral wealth worth Rs 1,91,000 crore for NCD issuances totaling Rs 9,000 crore. Live Events He estimates the high interest rate will add Rs 235 crore to APMDC's yearly expenses, with the NCDs having a 10-year term. He claims that the current government's borrowing in the last 13 months has exceeded 50% of the borrowing done by the previous government over five years.
Mint
2 days ago
- Business
- Mint
PNB Housing board sets meeting date to consider ₹10000 crore fundraise
Stock Market Today: PNB Housing on Friday, June 27, announced that its board will meet next month to consider a fundraising plan worth ₹ 10,000 crore. PNB Housing Finance Limited in a release on the stock exchanges said that a meeting of the Board of Directors of the company is scheduled on Wednesday, July 02, 2025. During the aforementioned meeting, among other things, the proposal to raise funds to the tune of ₹ 10,000 crore will be considered and approved by the board of directors. The fundraising is being planned by the issue of Non-Convertible Debentures (NCDs) in one or more tranches on a private placement basis. The shareholders' approval would also be sought for the same at the company's next Annual General Meeting. In its release, PNB Housing said, 'At the said meeting, inter alia, the proposal of fundraising by issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹ 10,000 Crore (Rupees Ten Thousand Crore Only) on a private placement basis in one or more tranches is being placed for consideration/review by the Board and for obtaining approval from the shareholders at the ensuing Annual General Meeting of the Company.' PNB Housing Finance share price opened at ₹ 1133 levels on the BSE on Friday. PNB Housing Finance share price at the time of opening was up over 2% compared to the previous day's closing price of ₹ 1110.60. The share price of PNB Housing Finance thereafter extended its gains to intraday highs of ₹ 1135, which translated into gains of more than 2% during the intraday trades. This was despite tepid market sentiments on Friday, when the benchmark S&P BSE Sensex was trading range-bound with marginal gains only.
Mint
2 days ago
- Business
- Mint
PNB Housing board sets meeting date to consider ₹10000 crore fundraise
Stock Market Today: PNB Housing board has set meeting dates to consider a ₹ 10000 crore fundraise. Check details. PNB Housing Finance Limited on Friday, 27 June 2025, intimated to the exchanges about the board meeting dates. In its release on the National Stock Exchange of India and the BSE, or the Bombay Stock Exchange, PNB Housing Finance Limited said that a meeting of the Board of Directors of the company is scheduled on Wednesday, July 02, 2025. During the aforementioned meeting, among other things, the proposal to raise funds to the tune of ₹ 10000 crore will be considered and approved by the board of directors. The fundraising is being planned by the issue of Non-Convertible Debentures (NCDs) in one or more tranches on a private placement basis. The shareholders' approval would also be sought for the same at the company's next Annual General Meeting. In its release, PNB Housing said that "At the said meeting, inter alia, the proposal of fundraising by issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹ 10,000 Crore (Rupees Ten Thousand Crore Only) on a private placement basis in one or more tranches is being placed for consideration/review by the Board and for obtaining approval from the shareholders at the ensuing Annual General Meeting of the Company. PNB Housing Finance share price opened at ₹ 1133 levels on the BSE on Friday. PNB Housing Finance share price at the time of opening was up slightly over 2% compared to the previous day's closing price of ₹ 1110.60. The share price of PNB Housing Finance thereafter extended its gains to intraday highs of ₹ 1135, which translated into gains of more than 2% during the intraday trades. This was despite tepid market sentiments on Friday, when the benchmark S&P BSE Sensex was trading range-bound with marginal gains only. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
3 days ago
- Business
- Hans India
Harish urges SEBI to probe serious violations by TGIIC
Hyderabad: BRS senior leader T Harish Rao on Thursday urged Chairman of the Securities and Exchange Board of India (SEBI) to order an urgent investigation into serious irregularities and potential violations of SEBI regulations by the Telangana State Industrial Infrastructure Corporation (TGIIC) and the Government of Telangana. The BRS leader wrote a detailed letter to the SEBI Chairman. In the letter, Harish Rao raised strong objections over the mortgaging of 400 acres of land in the Kancha-Gachibowli region, land which has been flagged by a Supreme Court-appointed Empowered Committee as 'forest-like' and environmentally sensitive. The same land has reportedly been used to raise large sums through Non-Convertible Debentures (NCDs), allegedly without disclosing its legal and environmental status to lenders or investors. 'This is not just a financial violation; it is a betrayal of public trust and a misuse of natural resources for questionable financial engineering,' Harish Rao said. Harish Rao also flagged the financial capacity of TGIIC, noting that its annual turnover was reportedly less than Rs 150 crore, while it is raising thousands of crores rupees through NCDs, a move that raises red flags over repayment ability and disclosure norms. He further questioned the recent conversion of TGIIC from a private limited company to a public limited company, alleging that this structural change may have been carried out without full regulatory transparency or compliance with the Companies Act and SEBI guidelines. Rao further said that merchant bankers were paid over Rs 169 crore plus GST to structure these transactions, despite the questionable status of the land used as collateral. 'This issue concerns not only regulatory compliance, but also environmental responsibility and public interest,' he wrote, urging SEBI to investigate the entire chain of transactions and hold all parties accountable.
