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Corporate Briefs

Konkan Rail bonds a big draw

The Konkan Railway Corporation Ltd (KRCL), has raised Rs 194 crore from the market in two tranches, Rs 80 crore taxable bonds at a coupon rate of 7.25 per cent and Rs 114 crore tax-free bonds at a coupon rate of 6.35 per cent. The bonds received an overwhelming response from the market and were over-subscribed on the first day itself. This is the lowest rate at which tax-free bonds have been raised in the market in the recent past. KRCL has earned a AAA(SO) rating to its bonds by Crisil, a release said.

Sidbi cuts rate

Small Industries Development Bank of India (Sidbi) has cut the interest rate applicable on its capital gain bonds, launched under section 54 EC of Income Tax Act, 1961 on private placement basis, to 6.5 per cent per annum from 7 per cent per annum. Other terms and conditions of the issue remain unchanged.

Wipro Tech

Wipro Technologies will partner with Artesia Technologies Inc, a provider of enterprise digital asset management solutions, to deliver comprehensive rich-media content management solutions to Wipro’s customers worldwide.

L&T project

Larsen and Toubro (L&T) has bagged a project valued at about $ 15.4 million to construct a cable stay bridge in Jordan. The project was awarded to the company by the municipality of greater Amman in Jordan, Indian ambassador to Jordan M. Venkatraman said.

Jindal Polyester

Jindal Polyester, a part of the Rs 1,100 crore B. C. Jindal group, will invest Rs 150 crore to set up a new polyester film line plant. The Rs 150-crore project would be financed by an equal mix of debt and equity, which would be generated through internal accruals.

SRF rating

Fitch Ratings India has affirmed the F1+(Ind) rating assigned to the Rs 40-crore commercial paper programme of SRF Limited, a press release said.


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