Mumbai, Jan. 29: Reliance Industries, with a cash balance of nearly Rs 84,000 crore, today raised $800 million via a perpetual bond sale at 5.875 per cent coupon, which the Mukesh Ambani-led firm claimed is a first in the world as it has pierced the 6-percentage-points pricing barrier on this type of debt. This is also the first senior long-rated bond issuance by a domestic company. Globally only five companies have issued perpetual debt and all of them are paying more than 6 per cent coupon.
Road to GST
Bhubaneswar, Jan. 29: Paving the way for early rollout of goods and services tax, states today reached a broad consensus on the design of the new indirect tax regime under which states will be free to decide on the time of its introduction.
Oil India stake
New Delhi, Jan. 29: The empowered group of ministers, headed by finance minister P. Chidambaram, is likely to meet tomorrow to decide on the price and time of sale of the government’s 10 per cent stake in Oil India Ltd.