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Mindspace REIT plans to raise up to Rs 450 cr through issue of securities

Mindspace Business Parks REIT on Thursday said the company plan to raise up to Rs 450 crore through the issue of debt securities. In a regulatory filing, the company informed that the decision will be taken at a meeting on March 9. "a meeting of the executive committee of the manager shall be held on Tuesday, March 9, 2021, to consider and approve raising of funds by Mindspace REIT through the issue of a debt security(ies) aggregating up to Rs 450 cores by way of the private placement," the filing said

Jio, Airtel balance sheets can absorb costs despite spectrum buys: Moody's

Spectrum renewals in the recently-held auction will boost telcos' market position and there may not be a significant impact on their balance sheets, as pricing competition abates and profitability improves, Moody's Investors Service said on Thursday. The spectrum renewals and additional purchases will help the incumbents - Jio and Airtel - strengthen their radio wave holdings and improve their network coverage. At the same time, as some telcos have large cash holdings while others recently raised debt to fund the purchases, there will not be a significant impact on their balance sheets particularly, as pricing competition abates and profitability improves across the sector, Moody's said in its report.

Indiabulls Housing Finance raises Rs 1,091 cr via foreign currency bonds

Indiabulls Housing Finance has raised USD 150 million (Rs 1,091 crore) by issuing foreign currency convertible bonds, the company said on Thursday. The securities issuance committee has approved the allotment of secured Foreign Currency Convertible Bonds (FCCBs) of USD 150 million, convertible into equity share of Rs 2 each, Indiabulls Housing Finance said in a regulatory filing. The FCCBs, set to mature on March 4, 2026, bear a coupon rate of 4.5 per cent. The bonds are proposed to be listed on Singapore Exchange Securities Trading Ltd. Indiabulls said as many as 4,49,91,756 equity shares of the company would be in the trade-off with the FCCBs

Godrej Interio bags orders worth Rs 250 crore for three metro projects

Furniture solutions brand GodrejInterio on Thursday said it has bagged contracts worth Rs 250 crore for the metro projects located in Bengaluru, Mumbai and Kochi. Godrej Interio recently bagged contracts for the metro projects located in Bengaluru, Mumbai and Kochi further strengthening itspresence as a leading contractor in infra projects, worth Rs 250 crore, the company said in a statement. The scope of work includescarrying out the civil finishes, cladding, block works, facade glazing, metal ceiling, aluminium louvers,structural steelworks, plumbing, railing and horticulture in these metro projects.

HC suspends tender process for privatising discom in UT: Torrent Power

Torrent Power on Thursday said Bombay High Court has suspended the tender process for privatisation of a power distribution company in Dadar & Nagar Haveli and Daman & Diu. In February, Torrent Power had emerged as the highest bidder in the tender for power distribution in the Union Territory of Dadra & Nagar Haveli and Daman & Diu. "Torrent Power Ltd had emerged as the highest bidder in the tender for 51 per cent equity stake in power distribution company for the Union Territory of Dadra & Nagar Haveli and Daman & Diu. In this connection, we would like to further inform that Hon'ble Bombay High Court has, inter alia, suspended the tender process in a PIL (Public Interest Litigation) case before the court until further orders in the matter," the company said in a BSE filing.

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