Power producer NTPC has sought market regulator Sebi’s approval to raise up to R1,750 crore through tax-free bonds in the current financial year. “Public issue by NTPC of tax-free secured redeemable non-convertible bonds of face value of R1,000 each in the nature of debentures having tax benefits... for an amount aggregating up to R1,000 crore with an option to retain oversubscription up to R750 crore for issuance of additional bonds aggregating to a total of up to R1,750 crore in fiscal 2014”, says the draft prospectus filed with Sebi.
REC to boost loan to $300 m from $250 m Rural Electrification Corp (REC), the state-owned lender to electricity companies, plans to increase its five-year dollar-denominated loan facility to $300 million, according to a person familiar with matter. The company plans to close syndication on November 22 and is offering a margin of 150 bps more than the Libor.
SKS Microfin classified as NBFC-MFI
SKS Microfinance has informed the BSE that the RBI, based on the company's application dated January 31, has classified it as a Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) (non-deposit taking). Earlier it was regarded as a Non-Banking Financial Company (non-deposit taking) Systematically Important (NBFC-ND-SI).
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