Surging gold price has strengthened the company's financials, which should help it gain investor confidence, dealers said.
NSDL, the larger of the country’s two depositories, is in the process of appointing investment bankers for the IPO.
In the renewable sector, Bank of America expects consolidation to happen — platforms led by entrepreneurs and backed by private equity will shift to larger companies. “Renewables is a mature business and corporates will come in and create scale,” Wood said.
“The issuer will likely offer 1.25 times security to LIC” against its investment, a market participant with direct knowledge of the matter told ET. This means, the metals and mining company will provide security worth Rs 2,500 crore to the insurer.
ICICI Prudential Mutual Fund is estimated to have bought more than Rs 1,000 crore of the bonds.
The revised terms, submitted on Friday, include upfront payment of ₹2,500 crore to lenders.
Long-term investors turned bullish expecting better financials from Bharti Airtel is anticipated to remain one of the two key phone companies in the Indian market, along with Reliance Jio Infocomm. The third is Vodafone Idea.
Any revision on credit ratings may only be considered based on a broader sector outlook.
India is in a sweet spot to attract global investors with many economic reforms including tax rates and consistency in policy making. Citibank's head of Corporate Banking Group K Balasubramanian, says with giant multinational companies looking for an alternative to China as a manufacturing hub to reduce the risks, India may well be the choice. Edited excerpts:
In past two weeks, companies that had lined up $1.55b of issues received bids for about $11b.
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