Adani Airport to raise Rs 19.5 billion via NCDs

03 Oct 2024 CW Team

Adani Airport Holdings plans to raise Rs 19.5 billion through non-convertible debentures (NCDs) to provide inter-company loans to its various airport subsidiaries, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati, and Thiruvananthapuram.

The NCDs, carrying a coupon rate of 9.35% per annum, will primarily be used to settle payments owed to the Airports Authority of India for prior-period regulatory assets approved by the Airport Economic Regulatory Authority of India (AERA).

The debentures have been assigned an A+/Stable rating by India Ratings and CRISIL Ratings. The issue, arranged by Axis Bank and Trust Investment Advisors Private Ltd, opened on September 30, 2024, and has a tenor of 3 years, 11 months, and 7 days.

(ET)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..