Delhi-Mumbai Expressway raises Rs 18,456 cr from bonds and loans

22 Nov 2021 CW Team

The company will launch its maiden local bond sale by December. It is also in talks with local and foreign lenders, including the State Bank of India (SBI), Employees' Provident Fund Organisation (EPFO), Citi, Barclays and Morgan Stanley.

DME has also received a letter of comfort from NHAI for the bond sale. The borrowers may hold up a meeting for the same.

The company is seeking to raise at least Rs 5,000 crore with 15 years of maturity. It has approached many domestic and institutional investors such as banks, mutual and pension funds and bond houses to show their project's strength.

As per the bond terms, the bond may have five to six years of a call option, an exit route for investors before the maturity date. The bond will be up for bidding on the National Stock Exchange's electronic trading platform. However, only qualified institutional borrowers can participate in the bidding process.

It is aiming to raise a Rs 4,000 crore loan from institutional centres, including India Infrastructure Finance Company, National Investment and Infrastructure Fund and EPFO.

The company is exploring offshore fundraising. It is also in talks with foreign investors to extend a dollar-denominated loan under an external commercial borrowing (ECB) interface.

According to a source, the Rs 4,000 crore loan could be a combination of ECB and domestic institutions or only ECB.

DME is negotiating with many local banks to raise Rs 9,000 crore. Earlier, it had raised Rs 2,700 crore from Bank of Baroda, Indian Bank and Bank of Maharashtra in FY22, with a maturity period of 18 years. It is also negotiating with SBI, seeking a 6.85% rate of interest against 7%.

The Delhi-Mumbai Expressway project is 1,380 km long, where SPV is to raise Rs 54,000 crore till the project completion date in October 2023.

In Delhi and Boroda, the project will be distributed in segments through engineering, procurement and construction (EPC) contracts. The remaining part of the project till Mumbai will be implemented through a hybrid annuity model.

Image Source

The Delhi-Mumbai Expressway (DME) Limited, a special purpose vehicle (SPV) owned by the National Highways Authority of India (NHAI), raised Rs 18,456 crore through bonds and loans to fund the project. The company will launch its maiden local bond sale by December. It is also in talks with local and foreign lenders, including the State Bank of India (SBI), Employees' Provident Fund Organisation (EPFO), Citi, Barclays and Morgan Stanley. DME has also received a letter of comfort from NHAI for the bond sale. The borrowers may hold up a meeting for the same. The company is seeking to raise at least Rs 5,000 crore with 15 years of maturity. It has approached many domestic and institutional investors such as banks, mutual and pension funds and bond houses to show their project's strength. As per the bond terms, the bond may have five to six years of a call option, an exit route for investors before the maturity date. The bond will be up for bidding on the National Stock Exchange's electronic trading platform. However, only qualified institutional borrowers can participate in the bidding process. It is aiming to raise a Rs 4,000 crore loan from institutional centres, including India Infrastructure Finance Company, National Investment and Infrastructure Fund and EPFO. The company is exploring offshore fundraising. It is also in talks with foreign investors to extend a dollar-denominated loan under an external commercial borrowing (ECB) interface. According to a source, the Rs 4,000 crore loan could be a combination of ECB and domestic institutions or only ECB. DME is negotiating with many local banks to raise Rs 9,000 crore. Earlier, it had raised Rs 2,700 crore from Bank of Baroda, Indian Bank and Bank of Maharashtra in FY22, with a maturity period of 18 years. It is also negotiating with SBI, seeking a 6.85% rate of interest against 7%. The Delhi-Mumbai Expressway project is 1,380 km long, where SPV is to raise Rs 54,000 crore till the project completion date in October 2023. In Delhi and Boroda, the project will be distributed in segments through engineering, procurement and construction (EPC) contracts. The remaining part of the project till Mumbai will be implemented through a hybrid annuity model. Image Source

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Infrastructure Urban

09 Jan 2026

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..

Building Material

09 Jan 2026

Sources Unlimited Introduces Vitamine Pendant Lamp by Melogranoblu

Sources Unlimited has launched the Vitamine Pendant Lamp by Melogranoblu in India, expanding its portfolio of curated international luxury lighting solutions. Designed and crafted in Italy, the Vitamine pendant reflects contemporary glass artistry, combining hand-blown craftsmanship with refined aesthetics and atmospheric illumination.The Vitamine Pendant Lamp is sculpted in hand-blown glass and is available in frosted, silver and black metallised finishes. Each finish offers a distinct visual identity while maintaining a cohesive and sophisticated design language. The lamp’s softly contoure..