+
MMRDA to appoint SBI Capital Markets raise funds of Rs 60k cr
RAILWAYS & METRO RAIL

MMRDA to appoint SBI Capital Markets raise funds of Rs 60k cr

The Mumbai Metropolitan Regional Development Authority (MMRDA) will appoint SBI Capital Markets Limited to raise Rs 60,000 crore funds for the ongoing and upcoming infrastructure projects.

It was decided in October during the 151st meeting of MMRDA, which was chaired by the Minister of Urban Development, Ekanath Shinde.

As per the estimated cash flow of MMRDA, it will get good revenue from its projects and other sources of income in the next 25 years. Looking at its non-receipt sources of revenue and its actual period of project implementation, in the next five years, it will require Rs 60,000 crore, an official told the media.

According to an official, it was approved during the meeting to raise funds of Rs 60,000 crore for the projects. MMRDA approved the government guarantee and other guarantees required for raising funds for the project.

SBI Capital Markets will be appointed for studying various loan options required for raising funds and appointed as Transaction or Project Advisory Services on Single Source Basis. As per the work mentioned in the proposal for raising funds, SBI Capital Markets will be paid 0.2% as a fundraising fee from the total loan amount. MMRDA can also appoint three expert staff for fundraising through outsourcing and take further steps required for the implementation of the project.

The capital expenditure of the MMRDA's infrastructure projects is approximately Rs 1,74,940 crore.

Image Source

The Mumbai Metropolitan Regional Development Authority (MMRDA) will appoint SBI Capital Markets Limited to raise Rs 60,000 crore funds for the ongoing and upcoming infrastructure projects. It was decided in October during the 151st meeting of MMRDA, which was chaired by the Minister of Urban Development, Ekanath Shinde. As per the estimated cash flow of MMRDA, it will get good revenue from its projects and other sources of income in the next 25 years. Looking at its non-receipt sources of revenue and its actual period of project implementation, in the next five years, it will require Rs 60,000 crore, an official told the media. According to an official, it was approved during the meeting to raise funds of Rs 60,000 crore for the projects. MMRDA approved the government guarantee and other guarantees required for raising funds for the project. SBI Capital Markets will be appointed for studying various loan options required for raising funds and appointed as Transaction or Project Advisory Services on Single Source Basis. As per the work mentioned in the proposal for raising funds, SBI Capital Markets will be paid 0.2% as a fundraising fee from the total loan amount. MMRDA can also appoint three expert staff for fundraising through outsourcing and take further steps required for the implementation of the project. The capital expenditure of the MMRDA's infrastructure projects is approximately Rs 1,74,940 crore. Image Source

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?