Page 11 - Debt

G20 meet aims to find 'lasting solutions' to global debt issue: Govt

"There are countries that are facing huge debt problems and our aim in G20 will be to find lasting solutions to these problems"

Losing traction: BAFs' dream run halts even as equity market stays volatile

BAFs see outflows for four months on the trot after inflows stayed in the green for two years

'Fake Ebitda' masks risk in debt-laden companies, says report

The S&P analysts this week said the latest data reinforces their view that those Ebitda figures are "not a realistic indication of future Ebitda

India setting up $4 billion fund to backstop corporate debt market

During times of stress, the backstop fund could step into the market to buy relatively illiquid investment grade bonds

West Bengal's debt per capita stands at an estimate of more than Rs 60,000

With a population of around nine crore and cumulative debt of Rs 5.86 lakh crore, debt per capita in West Bengal stands at a conservative estimate of more than Rs 60,000. When the ruling Trinamool Congress assumed office in 2011, the total debt of the state stood at Rs 1.97 lakh crore. In the budget for 2023-24 presented in the state assembly on Tuesday, the West Bengal government has proposed to raise money from the market to the tune of Rs 79,000 crore, compared to the 2022-23 revised figure of Rs 75,000 crore. Noted economist Ajitava Ray Chaudhuri said, "The present generation has contracted such a debt stock which has to be repaid by the future generation". "If a such high debt is backed by equivalent assets created, the burden on future generation will be lower," Ray Chaudhuri said. The state's tax revenue for the year 2023-24 is also projected to be Rs 89,000 crore, in contrast to Rs 79,500 crore in the revised figure for 2022-23.

G20 finance chiefs to meet in India next week to discuss debt troubles

The Feb. 22-25 meeting in the Nandi Hills summer retreat near Bengaluru is the first major event of India's G20 presidency and will be followed by a March 1-2 meeting of foreign ministers in New Delhi

World's next debt disaster seen brewing in Indonesia's builder binge

The struggles are already reminding some analysts and investors of the high-profile debt debacles in China and South Korea last year, which were centered on the nations' developers

AEL adds another 20%, 7 Adani stocks up as group boosts investor confidence

M-cap back above Rs 10-trillion mark; Adani Transmission, Adani Wilmar, Adani Power and NDTV hit upper limit of 5%

Stable cash flows to aid Adani Group's debt commitments: Rating firms

Ind-Ra said there is no immediate impact on the ratings of Adani Group entities, following the recent short-selling report

Sebi considering easing of RPT norms for high-value debt listed entities

In a discussion paper, Sebi has proposed that only HVDLEs having 90 per cent or more related party shareholders will have to send notice to debenture holders holding listed NCDs

Adani Ports eyes Rs 15,000 cr Ebitda in FY23, will prepay Rs 5,000 cr debt

Prepayment to significantly improve net debt-to-Ebitda ratio, bring it closer to 2.5x by March, says company

Rs 1,500 crore of Adani Enterprises short-term debt to mature by April 27

The fall was triggered by short seller Hindenburg Research's accusation against the group of accounting fraud and stock manipulation

Freightify raises $12 million in series A led by Sequoia Capital

Freightify helps power digital transformation of Freight forwarders through their suite of proprietary products

Balancing state Budgets: Here're the pain points and what's on offer

State government finances are still facing the effects of the pandemic

Macrotech Developers aims to cut debt by nearly 40% in 2023: MD Lodha

Realty firm Macrotech Developers Ltd aims to cut its net debt by nearly 40 per cent to around Rs 5,000 crore by the end of this calendar year with the help of surplus cash flow from strong housing sales, a top company official said. Mumbai-based Macrotech Developers, which is one of the leading real estate firms in the country, markets its properties under the Lodha brand. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha sounded bullish on the long term growth potential of India's residential real estate market. Sales bookings and cash flows have been very strong so far this fiscal year, resulting in reduction in debt by Rs 753 crore in the December quarter to Rs 8,042 crore, he said. "We are hoping to reduce debt further by Rs 1,000 crore by end of this fiscal year to about Rs 7000 crore," Lodha said. The company plans to cut debt by Rs 500-800 crore every quarter. "We will hope to be close to Rs 5,000 crore of net debt sometime by end of this calendar ye

Debt per Indian increased from Rs 43,124 to Rs 1,09,373 in 9 yrs: Congress

Vallabh said, "As per IMF for 2022, our Debt to GDP was 83 per cent, far above our peers, emerging market and developing economies (EMDEs), which have average Debt of 64.5 per cent

Adani Group plans to demerge more business; dismisses debt concerns

The corporate house plans to spin off, or demerge, its metals, mining, data centre, airports, roads and logistics businesses, said Jugeshinder Singh

Sri Lanka concludes debt restructuring talks with Japan: Wickremesinghe

Sri Lanka has concluded debt restructuring talks with Japan and will continue to hold such meetings with India this month, President Ranil Wickremesinghe announced on Saturday, as the cash-strapped country looks to carve a path out of its worst financial crisis. The crisis-hit island nation, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying to get financial assurances from its major creditors China, Japan and India which is the requisite for Colombo to get the bailout package. The IMF bailout has been put on a halt as Sri Lanka pursues talks with creditors to meet the global lender's condition for the facility. Addressing trade unionists here, the president said that the debt restructuring talks with China's Exim bank were held this week and further dialogue is in progress. On January 19, the Indian foreign minister is expected to visit and we will continue to have debt restructuring talks with India, Wickremesingh

Siva Shelters & Construction repays IL&FS debt worth Rs 80 crore

IFIN, a subsidiary of IL&FS, the bankrupt infrastructure financing and construction company, had disbursed Rs 50 crore as loan to SSCL

India's external debt at $610 billion in Q2 FY23; declines by $2.3 billion

India's external debt stood at USD 610.5 billion in the second quarter of 2022-23, down by USD 2.3 billion from end-June 2022, the finance ministry said on Thursday. The external debt to GDP ratio stood at 19.2 per cent as at end-September 2022 as compared to 19.3 per cent at end-June. "At end-September 2022, India's external debt was placed at USD 610.5 billion, recording a decrease of USD 2.3 billion over its level at end-June 2022," it said. Valuation gains due to the appreciation of the US dollar vis--vis major currencies such as the euro, yen and Indian rupee was placed at USD 10.6 billion. "Excluding the valuation effect, the increase in external debt would have been USD 8.3 billion instead of a decrease of USD 2.3 billion at end-September 2022 over end- June 2022," it noted. At end-September 2022, long-term debt (with original maturity of above one year) was placed at USD 478.7 billion, recording a fall of USD 8 billion over its level at end-June 2022, it said. On the othe