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Govt Ends Coal India Monopoly, Infrastructure Investment Trust Structure et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Feb 20, 2018 12:57 PM 2 min read


End of Day Wrap-up (Tuesday / February 20, 2018) #CoalIndia #NCLT #RBI #Essar #IBC #Ambuja #InvIT #Qualcomm #Broadcom #Transfin

Editor's comment: Cabinet clears private commercial mining in coal, in a move to usher in competition in coal supply, reduce coal imports and help stressed power plants to attempt a turnaround through better fuel management. State-owned Coal India has been the sole commercial miner in India for 41 years now with a market share of 80%.


Reserve Bank of India is reviewing its process for allowing companies to raise money overseas due to concern that any increase in rupee volatility may hurt borrowers’ ability to repay debt.


The bids of both Numetal, and ArcelorMittal for Essar Steel have failed the eligibility test of the legal advisors appointed by the resolution professional following an amendment to the Insolvency and Bankruptcy Code which keeps out defaulting companies and their promoters from participating in the auction for stressed assets through the NCLT


In a first for the country, Infrastructure investment trust (InvIT) IndiGrid on Tuesday said it will acquire a partial stake in Patran Transmission for INR2 billion, making it the first third-party acquisition by an InvIT. In addition, IndiGrid has also acquired three assets from its sponsor Sterlite Power Grid Ventures for INR14 billion.


Qualcomm raises its bid for NXP Semiconductors to about $44 billion on Tuesday in an effort to win shareholder support for the acquisition, up from its initial offer of $39 billion. The move is likely to help Qualcomm fend off a $121 billion takeover approach from Broadcom.