India News
Search Web Directory
News Home
Road to expansion: HPCL to raise $500 m in medium-term bonds
Posted on 1st September 2018
Hindustan Petroleum (HPCL) is planning to raise $500 million in medium-term bonds for its expansion projects in the January-March quarter of 2019, a senior company official said.

J Ramaswamy, director, finance, HPCL, told FE, “The company will start the prepartory work by November-December and will hit the market in the January-March quarter. The tenure of the bond will depend on the inflows from the expansion projects, which will start from July onwards.”

“We will mostly be looking at the 5-year tenure as it would not be prudent to go for the 10-year bonds as we will have to match the bullet repayment with project inflows.” The inflows from some of the refinery expansion at Mumbai refinery and Vizag projects are expected by 2022, while other projects like the greenfield Rajasthan refinery project will happen over the next five years, he said.

The company is also likely to look at the domestic market to raise funds as compulsorily hedging the infrastructre projects makes the interest rates as good as foreign markets, Ramaswamy said.

The company has undertaken the expansion of Mumbai refinery to 9.5 mtpa from 7.5 mtpa at a cost of `5,060 crore, while the 9 mtpa Barmer refinery in Rajasthan is a greenfield project.

The company is also one of the partners in the 60 mtpa Ratnagiri Refinery and Petrochemicals project in Maharashtra along with two other PSU players — IOC and BPCL.

Last year, HPCL in its maiden foray into the international market raised $500 million in 10-year bonds at a semi-annual coupon rate of 4%. “The rates have gone up by 0.75% as of now in the international market, which makes the domestic market equally competitive,” Ramaswamy said.

The company also took shareholders’ approval to raise `12,000 crore and has identified `75,000 crore as capital expenditure over the next five years. Around `8,450 crore will be spent in FY19.

Related Companies: Hindustan Petroleum Corporation Ltd.(HPCL)   

Other Latest News
Dish TV India zooms 15% after clarification on CARE ratings downgrade
Posted on 9th December 2019
Shares of Dish TV India surged 15 per cent to Rs 14.44 on the BSE on Monday after the company said the default in debt repayment was on account of a temporary cash shortfall due to peak payment commitments to suppliers. "The Company's deferral to service the loan amount is due to bunching of repayment obligations and utilization of funds for other business requirements including, both capital expenditure and payment of operating liabilities to broadcasters and suppliers," Dish TV India said in a regulatory filing.

Auto stocks gain as Maruti Suzuki increases production in November
Posted on 9th December 2019

Shares of automobile companies gained on Monday after Maruti Suzuki India (MSI) increased its production in November. At 10:30 AM, the S&P BSE Auto index climbed 1.5 per cent as compared to a flat benchmark S&P BSE Sensex and was the top gainer among BSE sectoral indices.

Among individual stocks, Maruti Suzuki India, Tata Motors, and Motherson Sumi rose over 2 per cent each. Eicher Motors, Ashok Leyland, Mahindra & Mahindra, TVS Motor, Hero MotoCorp were all up in the range of 1-2 per cent, while Bajaj-Auto was also trading higher.

Hyderabad Encounter: Telangana HC to hear matter today, state govt forms SIT to probe extrajudicial killings
Posted on 9th December 2019

The Telangana High Court will hear the case of Friday's encounter of four men accused of raping and murdering a veterinarian in Hyderabad.

A bench headed by Chief Justice will hear the matter at 10:30 am.

Cyberabad Police had on Friday killed all the four accused in the gangrape and murder of a Hyderbad-based veterinary doctor.

Citizenship (Amendment) Bill to be tabled in Lok Sabha for passage today
Posted on 9th December 2019

The controversial Citizenship (Amendment) Bill, 2019, which seeks to grant Indian citizenship to non-Muslim refugees from Pakistan, Bangladesh and Afghanistan, will be tabled in Lok Sabha on Monday.

The Bill, which proposes to amend the Citizenship Act, 1955, will be tabled by Union Home Minister Amit Shah in the lower house of the Parliament and will be taken up for discussion and passage, according to the Lok Sabha's List of Business for Monday.

Delhi HC issues notices to exporters over non-payment of IGST on imports
Posted on 9th December 2019

The Delhi High Court has issued notices to exporters in cases related to non-payment of integrated goods and services tax (IGST) on imports under an export incentive scheme.

The cases relate to the review petition filed by revenue authorities regarding imposition of IGST on imports of goods under the advance authorisation scheme, which allows exporters to import goods that go into exports without payment of duties.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Road to expansion: HPCL to raise $500 m in medium-term bonds
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Road to expansion: HPCL to raise $500 m in medium-term bonds

Most Read News

Piramal Capital borrows Rs 1100 crore for 4 months from Barclays: Report

HDFC Bank sees signs of rural revival as wider economy remains sluggish

JSW Steel eyes to supply 1.5 lakh tonne to metro rail projects in FY20

Punjab police to provide free pick up, drop to women post 9 PM, announces CM

Coca-Cola moves out of bottling ops in North India, to divest three plants

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019
    All Rights Reserved
Privacy Statement