Chambal Fertilisers and Chemicals is demerging its shipping business to a subsidiary, which will be listed. Existing shareholders will own shares in new company, but promoters will effectively control three-fourth of the new company’s shareholding.
Ahmedabad-based textile company Arvind has succeeded in getting concessions from its lenders. It now has two more years to repay Rs 904 crore worth of debt.
Tata Motors is seeking to make use of JLR’s rising cash flows by leveraging its balance sheet, and refinance existing debt and potentially lower interest costs too.
State Bank of India’s reaction to the credit policy was swift, in a move which will see short term deposit rates spike and all loans will become expensive.
