FIPB clears Koshika's Rs 120 cr CD issue
Foreign Investment Promotion Board (FIPB) has allowed Koshika Telecom Pvt Ltd to issue fully convertible debentures worth Rs 120 crore to replace its foreign partner Philippines Telecom Corporation (PHILTEL).

Essar drops $ 130 mn issue plan
Bealeagured Essar Steel of the Ruias has decided to let the permission of the Government of India for its $ 130 million bond issue to lapse - the approval for which was granted by the Union Cabinet last week. The issue was originally intended to raise funds for its pellet plant in Vizag.

IOC to join hands with Abu Dhabi Oil Company
State-owned Indian Oil Corporation (IOC) has started negotiations with Abu Dhabi National Oil Co (ADNOC) to set up an oil refinery in Tamil Nadu at an estimated cost of Rs 66 billion.

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