Anurag Joshi
Stories by Anurag Joshi
Blackstone agrees to buy glass unit of India’s Piramal Enterprises for $1b
PE giant in talks with banks for a $400m loan to fund the deal.
Yes Bank picks Cantor, two others to raise as much as $2b
Yes Bank has been plagued by worries about its asset quality and uncertainty about efforts to raise new capital.
India unveils rules to help creditors recover loans due from large shadow lenders
PM Modi’s govt is bolstering the rules after last year’s shock default at IL&FS reverberated across the nation’s financial system.
Indian tycoon Anil Ambani plans $3.2b asset sales to reduce debt pile
Anil Ambani is waging a war on debt. Reliance Group repaid Rs 350 billion in the past 14 months through asset disposals. But a large pile remains.
Shunned by local lenders, India’s shadow banks seek succour in foreign funding
The country’s non-banking financial companies have raised more than $2 billion of overseas bonds and loans in 2019.
BofA said to have made its biggest distressed asset purchase in India
A group of investors led by the US bank have paid $479 million for soured loans of a beleaguered maker of cast iron pipes
Indian businesses may lose key financing channel as shadow lenders turn wary
Recent scares have prompted at least two major shadow banks to turn off the faucet in the past month, the longest dry spell in six years.
Kumar Mangalam Birla’s Hindalco taps banks for Aleris Corp acquisition
The acquisition will provide Hindalco access to high-growth sectors including automotive and transportation, and entry into aerospace and defense.
In a rare move, India’s bad-debt buyer Edelweiss to purchase consumer loans
Edelweiss Asset Reconstruction Co is setting up a team for that and seeks to start purchases in 2019.
India’s IL&FS said to plan $4.2b asset sale as defaults pile up
Investors are concerned that defaults by IL&FS, which has total debt of $12.6 billion -- 61 percent in the form of loans from banks and other financia
