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Fund raising through issuance of debentures dropped 29 per cent to Rs 10,587 crore in 2020-21 due to decline in credit ratings and escalated risk of default on COVID-19 induced disruptions in capital intensive businesses. Going forward, experts say, the ongoing financial year (2021-22) will see some attractive numbers in non-convertible debenture (NCD) fund raising. " We should see money mobilization through NCD route to the tune of 2018-19 levels in FY22 as many companies are entering capex cycle, GDP is projected to grow in double digits and bond yields have started to go up making more c...

Indian Bank rose 1.15% to Rs 140.75 after the bank said its board accorded in-principal approval for partial or full disinvestment of bank's stake in joint venture, ASREC (India).The bank holds a 38.26% stake in ASREC (India) and the decision to divest stake is part of monetisation of the bank's non- core assets. Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company. ASREC (India) acquires non performing assets (NPAs) from the banks/financial institutions at mutually agreed prices with the objective is to maximise...

Read more about Indian Bank to divest stake in asset reconstruction JV ASREC India on Business Standard. State-owned Indian Bank on Friday said it will divest stake in joint venture entity ASREC (India) Ltd as part of asset monetisation exercise.The bank holds a 38.26 per cent stake in ASREC (India) Ltd.As part of the monetisation of the bank's