Tue, Apr 25, 2017 | updated 10:14 AM IST

NTPC lists world's first green Masala bond by an Indian issuer on London Stock Exchange

Updated: Aug 05, 2016 11:18 IST      
NTPC lists world's first green Masala bond by an Indian issuer on London Stock Exchange

London, Aug.5 (ANI): The London Stock Exchange is proud to welcome another global first, with NTPC the first ever Indian quasi-sovereign to issue a Masala bond, choosing London, the global home for Masala bonds, for its listing. NTPC's, India's leading energy conglomerate, green Masala bond raised INR 20 billion (c. $300 million) with 7.48 per cent annual yield, securing high quality investor support from across Europe and Asia. The bond is Climate Bonds Initiative certified and will be listed on London Stock Exchange's green bonds segment.

NTPC will invest the proceeds of the green Masala bond in the renewable energy market as it seeks to add more wind and solar power projects to its portfolio, supporting the Indian government's ambition to generate 175GW of renewable energy by 2022.

The listing follows the visit of Piyush Goyal, Minister of State for Power, Coal, New & Renewable Energy, of the Government of India to the UK earlier this year to strengthen UK-India collaboration on power and renewable energy. It also builds on the announcements made by Prime Minister Narendra Modi to list $1 billion equivalent of Masala bonds in the UK, made during his landmark visit to London in 2015.

London Stock Exchange has a strong track record of supporting green and Masala bond issuances by supranational institutions, municipals and private companies on its markets.

· 35 green bonds are listed on London Stock Exchange, including those denominated in INR and RMB, raising approximately $8.7 billion

· In 2016 alone, 10 new green bonds in 4 different currencies raised approximately $3.6 billion

· Last year, IFC, a member of World Bank Group, listed the first ever Green Masala bond on London Stock Exchange

· 30 Masala bonds have listed on London Stock Exchange, raising equivalent to approximately $ 3.5 billion

Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Development, London Stock Exchange Group:

"NTPC's landmark independently certified green Masala bond listing, the first Masala bond by an Indian quasi-sovereign issuer, represents another historic event for Indian finance. We are honoured to have been chosen to support NTPC access Rupee-based financing in London's international capital markets, reinforcing India's ambitions to generate 175GW of renewable energy by 2022.

"London Stock Exchange has in recent weeks hosted landmark Indian issuances by Axis Bank and HDFC and today we are delighted to host the world's first independently certified green Masala bond by NTPC.

This cements London's position as the listing venue of choice for a variety of Asian issuers, from quasi-sovereign to supranational institutions, municipals and private companies. We are excited about continuing to build this market with Indian partners and authorities over the long-term, underlying the success of the India-UK Financial Partnership."

NTPC's bond listing is the latest in a long line of global firsts by Asian issuers on London Stock Exchange.

· July 2016 - HDFC lists world's first Masala bond by an Indian corporate

· June 2016 - Axis Bank lists India's first internationally listed certified green bond & its entire $5 billion MTN programme

· June 2016 - first Chinese sovereign RMB bond issued outside of China lists in London, bringing total number of offshore RMB bonds issued in 2016 in London to 54, more than all other markets combined

· August 2015 - International Finance Corporation (IFC) issues world's first green Masala bond, raising £31 million equivalent

· November 2014 - IFC lists first Masala bond, going on to issue a further three Masala bonds in London over the last two years

In June 2016, London Stock Exchange hosted a landmark Indian Green Infrastructure Investment Coalition forum, bringing together institutional investors and infrastructure project developers to discuss green financing opportunities in the Indian market. (ANI)

Rannvijay Singh to be face of The Spartan Poker

Updated: Apr 24, 2017 19:55 IST     

Mumbai [India], Apr 24 (ANI-Businesswire India): Popular actor/ TV host and youth icon, Rannvijay Singh has joined hands with The Spartan Poker, country's leading and most popular poker gaming portal as their first brand ambassador.

Full Story >>

New Delhi [India], Apr 24 (ANI): Global specialist in energy management and automation Schneider Electric India on Monday announced its signing of an agreement with Naya Raipur Development Authority (NRDA) for the development of the first green field integrated smart city of Naya Raipur, Chhattisgarh.

Full Story >>

New Delhi [India], Apr 24 (ANI-NewsVoir): The grand celebration of Adarsh Star Samaroh 2017 was held at JECC Ground in Jaipur, Rajasthan. Adarsh Star Samaroh is an annual event from Adarsh Credit Co-operative Society to celebrate the success of the team leaders and advisors of Adarsh Credit Co-operative Society who have gathered from all across the country.

Full Story >>

New Delhi [India], Apr 24 (ANI): The new variants build on Vestas' 2 MW platform, delivering increased swept area and annual energy production while keeping the existing 2 MW nacelle and hub design.

Full Story >>

New Delhi [India], Apr 24 (ANI): LC Singh, Founder, Vice Chairman and CEO of Nihilent Technologies, a Pune-based global consulting and solutions Integration Company, addressed a large gathering of entrepreneurs, corporate executives, investors and mentors on 'How design thinking makes use of a collaborative approach in solving complex problems; and how 'empathy' lies at the core of the design thinking approach' at the flagship event of 'TiECON, Pune 2017', which took place recently at The Westin Koregaon Park, Pune.

Full Story >>

New Delhi [India], Apr 24 (ANI-NewsVoir): The tremendous response that our existing Indiqube centres have received in Bangalore, we are now expanding our footprints in city's shared work space map with launch of four new centers in important areas in order to cater to the growing demand for shared spaces.

Full Story >>

Ola launches biggest driver partner engagement initiative

Updated: Apr 24, 2017 12:44 IST     

New Delhi [India], Apr 24 (ANI): Taxi aggregator Ola on Monday announced the launch of 'Ola Partners League' - a unique virtual cricket game for its driver partners.

Full Story >>

New Delhi [India], Apr 24 (ANI): International Management Institute (IMI) conducted its 33rd Annual Convocation Ceremony at IMI-New Delhi campus where it awarded 299 students of the premier Business School with diplomas.

Full Story >>

L&Technology Services wins smart city and campus project

Updated: Apr 24, 2017 11:36 IST     

New Delhi [India], Apr 24 (ANI-BusinessWireIndia): L&T Technology Services Limited, a leading global pure play engineering services provider, announced the development of Smart City and Campus solutions that will be used to develop a smart office campus in Israel for a leading technology company - a result of its expanded partnership with Microsoft.

Full Story >>

New Delhi [India], Apr. 23 (ANI-BusinessWireIndia): We welcome the PMO's intervention on the National Medical Device Policy (NMDP). We are thankful that the Government has acknowledged the importance of FDI (Foreign Direct Investment) in this sector and is now further consolidating the gains it has already made in this regard post bringing the FDI on automatic route. We are also hopeful that before the finalisation of the NMDP, MedTech associations like Medical Technology Association of India (MTaI) are also consulted.

Full Story >>

Jakarta [Indonesia]/Bangkok [Thailand]/Singapore City [Singapore], April 22 (ANI): Japan's Shimizu Corporation has a history of over 200 years in building safe and reliable infrastructure, protecting these structures against natural disasters, and promoting the concept of environmental sustainability.

Full Story >>

New Delhi [India], Apr 22 (ANI): eShopbox an end to end ecommerce service provider has now on-boarded with Affiliate fulfillment program of all three major ecommerce players like Amazon, Flipkart and Snapdeal.

Full Story >>

New Delhi [India], Apr 22 (ANI-NewsVoir): Mindmine Summit, one of India's most influential ideas exchange platforms organized by the Mindmine Institute, an independent think tank set up by Hero Enterprise concluded its 11th edition in the national capital today.

Full Story >>

New Delhi [India], Apr 22 (ANI): The Indian Exhibitions, Conferences and Events Services Association (IESA), an apex organisation working towards the development of the exhibitions, conferences and events services sector in India, in collaboration with key industry bodies, government organisations including Department of Commerce, Ministry of Commerce & Industry, Government of India, Confederation of Indian Industry (CII), and Services Export Promotion Council (SEPC), organised the second edition of the India Expo Summit 2017 at the India Expo Centre and Mart, in Greater Noida, Uttar Pradesh.

Full Story >>

GTA to join Hotelbeds Group's Bedbank business unit

Updated: Apr 22, 2017 02:13 IST     

New Delhi [India], Apr 22 (ANI): Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry on Friday announced plans for GTA to join its Bedbank business unit.

Full Story >>

UN Global Compact to host event of 300 Indian leaders

Updated: Apr 21, 2017 18:31 IST     

New Delhi [India], April 21 (ANI-Businesswire India): Next week the United Nations Global Compact will bring together over 300 leaders from business, finance, civil society, Government and the UN in New Delhi for its flagship regional event Making Global Goals Local Business - India. Taking place on 26 - 27 April at the Le Meridien Hotel, the forum will focus on advancing responsible business practices and catalyzing innovative business models to meet the Sustainable Development Goals (SDGs) in India and across the world.

Full Story >>

Mumbai [India], April 21 (ANI-Businesswire India): The EDPMS (Export Data Processing and Monitoring System) which has been introduced by the Reserve Bank of India (RBI) to monitor payments against export bills requires all banks to report in this system details of the export proceeds realization pertaining to the shipping bills filed after February 28, 2014.

Full Story >>

Service charge not mandatory now: Centre

Updated: Apr 21, 2017 17:44 IST     

New Delhi [India], April 21 (ANI): Approving the guidelines on service charge, the Centre on Friday announced that service charge is completely voluntary and not mandatory.

Full Story >>

New Delhi [India], Apr 21 (ANI): The Central Board of Direct Taxes on Friday announced the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY) open for declarations up to March 31.

Full Story >>

IvyCamp inks partnership with Amazon, IBM and others

Updated: Apr 21, 2017 16:57 IST     

New Delhi [India], Apr 21 (ANI): India's first unified technology based platform for startups IvyCamp has announced their partnership with leading corporates to offer the startups on its platform, complimentary and discounted packages for solutions that include technology credits, marketing, accounting, communication, and productivity solutions.

Full Story >>