Skip to main content

Kerala CM opens floor for trading at London Stock Exchange, attends listing of KIIFB masala bonds

Kerala government believes that the Rs 2,150 crore of masala bonds sold by KIIFB will assist in attracting investments and funds especially for rebuilding efforts post the calamitous floods last year in the state.

In a first for an Indian chief minister, Pinarayi Vijayan on Friday opened the floor for trading at the prestigious London Stock Exchange (LSE) and attended the listing ceremony of a masala bond from Kerala Infrastructure Investment Fund Board (KIIFB). Masala bonds are essentially offshore bonds that are denominated in Indian rupees.

Kerala’s Left government believes that the Rs 2,150 crore of masala bonds sold by KIIFB will assist in attracting investments and funds especially for rebuilding efforts post the calamitous floods last year in the state. The masala bonds have been listed in the International Securities Market.

The idea has been the brainchild of Finance Minister TM Thomas Isaac, who was also present along with the chief minister in London. Kerala also happens to be the first state in the country to issue masala bonds.

A statement issued by Darko Hajdukovic, head of Fixed Income, Funds and Analytics, UK Primary Markets at the LSE before the chief minister’s visit had said, “London Stock Exchange warmly congratulates KIIFB on its landmark debut masala bond. Our markets have enabled issuers to raise over $7.5 billion equivalent, allowing masala bonds to evolve from a specialist segment to a mainstream asset class. KIIFB’s bond highlights London’s status as a leading international financing centre, offering issuers access to the deepest pool of long-term international investor capital as well as best in class listing solutions.”

KIIFB is the first sub-sovereign entity in the country to tap into the offshore rupee international bond market.

The chief minister is on a 13-day, four-nation European tour as part of which he spoke at the ‘World Reconstruction Conference’ at the UN headquarters in Geneva which discussed the 2018 floods in the state. He will also launch the KSFE Pravasi Chitty for Europe and meet potential investors.

Translate this page:

You can translate the content of this page by selecting a language in the select box.

Comments

Post a Comment

Popular posts from this blog

Western Railway assigns special trains to run during Ganesh Chaturthi

Western Railways has assigned special trains that will run during Ganesh Chaturthi festival. These special trains will mostly cater to the Konkan coasts spanning across Maharashtra and Goa. western Railways has assigned special trains that will run during Ganesh Chaturthi between Mumbai Central/Ahmedabad Vadodara Junction and Thivim/Sawantwadi Road to clear extra rush of passengers during the festival. These special trains will mostly cater to the Konkan coasts spanning across Maharashtra and Goa. The focus seems to be to connect all points of the Konkan coast with each other. Ganesh Chaturthi is a Hindu festival celebrating the birth of Ganesha. Given below is the list of special trains for Ganesh Chaturthi festival this year: 1) Train No. 09007/09008 Mumbai Central Thivim Mumbai Central (Bi-weekly) Special on special fare : Train No. 09007 Mumbai Central Thivim (Bi-Weekly) Special on special fare will leave from Mumbai Central at 23.55 hrs on August 29, September 2, S...
Post a Comment
Read more

Weather Forecast, Cyclone Vayu today Live Updates: Storm moving away from Gujarat coast, alert continues

Weather Forecast, Cyclone Vayu Today in Gujarat, Mumbai LIVE News Updates: According to Skymet Weather, the cyclone which at present is Category 2 storm may weaken into a Category 1 storm. Weather Forecast, Cyclone Vayu LIVE News Updates: The “very severe” cyclonic storm Vayu will not make landfall in Gujarat as it has moved towards the sea, the Indian Meteorological Department (IMD) announced on Thursday morning. According to Skymet Weather, the cyclone which at present is Category 2 storm may weaken into a Category 1 storm. However, strong winds and rough seas are expected to continue and may cause damage. On Thursday, in a massive evacuation drive, around three lakh people were shifted to safer places as the cyclonic storm Vayu inched closer to the Gujarat coast. It was expected to make landfall between Dwarka and Veraval this afternoon. Schools and colleges will remain shut on June 12 and 13 across 10 districts as the Army, NDRF personnel, IAF helicopters and around 300 ma...
Post a Comment
Read more

Airtel rolls out its lowest-ever first recharge prepaid plan

Airtel has introduced a new first recharge plan of Rs 76 for its new customers. NEW DELHI: Telecom operator Airtel has revamped its first recharge (FRC) prepaid plans for its new subscribers. The first recharge plans from Airtel starts at Rs 178 and goes up to Rs 559. The company has now removed the Rs 344 and Rs 559 plan and in place of them it has added a new FRC prepaid plan of Rs 76. The new prepaid plan of Rs 76 offers talktime of Rs 26 and it valid for the period of 28 days. Users will also get 100MB of data and they will be charged 60 paise per minute for local and STD calls. Apart from Rs 76 plan, the service provider also offers three more plans of Rs 178, Rs 229 and Rs 495 under the First Recharge plans. All the three plans offer unlimited local and national calling facility. Customers will also get 100 SMS per day as part of the plans. The only change between the three plans are the amount of data and the validity period. Under Rs 178 plan of Airtel, users w...
Post a Comment
Read more