Company Profile

State Bank of India (SBI) has raised $100 million green bonds, the first such bond by any state-owned bank in this fiscal. The bonds were priced at 3M Libor + 80 basis points. The lender has already two climate bond initiative certified green bond issuances, aggregating $700 million.

The bank has adopted the green bond framework with an objective to create a positive impact on the environment and this transaction is yet another step as part of the sustainability journey. 

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

NTPC has completed acquisition of entire equity stake of Government of India in North Eastern Electric Power Corporation (NEEPCO) and THDC India (THDCIL) i.e. 100% of paid-up equity share capital of NEEPCO and 74.496% of paid-up equity share capital of THDC. With this, NTPC has become the holding company and also a promoter of NEEPCO and THDC.

State Bank of India (SBI) has raised $100 million green bonds, the first such bond by any state-owned bank in this fiscal. The bonds were priced at 3M Libor + 80 basis points. The lender has already two climate bond initiative certified green bond issuances, aggregating $700 million.

Mahindra & Mahindra (M&M) is planning to manufacture a face shield designed by Ford Motor for medical service providers to help in combating coronavirus pandemic. The company is targeting to make 500 pieces and ramp up the capacity.

Maruti Suzuki India (MSIL) has examined its ability to assist in the production of ventilators, masks and other protective equipment to support India's preparation against COVID-19. An arrangement has been entered into with AgVa Healthcare, an existing approved manufacturer of ventilators. MSIL would work with AgVa Healthcare to rapidly scale up production of ventilators. The intention is to reach a volume of 10,000 units per month.

Sun Pharmaceutical Industries has received a communication from the United States Food and Drug Administration (USFDA) indicating that the Halol facility has been classified as Official Action Indicated (OAI). The OAI classification implies that the USFDA may withhold approval of any pending product applications or supplements filed from this facility till the outstanding observations are resolved. The company continues to manufacture and distribute existing products for the US market, thereby not likely to have any adverse impact on current business from the facility.

Lupin and Mylan N.V. the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the approval of Nepexto, a biosimilar to Enbrel (etanercept), for all indications of the reference product including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, axial spondyloarthritis (including ankylosing spondylitis and non-radiographic axial spondyloarthritis), plaque psoriasis and paediatric plaque psoriasis.

Himadri Speciality Chemical has raised Rs 50 crore through commercial paper and allotted 1000 units of commercial paper of Rs 5,00,000 each, at a discount rate of 6.00% p.a. The Finance and Management Committee of the Board of Directors at its meeting held on March 27, 2020, allotted the same.

State Bank of India (SBI) has launched an emergency credit line to provide some degree of relief to its the borrowers whose operations are impacted by Covid-19.  The credit line is open for all standard accounts which have not been classified as SMA 1 or 2 as on March 16, 2020 are eligible to avail this credit line. Borrowers can maximum avail 10 per cent of the existing fund based working capital limits, subject to a cap of Rs 200 crore.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.