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<ul><li><keyword id="14238168" type="General" weightage="80" keywordseo="cloudextel" source="Orion">CloudExtel</keyword> took over old gas pipelines, excavated and cleaned them and laid over 200 kilometres of fibre in South Bombay. </li><li>The pipeline-turned-telecom assets gave way to their dark fibre leasing business but its co-founder wants to convert it into a full-stack NaaS company. </li><li>“We’re able to build out our network infrastructure and offer that on a service basis to our customers,” <keyword id="6358511" type="General" weightage="80" keywordseo="bajaj" source="Orion">Bajaj</keyword> told Business Insider <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. </li></ul>CloudExtel was founded in 2014 but its story had started unfolding much earlier – when The Gilded Age was playing out in British-ruled Bombay and even before electricity was in use. A company called Bombay Gas used to supply gas via pipes to Bombay buildings and to even power street lights. The company stopped gas distribution in the mid-80s and the pipes were lying unused since then. That was until 2014 – when <keyword id="131281" type="General" weightage="50" keywordseo="kunal-bajaj" source="Orion">Kunal Bajaj</keyword>, a telecom sector veteran and former partner- India director of consulting firm Analysys Mason, was introduced to the promoters of Bombay Gas – the <keyword id="23193" type="General" weightage="50" keywordseo="hamilton" source="Orion">Hamilton</keyword> and Company group. The firm, which had since diversified into real estate and others, wanted to convert the company’s gas pipelines into telecom assets. As CloudExtel was formed, it took over the old gas pipelines, began excavation, cleaned them up and laid over 200 kilometres of fibre in South Bombay. Since the fibre is laid under footpaths and bridges inside cast-iron pipelines, it provides an added layer of security. The pipeline-turned-telecom assets gave way to the company’s dark fibre leasing business – where the service provider offers the fibre optic infrastructure but the customer operates it. Some of its customers include Airtel, <keyword id="197484" type="General" weightage="50" keywordseo="pgcil" source="Orion">PGCIL</keyword>, Railtel, Sify, Tata Communications and Vodafone Idea. Bajaj, who had seen the market evolve from the bare minimum net speeds of the 2G era to the high-speeds of 3G and 4G, had bigger plans beyond just geographic expansion for the company. He wanted to build a network-as-a-service operation – a model where customers rent networking infrastructure and services through a cloud-like subscription-based model. “So, I came to them with the idea that rather than just thinking about building out a fibre business, we should actually think about building out an entire network-as-a-service (NaaS) full- stack operation,” Bajaj, who is also the co-founder of CloudExtel, told Business Insider India. Unblocking networks While India needs underground fibre – which is tough to lay and maintain amidst the many roadblocks telecom companies encounter, the sector itself faces a multitude of challenges when it comes to providing high-speed data services to an increasingly demanding customer base. India’s large population and its high density in most urban and even semi-urban areas has presented network challenges for <keyword id="6383126" type="General" weightage="50" keywordseo="telcos" source="Orion">telcos</keyword> and ISPs. And this is the problem that CloudExtel wants to solve. “There is the traditional way of serving these (crowded) areas with the macro sites and large towers. But at some point, those macro sites get completely choked and the capacity limits are reached and telcos need to be able to provide additional capacity in that high-density area. You then need to go from the very top of a tall building with a large site and you need to have a miniaturised site, which is at a lower height closer to where the actual traffic consumption is,” explained Bajaj. In addition to laying over 4,000 kilometres of fibre across cities, CloudExtel added 4,000 small cell sites across 325 cities and towns. In addition, it provides services like virtual networks that take it from providing infrastructure-as-a-service to NaaS. It leverages fibre-to-the-home (FTTH) with single platform end-to-end services that build, plan and maintain networks for telcos and internet service providers that target homes and SMEs. “So we take some of the hardest parts of that telecom network and we build it out on behalf of the telcos, ISPs and content providers. We focus on very difficult-to-solve types of problems, where high-network capacity is required or where it’s very difficult getting fibre into the ground or buildings and homes. We’re able to build out our network infrastructures and offer that on a service basis to our customers,” said Bajaj. CloudExtel believes that a time will come when telecom companies will outsource most or all of their infrastructure needs, paving the way for network-as-a-service or NaaS companies such as themselves. Global players like Cisco and <keyword id="10875" type="General" weightage="50" keywordseo="ibm" source="Orion">IBM</keyword> are also players in the NaaS space. “We are delivering a completely virtualized network to our customers. We can compare it to Amazon Web Services or Google Cloud, which have taken over from companies building, owning and maintaining their own data centres. I'm not saying that the telecom network or the telecom industry is ready to be completely virtualized or share all these stations and microsites, but this is the first step in that process, in that direction,” Bajaj said. A new era beckons CloudExtel has been bootstrapped until now and funded internally off the balance sheets. Even with the substantial set of assets, it still calls itself a startup. “So I still consider ourselves a startup because we have not yet achieved even one-tenth of what we believe we can achieve,” Bajaj said. Even as India is on the cusp of 5G network launches, Bajaj believes that the definition of network speeds is evolving, with more and more new technologies coming in. And infrastructure companies such as CloudExtel will have to stay ahead of the innovation cycle. “We're launching 5G today, but work on 5G actually started 10 years ago. That's kind of the timelines on which this kind of sector really works. 5G is going to be very largely about the ability to deploy small cells and provide dense network capacity and good network signals in very busy or very high traffic areas. That can basically be done on the back of only small cells being put very close to end-customers right on traffic junctions and high-density venues,” Bajaj said. Even as technology evolves, the number of high bandwidth applications like connected TVs, AR and VR-based shopping, in addition to metaverse etc. are multiplying at a rate that is faster than the time taken to build the infrastructure needed to handle it. “I think the biggest challenge we face is we don't have fixed-line infrastructure prominently available in the country. So, with rising capacity requirements and throughput requirements, telcos will always find it difficult to keep up pace with what the industry demands. That was really the genesis of the idea eight years ago,” Bajaj says. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-startup-economy-stares-at-deepening-funding-winter-in-2023/articleshow/96807902.cms">India's startup economy stares at deepening funding winter in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/an-aai-and-two-college-dropouts-home-snacks-biz-sends-shark-tank-judges-into-a-bidding-war/articleshow/96784920.cms">An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-decennial-census-to-be-delayed-further-say-officials/articleshow/96784633.cms">India's decennial census to be delayed further say officials</a>

This startup is using abandoned gas pipelines from 1800s to ease telecom traffic via network as a service

Transmission utility <keyword id="6368906" type="COMPANY" weightage="20" keywordseo="power-grid">Power Grid</keyword> Corporation of India Ltd (<keyword id="66427" type="CITY" weightage="20" keywordseo="PowerGrid">Powergrid</keyword>) is set to acquire 74 per cent stake in <keyword id="6354937" type="PERSON" weightage="20" keywordseo="Jaypee">Jaypee</keyword> Powergrid Ltd-JV (JPL) for an undisclosed amount. The company on Monday signed a share purchase agreement with <keyword id="139117" type="COMPANY" weightage="20" keywordseo="Jaiprakash-Power-Ventures">Jaiprakash Power Ventures</keyword> Ltd (JPVL) that will allow it to take full control of the joint venture. Post acquisition, JPL will become a wholly-owned subsidiary of Powergrid. Powergrid, which currently holds 26 per cent equity in JPL, has developed a 214 km long EHV power transmission project to evacuate power from Karcham-Wangtoo project in Himachal Pradesh. The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan. This deal comes against the backdrop of Powergrid in advanced talks with investors for its first tranche of projects through an infrastructure investment trust (InvIT) route. Post the first tranche, a Rs 10,000 crore second tranche for the InvIT is also in the works as reported earlier. The public sector transmission utility is among the first PSU to to offer an InvIT as part of the government's brownfield asset monetisation strategy.

Power Grid Corporation set to acquire 74% stake of Jaiprakash Power Ventures

<keyword id="478037" type="ORGANIZATION" weightage="80" keywordseo="Power-Grid-Corporation-of-India-Ltd">Power Grid Corporation of India Ltd</keyword> (<keyword id="197484" type="ORGANIZATION" weightage="80" keywordseo="PGCIL">PGCIL</keyword>), an Indian state-owned company headquartered in Gurgaon, Haryana, will invest Rs 5,800 crore for upgrading its network in Gujarat over the next three to four years, said a top official.
 "Power Grid will invest Rs 5,800 crore in Gujarat to increase the number of <keyword id="624094" type="UNKNOWN" weightage="80" keywordseo="extra-high-voltage">Extra High Voltage</keyword> (EHV) substations to 12 from the existing five,” DK Singh, executive director of PGCIL, said. 

	"It will also be used for increasing the transmission capacity to 19,000 mega volt ampere (MVA) from the existing 4,000 MVA. The transmission lines shall be expanded to 7,575 kms in Gujarat from the existing 5,610 kms," he said.
 Discussing about the country-level projects, Singh said that 11 <keyword id="2388774" type="UNKNOWN" weightage="80" keywordseo="High-Capacity-Power-Transmission-Corridors">High Capacity Power Transmission Corridors</keyword> (HCPTCs) are coming up in resource-rich states like Chhattisgarh, Odisha, Madhya Pradesh, Sikkim, Jharkhand, Tamil Nadu and Andhra Pradesh at an estimated cost of Rs 66,000 crore. These have been planned to meet bulk power evacuation requirement of various independent power producers (IPPs) across India, he added. The official also expressed confidence that the <keyword id="65314" type="ORGANIZATION" weightage="80" keywordseo="Indian-power-sector">Indian power sector</keyword> will flourish with the formation of 'One Nation-One Grid' system. 

	However, the major areas of concern in development of transmission network in the country are minimising impact on natural resources, coordinated development of cost effective transmission corridor and flexibility in enhancing transfer capacity of lines matching with power transfer requirement, he added. 
	(Image: Wikipedia)

Power Grid To Invest Rs 5,800 Crore To Upgrade Its Networks In Gujarat

New Delhi [India], September 13 (ANI): The central government has received about Rs 1,701 crore from Power Grid Corporation of India Limited (PGCIL) as a dividend tranche, the secretary at the Department of Investment and Public Asset Management posted on its X handle on Wednesday. "Government has received about Rs 1701 crore from Power Grid Corporation of India Ltd. (PGCIL) as dividend tranche," the divestment secretary wrote. A dividend is a reward companies often provide to their shareholders, though not mandatorily, from a portion of their earnings. Headquartered in Gurugram, PGCIL is engaged mainly in the transmission of bulk power across states in India. Earlier, on Monday, the government has respectively received about Rs 2,182 crore and Rs 460 crore from Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd as dividend tranches. (ANI)

Centre receives Rs 1,701 cr from Power Grid Corp as dividend

State-run <keyword id="1524744" type="General" weightage="50" keywordseo="power-grid-corporation-of" source="Orion">Power Grid Corporation of</keyword> India (PGCIL) has delayed the last date of its tender to install one crore smart electricity meters from August 30 to September 9, after IANS reported that the 'Maharatna' PSU is pushing dated, obsolete technology that can put Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s 5G dream and electricity sector reforms in jeopardy. According to reliable industry sources, <keyword id="6368906" type="General" weightage="100" keywordseo="power-grid" source="Orion">Power Grid</keyword> has postponed the tender date by 10 days, as the technology in focus is the latest platform and connectivity solution called Narrow Band Internet of Things (NB-IoT) that can work with 4G and 5G networks. The PGCIL first floated a tender for the smart meters based on older and dated second generation (2G) and RF mesh frequency in March. Later, the PGCIL modified the tender to include NBIoT technology. However, there was another revision in the bid on August 18, where the new and 5G-ready NB-IoT technology was again excluded by the central transmission utility. NB-IoT is a cellular communication technology which is accepted globally. It provides enduring cellular technology in 4G as well as 5G deployments and is better for use in high-rises, basements and rural installations of machine-to-machine applications. According to sources, the motivation to exclude NB-IoT for smart meters was "unclear given that NB-IOT is the latest state of the art technology and is future proof". One reason that the Power Grid did not go for NB-IoT technology can be that it is not yet widely proven on a mass scale. <keyword id="1798483" type="General" weightage="50" keywordseo="tata-power-delhi-distribution" source="Orion">Tata Power Delhi Distribution</keyword>, which supplies electricity in north and north-west Delhi, already uses NB-IoT in smart meters that collect and track the electricity consumption of a unit or a system that they are connected to. According to sources, when the capability to offer the latest technology exists in the country, it is a highly "retrograde step" for a top PSU to make a backward move and exclude the technology from its tender. They said that it is essential that the latest technology be deployed into the power sector in order to ensure longevity of the systems being put into place. Ignoring the latest technology defeats the very idea of modernisation, they added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-is-now-the-third-richest-person-in-the-world-as-per-bloomberg/articleshow/93868294.cms">Gautam Adani is now the third richest person in the world, only behind Elon Musk and Jeff Bezos</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/indians-love-for-travel-is-so-strong-that-its-boosting-credit-card-spends/articleshow/93859780.cms">Indians’ love for travel is so strong that it’s boosting credit card spends</a>

Power Grid delays tender that pushes outdated tech in smart meters

Mumbai, <keyword id="6375349" type="DOMAIN" weightage="20" keywordseo="Reliance-Infrastructure">Reliance Infrastructure</keyword> Limited (RInfra) on Saturday announced the successful completion of sale of its entire 74% equity stake in Parbati Koldam Transmission Company Limited (PKTCL) to India Grid Trust (IndiGrid) for an enterprise value of ₹900 crore. RInfra owns 74% in PKTCL located in the state of Himachal Pradesh and Punjab in joint venture with the <keyword id="176911" type="COMPANY" weightage="20" keywordseo="Power-Grid-Corporation-of-India-Limited">Power Grid Corporation of India Limited</keyword> (PGCIL). The deal was announced in November 2020 with the signing of a definitive binding agreement between RInfra and IndiGrid and has now been completed with transfer of shares of PKTCL, and receipt of sale consideration. IndiGrid (BSE: 540565, NSE: INDIGRID) is India's first power sector <keyword id="2584560" type="COMPANY" weightage="20" keywordseo="Infrastructure-Investment-Trust">Infrastructure Investment Trust</keyword>, owning AAA rated <keyword id="10568144" type="UNKNOWN" weightage="20" keywordseo="power-transmission-assets">power transmission assets</keyword> in India. With this acquisition, IndiGrid owns 12 operating power transmission assets with a total AUM of over ₹14,500 crore. The total transaction value is ₹900 crore. The entire sale proceeds are being utilised for debt reduction. RInfra has reduced its total debt liabilities by 6% from the deal proceeds. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-bags-a-7-4-million-cheque-as-pandemic-forces-ritesh-agarwal-to-reimagine-the-business/articleshow/80170847.cms">OYO bags a $7.4 million cheque as pandemic forces Ritesh Agarwal to reimagine the business</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-series-mobile-available-on-pre-orders-checkout-expected-price-of-this-smartphone/articleshow/80168058.cms">Samsung Galaxy S21 series now up for pre-orders ⁠— expected to be priced around ₹75,000</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-ongc-tata-power-punjab-national-bank-nhpc-and-other-top-stocks-to-watch/articleshow/80164057.cms?upcache=2">TCS’ market share, ONGC’s borrowing, Tata Power gets new territories⁠— these and other top stocks to watch</a>

Reliance Infra completes sale of entire 74% shareholding in Parbati Koldam Transmission Company Limited India Grid Trust

New Delhi, Dec 30 () Inox Wind on Monday said that it has entered into an agreement with Continuum Power Trading (TN) Pvt Ltd to supply, erect and commission 250 mw wind power projects in Gujarat.
 "Inox Wind... has signed a term sheet with Continuum Power Trading (TN) Pvt Ltd, part of Continuum Wind Energy group, to supply, erect and commission 250 MW of wind power projects (in two phases of 126 MW and 124 MW) comprising of a mix of 2 MW (113 metre rotor diameter turbine combined with 92 metre hub height) and 3 MW (145 metre rotor diameter turbine combined with 120metre hub height) turbines," the company said in a filing to BSE.
 The first phase of 126 mw of the project is scheduled to be commissioned by the third quarter of FY21 at Dayapar in Bhuj district, Gujarat, and will be executed on a turnkey project basis.
 As part of the order, Inox Wind will provide Continuum Power with end-to-end solutions from development and construction to commissioning and providing long-term operations and maintenance services.
 "Common infrastructure such as 220 KV pooling substation at Dayapar, 220 KV bay at Power Grid Corporation Of India Limited (PGCIL) Nirona End, 220 KV transmission line for 72 km is ready and the project will be executed on a plug-and-play basis," the company said.
 The shares of Inox Wind were trading at Rs 34.60 a piece on BSE. SID ANS
ANS

Inox Wind signs pact with Continuum Power Trading for 250 mw power projects

Mumbai, Apr 27 () Domestic steel players need to gear up to raise production by improving efficiency and reducing cost to tap into the international markets, as China has become a net importer due to the COVID-19 impact, said JSPL Managing Director V R Sharma. Speaking at an online seminar organised by the All India Induction Furnaces Association (AIIFA) along with Hyve India, the managing director of Jindal Steel and Power Ltd (JSPL) said the fall in domestic demand for steel is a temporary phenomenon and will pick up once the government agencies start tendering major infrastructure projects. "Due to the COVID-19 pandemic, China's steel production was affected for nearly four months from December 2019 and, thus, they started importing steel from every possible source from March 2020. So, today, China is a net importer of steel and we have no threat from that country," Sharma said. He added that at the same time, the demand from southeast Asian countries and Europe is also increasing as their activities are also impacted. "Therefore, Indian players need to gear up to increase production by reducing cost and improving efficiency." In Europe, the demand is coming from Italy, Spain and Germany because the steel industries there were also severely impacted due to the pandemic. "Similarly, a good demand is coming from Philippines, Indonesia, Malaysia and also from China and we need to take advantage of this by selling as much as we can," he added. Also, with a number of infrastructure projects slated to be tendered by various government agencies, this will give the necessary boost to domestic demand for steel. "Union Minister for Highways Nitin Garkari recently said there are nearly 460 large projects which will come into action by December 2020, which include the ambitious Bharatmala and Sagarmala projects. Along with these, we are expecting projects from the Indian Railways and other state agencies like BHEL, PGCIL and others like the irrigation department. "Once these projects are declared by the government, we will be in a position to sell more steel. There will be so much demand in India that will become an importer of steel if we don't gear up," Sharma added. Besides, the iron ore mines are now operational and there is sufficient availability of domestic coal, which can be used for increasing steel production, he added. "The government and the RBI (Reserve Bank of India) are taking all the necessary steps from their end. We cannot expect the government to do everything. While we should focus on improving productivity, the government can ensure movement of trucks and tendering of projects as fast as possible. Also, the government can support the industry in terms of moratorium and not declaring companies as NPAs (non-performing assets)," Sharma added. PSK HRS

Firms need to gear up to raise output for tapping steel markets ceded by China due to COVID-19: JSPL

New Delhi, Jan 23 () The Department of Telecommunications seeking nearly Rs 3 lakh crore in dues from non-telecom PSUs, such as GAIL, Oil India Ltd and PowerGrid, was a result of "communication gap" as these firms do not owe any such amount, Oil Minister Dharmendra Pradhan said on Thursday.
 Following the October 24 Supreme Court ruling that non-telecom revenues of telecom firms such as Bharti Airtel and Vodafone Idea should be included for considering payments of government dues, the telecom department sought Rs 1.72 lakh crore from gas utility GAIL India Ltd, Rs 48,000 crore from OIL, Rs 40,000 crore from PowerGrid and raised similar demands from RailTel and other public sector undertakings (PSUs).
 The government's demand from such companies increased many times more than their net worth and the Centre asked them to go to the Supreme Court against such dues. While Oil India Ltd filed a clarificatory/ modificatory petition on Wednesday, GAIL approached the apex court on Thursday.
 "We are in discussion with the telecom ministry. We had given them our reply (on the demand raised)," Pradhan told reporters here. "Possibly because of communication gap, the Government of India's one department has raised such demand on PSUs under another government department."
 He said parallel to discussions with the DoT, the Supreme Court has been approached on the issue.
 "Where is GAIL in core telecom work? Is PGCIL in core telecom work or does Oil India do any core telecom job," he asked. "We feel there should be no impact (of the October 24 Supreme Court ruling) on these companies."
 Pradhan said the approach to the Supreme Court and discussions with the DoT were being conducted simultaneously.
 He, however, did not say if seeking relief from the Supreme Court was limited to PSUs under his ministry filing pleas in the apex court or his ministry would also file a petition.
 The DoT raised the demands on the non-telecom PSUs for leasing out surplus optical fibre network that was primarily for their internal communications under NLD (National Long Distance Service) licences or IP-1/IP-2.
 The demand notices by the DoT follow the Supreme Court's October 24 order that broadened the definition of adjusted gross revenue (AGR) for telecommunications companies to include non-core operations. AGR is used as a basis for the calculation of licence fees and spectrum usage charges owed to the government. GAIL, Oil India, PowerGrid and other non-telecom PSUs were not a party to this litigation.
 OIL in its petition to the Supreme Court stated that it will have to shut down operations if it is forced to pay an amount that is twice its net worth.
 "OIL had obtained a National Long Distance Service Licence (NLD Licence) to establish supervisory control and data acquisition system (SCADA system) for control, management, and protection of OIL's pipeline network used for transportation of crude oil, natural gas, and petroleum products," the company had said in a statement on Thursday. "As per the licence terms, the licence fee is to be paid on gross total revenue from services provided under the NLD Licence. Since the award of NLD licence, the cumulative revenue of Rs 1.47 crore is earned by OIL from the leasing of spare bandwidth capacity on which all applicable licence fee and other statutory dues as per licence terms have been paid by OIL regularly."
 The company stated that based on the recent Supreme Court ruling, "Department of Telecommunications issued demand notices to OIL also seeking payment of licence fee on total reported revenue including revenue from sale of crude oil, natural gas etc, which neither relate to the NLD licence nor can be treated as supplementary/ value-added services related to the NLD licence."
 "Till date, OIL has received demand notices for the period from FY2007-08 to FY2018-19 amounting to over Rs 48,000 crore including licence fee, penalties and interest," the statement had said.
 From gas utility GAIL, the DoT has sought Rs 1,72,655 crore in dues on IP-1 and IP-2 licences as well as internet service provider (ISP) licence. In response, GAIL has told the DoT that it owes nothing more than what it has already paid to the government.
 The firm told the DoT that it had obtained ISP licence in 2002 for a period of 15 years, which expired in 2017. But GAIL never did any business under the licence, and since no revenue was generated, so it cannot pay any amount.
 On IP-1 and IP-2 licences, GAIL has told the DoT that it generated Rs 35 crore of revenue since 2001-02 and not Rs 2,49,788 crore that has been considered for levying past dues, adding that the revenue number the DoT is considering is after adding all the revenues that the company earned from gas trading and transportation business.
 Sources said the dues being sought are more than three times the net worth of GAIL and several times the actual revenue earned.
 While telecom companies such as Bharti Airtel and Vodafone Idea may have had non-telecom revenues generated from using the government licence and spectrum, firms such as GAIL and OIL had no such revenue.
 The DoT is seeking Rs 1.47 lakh crore from all telcos in past statutory dues. ANZ HRS

DoT seeking Rs 3 lakh cr from GAIL, other non-telecom PSUs result of communication gap: Pradhan

In order to fund their business plans and meeting the capital requirements, Indian companies garnered Rs 4.32 lakh crore in the financial year 2014-15 through <keyword id="70439" type="UNKNOWN" weightage="20" keywordseo="Private-placement">private placement</keyword> of corporate bonds. 

	An Economic Times report revealed that this mop up was up 60% as against Rs 2.71 lakh crore mopped up by firms in the preceding fiscal 2013-14. This was the highest ever fund raising by companies in a financial year, as per the Prime Database report.
 "On an industry-wise basis, the <keyword id="6354241" type="COMPANY" weightage="20" keywordseo="Financial-Services">financial services</keyword> sector continued to dominate the market, collectively raising Rs 3.19 lakh crore or 74% of the total amount. Power sector ranked second with an 8% share (Rs 35,312 crore)," Sanjeev Khandelwal, Prime Database executive director, told the financial daily. During the period, the highest mobilisation through the channel of private placement of debt was by <keyword id="126337" type="COMPANY" weightage="20" keywordseo="Power-Finance-Corp">Power Finance Corp</keyword> (Rs 46,920 crore). This was followed by Rural Electrification Corp (Rs 34,538 crore), HDFC (Rs 29,170 crore), <keyword id="6367143" type="ORGANIZATION" weightage="20" keywordseo="LIC">LIC</keyword> <keyword id="100080" type="ORGANIZATION" weightage="20" keywordseo="housing-finance">Housing Finance</keyword> (Rs 24,791 crore), IDFC (Rs 15,114 crore), PGCIL (Rs 10,887 crore) and EXIM Bank (Rs 10,863 crore), as per ET. Despite a rally of 25% in BSE's benchmark <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> last fiscal, Indian companies flocked to the debt route instead of raising capital through public offers, the report added. 

	On the other hand, in the previous year, government organisations and financial institutions mobilised 47% of the total amount, which is less than the 54%.

	(Image: Thinkstock)

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This startup is using abandoned gas pipelines from 1800s to ease telecom traffic via network as a service

Katya Naidu

Power Grid Corporation set to acquire 74% stake of Jaiprakash Power Ventures

Power Grid To Invest Rs 5,800 Crore To Upgrade Its Networks In Gujarat

BI India Bureau

Centre receives Rs 1,701 cr from Power Grid Corp as dividend

ANI

Power Grid delays tender that pushes outdated tech in smart meters

IANS

Reliance Infra completes sale of entire 74% shareholding in Parbati Koldam Transmission Company Limited India Grid Trust

IANS

Inox Wind signs pact with Continuum Power Trading for 250 mw power projects

PTI

Firms need to gear up to raise output for tapping steel markets ceded by China due to COVID-19: JSPL

PTI

DoT seeking Rs 3 lakh cr from GAIL, other non-telecom PSUs result of communication gap: Pradhan

PTI

India Inc mops up Rs 4.32 lakh crore via private placement last fiscal

BI India Bureau

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