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Kolkata-based Srei Infrastructure FinanceLtd (Srei) today said it will raise up to Rs 1,000 crore through a public offer of non-convertible debentures (NCDs). There are three tenures for the issue ......
|Description||Kolkata-based Srei Infrastructure FinanceLtd (Srei) today said it will raise up to Rs 1,000 crore through a public offer of non-convertible debentures (NCDs).
There are three tenures for the issue -- 400 days, 3 years and 5 years. An effective yield of 9.08 per cent is offered for 400 days, coupon of 9.75 per cent on an annual option for 3 years, and 10 per cent on an annual option for 5 years tenure.
The issue is rated BWR AA+ (BWR Double A plus) by Brickwork Ratings IndiaPrivate Limited.
"The object of the proposed issue is to raise funds for various leading/financing activities to repay the company's existing loans and business operations," Srei said.
IIM Ahmedabad has released reports of its final placements for PGP, PGP - FABM and PGPX programmes for the year 2016, prepared as per the Indian Placement Reporting Standards (IPRS). According to ......
|Description||IIM Ahmedabad has released reports of its final placements for PGP, PGP - FABM and PGPX programmes for the year 2016, prepared as per the Indian Placement Reporting Standards (IPRS).
According to the report, 383 students sought employment through the business school of the total 403 graduating in 2016. More than 110 firms participated in the placement process of which the top offers (108) were made by consulting firms. Eight students opted out to start entrepreneurial ventures.
A total of 108 offers were accepted by students in the consulting sector, followed by 70 in BFSI (banking, financial services and insurance), 53 in online services, 26 in IT, 24 in conglomerates and 28 in FMCG.
Accenture Strategy was the top recruiter with 18 students placed. Bain & Co extended 16 offers while The Boston Consulting Group extended 17.
Some 368 offers were based in India, 7 in Europe, Middle East , Africa (EMEA) and the 8 in Asia Pacific. The number of international offers dropped from 40 last year to 15 this time around.
For the PGP program, data in 2011 was available for 67% of total offers accepted, 76% in 2012, 98.9% in 2013, 99.2% in 2014 and 100% in 2015. Continuing last year's IPRS results, this year too the school has had 100% data for the PGP placement offers.
According to the report, the minimum fixed yearly cash component (domestic) is Rs 6 lakh while the maximum is Rs 35 lakh. The median fixed yearly cash component (domestic) is Rs 17,00,655.
The maximum earning potential cash component stood at Rs 48 lakh; at the minimum range, Rs 11.5 lakh and for the median and Rs 21 lakh.
For international offers, the minimum fixed yearly cash component stood at $34,248, while the maximum stood at $132,896 and the median, $60,000.
The maximum earning potential cash component (international), according to the report for PGP students, was $35,112 at the minimum and $1,53,568 at the maximum.
Besides the PGP programmes, IIM-A also released the data for its post graduate programme in agribusiness management (PGP-ABM), and the post graduate programme for management executives (PGPX).
IIM A adopted the IPRS on June 18, 2011 and this is the sixth year the institute is providing the standardised reports. As per the norms of the IPRS, these reports have been audited by Brickwork Ratings, an independent third party auditor.
|Industry||Education & Training|
Indiabulls Housing Finance Ltd proposes to issue upto 1,000 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10 lakh each aggregating to upto Rs.100 Crores (Plus Greenshoe Option ......
|Description||Indiabulls Housing Finance Ltd proposes to issue upto 1,000 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10 lakh each aggregating to upto Rs.100 Crores (Plus Greenshoe Option, if any), on Private Placement basis, pursuant to special resolution passed by the shareholders of the Company at the 10th Annual General Meeting held on September 7, 2015.
The terms and conditions of the instrument is given below:
The Issue Size will be Rs. 100 Crores (Plus Greenshoe Option, if any) and the mode of issue is Private Placement.
The Issue Opening Date is 2nd September, 2016 and the issue closing date is 2nd September, 2016. The Deemed Date of Allotment will be 2nd September, 2016.
The instrument will be listed at both National Stock Exchange of India Limited (NSE) and BSE Limited.
The Tenor of the debentures will be 2 to 5 Years and the coupon is fixed as 8.55% p.a. (Payable Annually and at Maturity)
The instruments are Secured and the rating of the Instrument is "CARE AAA" by CARE Ratings and "BWR AAA" by Brickwork Rating.
Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.828.65 as compared to the previous close of Rs. 834.35. The total number of shares traded during the day was 15954 in over 908 trades.
The stock hit an intraday high of Rs. 836.05 and intraday low of 825.3. The net turnover during the day was Rs. 13233470.
Permits are in place and officials expect work to begin in November to tear down two buildings that are beyond repair at the College Avenue Campus of the University of Regina. The demolition is par ......
|Description||Permits are in place and officials expect work to begin in November to tear down two buildings that are beyond repair at the College Avenue Campus of the University of Regina.
The demolition is part of an estimated $60-million project aimed at preserving the University's College Building and nearby Darke Hall on the edge of the city's showpiece green space, Wascana Park. One component of the project includes adding a commercial office building for the Conexus Credit Union in the park.
Dave Button, a vice-president with the U of R, said the necessary permits and approvals were in place and tenders for a demolition contract closed last week.
He said before anything is torn down, crews — working on the advice of heritage experts — will ensure significant items are saved.
"It's not like they come in with a wrecking ball," Button said.
The overall project involves four buildings: Darke Hall; the Gallery building (a box-shaped addition built in 1957); the Conservatory building (previously known as the Women's Residence) and the College building.
Button said Darke Hall had underpinning work done in the 1990s and it is sound. Work is underway on the roof of Darke Hall.
Button said the large College building needs some structural work, that is feasible, on its south end.
He said the Conservatory building has been in a poor condition for decades and the structural condition of the building, although it was built in the same way as the larger College Avenue building, is beyond repair.
"Slowly, the back end has been shifting and moving," he said. "[The building] has been condemned for decades now."
The Gallery building, he said, is in similar poor shape.
Some brick work and cornerstones will be preserved as well as worthwhile interior elements, like door knobs.
Button said one wall of the Conservatory building, facing College Avenue, will be retained and — behind that wall — there will some new construction. The new space is needed to ensure the building is, among other things, accessible.
"The facade will be protected," he said, adding that a prominent entry will be created as part of the work.
Tree cut down
On Tuesday, a mature poplar tree was cut down to a stump by crews from the Wascana Centre Authority, which oversees the grounds.
"It had to be removed to facilitate the demolition of the Conservatory and the Gallery Building," Bernadette McIntyre, CEO of the Wascana Centre Authority, said.
"We move, remove and plant trees almost every day within Wascana Centre," McIntyre added. "Any trees that we remove, because we can't move them usually because they're too large, we replace."
She said a replacement tree could be planted elsewhere in the park or in the same area one was removed depending on the landscaping plans.
"We plant hundreds of trees every year," she said.
Funding for the project is coming from a variety of sources, including $27.6 million in federal support. The U of R needs to have the work completed by spring of 2018 to meet the terms attached to the money from Ottawa.
Button said the university is continuing to gather funds to ensure the federal dollars are matched. That matching funding includes money from Conexus as well as a number of donations.
McIntyre said the finished space, between Darke Hall and the College Building, will have appealing landscaping.
"We will ensure that it is absolutely beautiful and park-like," she said.
According to McIntyre, the space where an office building for the Conexus Credit Union will go (west of Darke Hall) has about 33 trees and bushes.
"We will have to move and remove some portion of those trees and shrubbery," she said, adding it wasn't known how many would be affected. "We will remove as few as possible and any that are removed, we will replant."
Summer construction spending at UR totaled roughly $50 million, a significant jump from the $15-20 million the University usually spends on off-season construction, repairs, and maintenance. Even ......
|Description||Summer construction spending at UR totaled roughly $50 million, a significant jump from the $15-20 million the University usually spends on off-season construction, repairs, and maintenance.
Even as students celebrated the end of classes and packed up to go on vacation, administrators, Facilities workers, and external contractors ramped up for a full summer of work.
“The day after Commencement starts significant emphasis on construction projects,” said Bruce Bashwiner, Associate Vice President for University Facilities and Services. This summer, he noted, was much busier than usual.
With the ongoing construction of Wegmans Hall, the renovation of the Frederick Douglass Building, and the installation of a campus swing set, among other projects, UR spent approximately three times the usual figure on campus improvement this summer. This total includes the repair and maintenance of existing campus infrastructure, extensive renovations, or even the construction of entire new buildings by firms like Welliver, LeChase Construction, and Pike Construction.
One of the longest-running projects is the renovation of the Frederick Douglass Building, complete with a new dining hall and a student event space. Work on the buildingbegan in October 2014, when the campus bookstore, previously located on the first floor of the building, moved to College Town. The space it previously occupied will become the new Douglass Dining Center, affectionately known to students and staff as “New Dougie,” after being under construction for the entire summer and most of the previous semester.
Contrary to a rumor that had been circulating among students, the new dining hall is expected to open in time for the start of the fall semester.
“We will be moving into the second floor kitchen this week and are planning to open the first floor dining areas beginning next Wednesday [August 24], as originally planned,” Cam Schauf, Director of Campus Dining Services and Auxiliary Operations, said in an email.
Schauf added that a new iteration of the popular Grab n’ Go service, a bagged lunch retailer, is scheduled to open its doors Sept. 7.
Rush Rhees Library will also re-open its doors this fall after a suite of renovations to the first floor lobby and circulation area. The project, part of an extensive plan to modernize and update the building and its resources, fell under some scrutiny last fall when the removal of two wooden tables in the library entrance prompted a student petition for their return. The tables were returned temporarily during the spring semester but ultimately moved elsewhere in the library to make way for the new Evans Lam Square.
The project was completed over the summer, and opened to the public on Aug. 24, although Neilly Dean of River Campus Libraries Mary Ann Mavrinac said that “as with any project, we will still be working on some of the small details after we open.”
One such detail is the first floor restrooms in the library, which were converted to gender-neutral restrooms.
“We had to seek a variance from the State to proceed with gender neutral restrooms,” she said.
Approval for the restrooms was granted just one month prior to the start of the fall semester, enabling the construction of the restrooms in keeping with a campus-wide effort toward more inclusive restroom facilities, begun last year by the Students’ Association Government (SA).
Construction of a bridge between Lam Square and the Frederick Douglass Building will also continue into the fall semester, Bashwiner said.
The second floor Business and Government Information Library (located off Rush Rhees’ Great Hall) is being converted to a Humanities Center, a project that is scheduled for completion sometime in September, Mavrinac said.
Across campus, more projects are underway.
Construction of the brand-new Wegmans Hall, future home of UR’s fledgling data science program, is ongoing but not expected to be completed until early 2017.
The new building will house the Goergen Institute for Data Science, as well as offices for computer science faculty, computer science research labs, and offices for the Department of Chemical Engineering, previously located in nearby Gavett Hall. No new classrooms or lecture halls are included in the new building, said Henry Kautz, who is the Robin & Tim Wentworth Director of the Goergen Institute for Data Science and a professor in the Department of Computer Science. When the building opens, there will be a cafe on the first floor.
Construction has occupied the nearby Science and Engineering Quad as well, blocking popular pedestrian access routes to Hylan Hall, Carlson Library, and Hutchison Hall. However, those routes will soon be accessible once again.
There’s a good deal of activity planned on that quad for Meliora [Weekend], so the science and engineering quad will be usable [by October 5],” Bashwiner said.
Intercampus Drive Lot, which runs the length of campus adjacent to Mt. Hope Cemetery, was also under construction for part of the summer, but, according to Bashwiner, “the lot is ready for full use” for the fall semester, with 13 new parking spaces added.
At the north end of campus, the hillside between Susan B. Anthony Residence Halls and Fauver Stadium is the site of a future freshman dorm and will remain under construction until fall 2017. A name has not been announced for the new dorm building, but it will contain athletic facilities.
Nearby, in the grassy picnic area in front of Susan B. Anthony., a campus swingset has been installed. The swingset was a runner-up in last semester’s 5K Challenge (an initiative adopted by SA to fund student ideas with grants of $5000 per year).
In addition to the major projects and new buildings, UR Facilites has orchestrated several other improvements to campus, including repairs to the brickwork at the top of the Goergen Athletic Center (which will continue into the next few months), construction of a new press box for Fauver Stadium, and numerous smaller projects.