Bharti Telecom, owned by billionaire Sunil Bharti Mittal, is planning to raise about Rs 8500 crore ($1.01 billion) in the local-currency bond market, according to people familiar with the matter. The company may seek bids for the notes due in three to 10 years next week, with the longer end bonds likely offering a coupon of 9%, they said, asking not to be named as the information is not public..
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IRB Infrastructure Developers reported a 9.1% year-on-year decline in revenue to ₹1,586 crore in Q2 FY25, but consolidated net profit rose 4.3% to ₹99.8 crore due to higher operating margins, with EBITDA margins improving to 48.3%. The company declared a second interim dividend of ₹0.10 per equity share.
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Karnataka relies heavily on liquor taxes, expected to contribute 20.3% of its tax revenue in FY25, making it one of the top five states dependent on liquor revenues. The state's dependence on liquor taxes has remained steady over two decades, but its contribution to the overall budget has fallen, highlighting the need to curb liquor imports to address fiscal deficit concerns.
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