Kerala CM Pinarayi Vijayan rings opening bell at London Stock Exchange as KIIFB lists masala bonds
Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan rang the opening bell at the London Stock Exchange (LSE) Friday to mark the listing of masala bonds sold by Kerala Infrastructure Investment Fund Board (KIIFB), according to an official statement.
KIIFB, a state government agency, had raised Rs 2,150 crore through its debut masala bond issue. KIIFB plans to raise Rs 5,000 crore through masala bonds to fund large and critical infrastructure projects in Kerala.
Indian Rupee denominated overseas bonds are popularly known as masala bonds.
"This was not only the first-ever offshore capital market issuance from a state-level entity from India, but also the largest dual currency issue by a sub-sovereign backed entity from the entire emerging markets and Asia," the KIIFB had said.
The transaction was priced on March 26, 2019 and saw strong participation from a wide spectrum of investors which included asset managers, insurance companies, pension funds, banks as well as private wealth managers, it had said in the statement.
"With a view to establishing its credit profile and market standing, KIIFB had undertaken a detailed rating exercise through two international credit rating agencies - Standard and Poor's and Fitch Ratings," the state agency had said in a statement.
The masala bond market till date had seen issuance only from large Indian corporates and public institutions such as National Highways Authority of India (NHAI) and NTPC which are all rated AAA in the domestic market.
Vijayan, who is on a 13-day trip to Europe from May 8, has participated in various programmes, including the United Nations (UN) World Reconstruction Conference in Geneva, Switzerland.
The 2018 Kerala flood, which ravaged the state and claimed 483 lives, was among the major disasters reported globally last year, including the California wildfire and the floods in Japan.
The Post Disaster Needs Assessment (PDNA) report prepared by a UN team said Kerala would need Rs 31,000 crore for rebuilding.
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Hubballi: Gym trainer assaulted; police say clash due to personal reasons
Hubballi: A gym trainer was allegedly assaulted by a group of people following accusations of sexual assault and ‘love jihad’, even as both families involved in the case traded serious allegations.
According to police, a group of individuals went to the residence of Sameer Mulla, a resident of Vijayanagar, and questioned him over his friendship with a woman he had met at a gym. The situation escalated into a clash, during which he was allegedly dragged away and assaulted. He sustained minor injuries and was admitted to KIMS hospital.
N. Shashikumar said that after this incident, members from Sameer’s side went to the woman’s house, leading to another clash in which one person was injured. “It was wrong for groups to go near houses. We will take necessary legal action,” he said, adding that the incident appears to have arisen from personal reasons. Police have taken some individuals into custody and are investigating the matter.
Sameer Mulla was reportedly thrashed by a group of Sangh Parivar activists and later handed over to police at the Old Hubballi Police Station after relatives of the woman and members of Hindu organisations gathered at his residence in Rajnagar.
The woman’s family alleged assault and threats from Sameer’s relatives at their Vikas Nagar residence.
Meanwhile, Sameer’s family denied the allegations and accused the woman’s relatives and others of assaulting and kidnapping him. His sister said the two had been in a relationship for three years and that the allegations were baseless.
Police said statements from both sides have been recorded, and a detailed investigation is underway. Sameer remains hospitalised, and appropriate legal action will be taken based on findings.
In a video statement shared on social media, the 20-year-old woman alleged that Sameer had given her an intoxicant, recorded videos without her consent, and sexually assaulted her. She lodged a complaint alleging rape and blackmail, which police are investigating.
In another video, Sameer denied the allegations, claiming the video was recorded with consent and that the accusations were made under pressure.
Former Hubballi-Dharwad Urban Development Authority (HDUDA) chairman Nagesh Kalburgi termed the incident a serious matter and urged police to take strict action.
Police said the case involves multiple complaints from both sides, and further investigation is underway.
