Newsmakers: IndiGo raises $459 mn, manufacturing growth falls and more

RCom buys Sistema's MTS India in all-stock deal
Reliance Communications (RCom), India's fourth-largest telecom operator, announced the acquisition of Russian conglomerate Sistema 's Indian telecom unit in an all-stock deal that will create an operator with 118 million subscribers. Sistema Shyam Teleservices Ltd (SSTL) will hold about 10 per cent stake in RCom and pay off its existing debt before closing the deal.

September infrastructure output up 3.2% y-o-y
The infrastructure output grew at its fastest pace in four months to 3.2 per cent in September from a year ago, mainly driven by higher production of electricity and fertilisers, government data showed. The output had grown 2.6 per cent year-on-year in August. The infrastructure sector accounts for nearly 38 per cent of the country's industrial output.

Tax evasion will be difficult when information exchange comes: FM
Finance Minister Arun Jaitley said with real-time global automatic exchange of information system coming into effect in a couple of years, tax evasion and money laundering will become an "extremely difficult" proposition.

IndiGo raises $459 mn in IPO, at upper end of range
InterGlobe Aviation, owner of budget airline IndiGo , raised $458.91 million in an initial public offering after setting the pricing at Rs 765 per share, according to a prospectus on November 2, 2015. That was at the upper end of a price range of Rs 700 to Rs 765 per share. The book-building closed in previous week, having attracted orders worth six times the number of available shares.

Moody's upgrades banking sector outlook to stable
Moody's Investors Service has upgraded its outlook for the country's banking system to 'stable ' from 'negative' on expectation that a gradual improvement in the operating environment for lenders will lead to lesser growth in bad loans in future. Moody's had assigned a negative outlook to the banking system in November 2011 as it was of the view that the asset quality of the lenders was deteriorating.