Lanco Infratech is reportedly planning to sell power plant with capacity of 3,000 MW to raise Rs 20,000 crore. In this regard, the Hyderabad-based company has appointed investment bankers. The selling of electricity assets will help the company to reduce debt which was at around Rs 38,000 crore before it sealed a deal to sell its coalfired 1,200 MW Udupi Power Corporation to the Gujaratbased Adani Power.
Further, the company has appointed bankers to help it raise at least Rs 2,000 crore in equity through an IPO and Rs 1,000 crore more in the form of private placement of shares of the holding company to financial intitutions.
Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz EPC, Power, Solar, Natural Resources and Infrastructure.
The promoters holding in the company stood at 70.16% while Institutions and Non-Institutions held 5.87% and 23.98% respectively.
Lanco Infratech is currently trading at Rs 9..39, up by 0.44 points (upper circuit) from its previous closing of Rs 8.95 on the BSE.
Further, the company has appointed bankers to help it raise at least Rs 2,000 crore in equity through an IPO and Rs 1,000 crore more in the form of private placement of shares of the holding company to financial intitutions.
Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz EPC, Power, Solar, Natural Resources and Infrastructure.
The promoters holding in the company stood at 70.16% while Institutions and Non-Institutions held 5.87% and 23.98% respectively.
Lanco Infratech is currently trading at Rs 9..39, up by 0.44 points (upper circuit) from its previous closing of Rs 8.95 on the BSE.
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