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News Roundup: Essar Ports re-finances Rs 405Cr debt through IIFCL

21 September, 2012

Essar Ports re-finances Rs 405-cr debt through IIFCL: Essar Ports has re-financed its debt in a subsidiary, Essar Bulk Terminal Ltd , through a finance scheme of the India Infrastructure Finance Company Ltd (IIFCL).The ports major has availed of the take-out finance scheme to reduce its interest rate by over two-and-half per cent on Rs 405 crore, which is part of the debt taken for building its 30 million tonne capacity bulk terminal at Hazira in Gujarat. (Business Line)

Dr Lal Pathlabs eyes Africa for its first global venture: Dr Lal Pathlabs, one of the largest pharmaceutical chains in the country, is poised to enter foreign waters soon, while also expanding into South and West India, said Chief Executive Officer, Om Manchanda.Manchanda said the firm would invest up to Rs 550 crore ($100 million) for its expansion plans. He said the money would be raised from internal accruals, debt and two global private equity firms. (Business Line)

BITS Pilani to buy out ETA Star Group’s stake in its Dubai outfit for Rs 100Cr: BITS Pilani, the premier educational institute of the Birla family, is close to buying out its 12-year-old partner ETA Star Group’s stake in its Dubai outfit as it embarks on an expansion plan to reinvent itself as a teaching and research institute. (The Economics Times)

Gayatri Projects to invest in overseas joint ventures: Members of Gayatri Projects Ltd have approved a proposal of the management to invest in overseas joint venture companies and also the acquisition of Gayatri Trident FZC, an overseas joint venture company. (Business Line)

Adani Group, global port firms and PEs in race to bid for a majority stake in Dhamra Port: The Adani Group, global port operators and sovereign and private equity funds are likely to bid for a majority stake in Dhamra Port, located in Odisha, indicating that Indian infrastructure assets remain attractive for long-term players despite the sharp slowdown experienced by Asia’s third-largest economy. (The Economics Times)

Courtesy: VCCEdge   


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News Roundup: Essar Ports re-finances Rs 405Cr debt through IIFCL

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