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DEBT | 5 March 2012

IFC May Invest $400 Mn In Power Grid Corporation

by Irfan Khan
 
@irfan

IFC may invest $400 Mn in @Power_Grid Limited, a national power transmission company of India responsible for planning, coordination and undertaking high voltage inter-state transmission in the country.

Power Grid has undertake project to enhance electricity transmission infrastructure in India.

The total project cost is estimated to be $2.3-3.5 bn over the next 12 months proposed to be 70% financed with debt and remaining from internal accruals.

IFC will invest $400 Mn which constitutes 15% of project cost, while balance debt will be raised including from multilaterals namely World Bank and ADB, and through issuance of domestic bonds.

L Capital To Invest R750Cr In Raymond Apparel

L Capital is planning to invest R750Cr ($150 Mn) in Raymond Apparel Limited, a subsidiary of Raymond Limited for minority stake.

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German Partner Mulheim Pipe Exits Welspun Enterprises

After selling its entire stake in Welspun Corp, German partner Mulheim Pipe Coatings (MPC) GmbH has sold its entire holding of 3.14% in the demerged unit of Welspun Corp, Welspun Enterprises, for a total consideration of INR 50 Mn. The stake was bought by Welspun Infra Developers Limited at a unit price of INR 121, by way of a private arrangement.

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