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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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La Opala To Raise Funds From WestBridge

La Opala RG Limited is raising INR 552.7 Mn by issuing 5,02,468 Equity Shares at a unit price of INR 1,100 on preferential basis to WestBridge Crossover Fund, LLC. Post the issue which is pending for shareholder consent, Westbridge will hold 4.53% stake in the company.

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