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DEBT | 26 February 2013

SBI Led Consortium Of Banks To Lend Funds To Electrosteel Steels

by Ahemad Shaikh
 
@ahemad

@Electrosteel_Steels Limited is planning to raise funds from @StateBankOfIndia-led lender group for its steel project in Jharkhand.

Besides SBI, the other bankers to the company are Bank of India, Bank of Baroda, Allahabad Bank and Central Bank of India. The lenders have exposure for a little over R 7,500 Cr.

Electrosteel Steels (ESL), promoted by the Electrosteel group of Kolkata, was incorporated in December 2006. ESL is setting up a 2.51 Mn tonnes per annum (MTPA) integrated steel & ductile iron pipe project (including Captive Power Plant [CPP] of 120 MW) at Bokaro.

Update: Dr Lal PathLabs Raises Investment From WestBridge And TA Associates

Westbridge Capital along with TA Associates has invested $44 Mn in Pathology Chain – Dr Lal Pathlabs for minority stake, Mint stated.

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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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