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Haldia Coke and Chemicals Ltd plans to raise Rs 125 crore through PE investments. Haldia Coke is a group company of Ennore Coke. The funds are expected to be used to by 90% stake in an Australian Mining company that Ennore Coke has been eyeing since a while (reported here). Ennore coke was incorporated as a public limited company on February 25, 1985 to carry out business of yarn, cloth, fibre and the business of leasing of moveable and immoveable properties, which were discontinued after September 2005. It is now an associate company of Shriram EPC Ltd, part of the Chennai-based Shriram group, which has a 32 per cent stake in the company. It produces coke, used in the conversion of ores into metals, from coking coal that comes from mines. Coke is a key raw material in steel production.
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