Adani group, LIC, Essar group, PATEL ENGINEERING
Adani group’s gross debt has grown
to Rs 2.21 lakh crore
Executives told investors they will address upcoming debt maturities including by potentially offering private placement notes and using cash from operations.
The Adani group, whose mostly debt-fueled breakneck expansion saw gross debt doubling in four years, has almost USD 2 billion worth of foreign-currency bonds coming up for repayment in 2024, according to a presentation the conglomerate made to investors.
The apples-to-airport conglomerate borrowed over USD 10 billion in foreign currency bonds between July 2015 and 2022 across group companies. Of this, USD 1.15 billion of bonds matured in 2020 and 2022.
There are no maturities in 2023 but three issuances – USD 650 million by the ports arm APSEZ and two of renewable energy unit Adani Green Energy Ltd (USD 750 million and and USD 500 million – are due for payment in 2024.
=====
LIC recoups losses of Adani Group shares
MumbaI: LIC holds shares in seven out of the 10 listed companies of the Adani Group.
State-owned Life Insurance Corporation (LIC) has recouped losses on its investment in Adani Group stocks after shares of the apple-to-airport conglomerate rose for the third consecutive session.
LIC holds shares in seven out of the 10 listed companies of the Adani Group. The shareholding ranges from 1.28 per cent in Adani Green Energy Ltd to 9.14 per cent in Adani Ports & SEZ Ltd, according to information available on stock exchanges.
=======
Essar group returns to steel business
 |
New Delhi: Essar group returns to steel business in a big way with $8-billion investment.
The $15-billion Essar group is making a quiet but big comeback to the steel industry with a global footprint in three mega projects with an investment of $8 billion over three to four years, according to a senior official.
company is Setting up steel plant in Saudi, an iron pellet plant each in Odisha, US.
=====
PATEL ENGINEERING BAGS RIHAND MICRO IRRIGATION PROJECT
PATEL ENGINEERING LIMITED ALONG WITH JOINT VENTURE (“JV”) PARTNER BAGS RIHAND MICRO IRRIGATION PROJECT, IT'S SHARE WILL BE 5,120.47 MILLION.
Mumbai: Patel Engineering Limited, a civil construction Company specialized in the hydropower and irrigation sector, today announced that, the Company along with the JV Partners have received letter of award for Rihand Micro Irrigation Project from Department of Water Resources, Madhya Pradesh, which was declared as L1 earlier.
The Company being 80% partner in the JV, our share in the project is Rs. 5,120.47 million.
The Project is about Construction of a Pressure irrigation system to supply water through the Rising/ Gravity mains by pressurized pipeline system for micro irrigation under Rihand Micro Irrigation Project, State of Madhya Pradesh.
Value of Contract is Rs. 6,400.59 million and time Period is 36 months.
Comments
Post a Comment