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Sterlite Industries to raise Rs 2,500 crore via bonds: Report

08 Jun 2012 Evaluate

Sterlite Industries is reportedly mulling to raise Rs 2,500 crore by issuing 5-year bonds with a put/call option at the end of third year and 10-year bonds with five-year put/call, in order to fund the requirements of Sterlite Energy, and so is in talk with several bankers for the same.

 Base size of the issue is expected to be at Rs 1,500 crore with a green shoe option of up to Rs 1,000 crore. Meanwhile, the issue will have a security cover of 1.25 times by Sterlite Energy assets.

Sterlite Energy, the energy arm of Vedanta Resources Plc, has taken a major initiative towards the advancement of the power infrastructure by developing two thermal power projects, one in Jharsuguda, Orissa and another in Talwandi, Punjab, with a combined proposed installed capacity of 4,380 MW.

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Company Name CMP
Hindalco 1038.95
Vedanta 787.60
Hindustan Zinc 592.35
Jain Resource Recycl 420.90
Gravita India 1639.80
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