Lanco Infratech jumps on entering into MoU with China Development Bank

26 Nov 2012

Lanco Infratech is currently trading at Rs. 12.86, up by 0.64 points or 5.25% from its previous closing of Rs. 12.19 on the BSE.

The scrip opened at Rs. 12.15 and has touched a high and low of Rs. 13.09 and Rs. 12.01 respectively. So far 48, 80,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 25.10 on 17-Feb-2012 and a 52 week low of Rs. 8.50 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 13.09 and Rs. 12.01 respectively. The current market cap of the company is Rs. 3,089 crore.

The promoters holding in the company stood at 72.00% while Institutions and Non-Institutions held 6.58% and 21.42% respectively.

Lanco Infratech (LITL), the leading integrated infrastructure conglomerate with global footprints having businesses in the fast growing industry verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure has entered into a memorandum of understanding (MoU) with the China Development Bank (CDB), a bank owned by the Government of Peoples Republic of China, to arrange $2 billion debt for two power projects i.e., Anpara Phase II and Himawat, each having capacity of 2x660 MW with supercritical boiler technology.

Out of the total amount of $2 Billion required to be raised, $600 million will be contributed by CDB, and CDB will syndicate the balance from Chinese banks and FIs.

LITL is one of the largest private sector IPPs in India having an operating capacity of 4740 MW with another 4636 MW is under various stages of execution. This includes projects based on Coal, Gas, Hydro, Solar and Wind. The company has a target of holding 13000 MW operating capacity by 2015. The company has an EPC order book of Rs 28,500 crore.

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