Lanco Infratech gains on talks to sell stake in 3 power units for Rs 2500 crore

18 Feb 2013

Lanco Infratech is currently trading at Rs. 11.52, up by 0.03 points or 0.26% from its previous closing of Rs. 11.49 on the BSE.

The scrip opened at Rs. 11.70 and has touched a high and low of Rs. 11.70 and Rs. 11.49 respectively. So far 35,000 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. 10.49 on 29-Aug-2012.

The current market cap of the company is Rs. 2,773.00 crore.

The promoters holding in the company stood at 70.83% while Institutions and Non-Institutions held 5.16% and 24.00% respectively.

Lanco Infratech is in talks with strategic and financial investors to sell stake in three power projects separately to raise over Rs 2,500 crore after attempts to sell stake in its arm that owns all the units failed. The shift in strategy comes after almost a year of attempts by Lanco to raise up to Rs 4,150 crore by selling a minority stake in its power holding company to private equity funds or strategic investors.

Lanco Infratech has been struggling to stay afloat as it deals with a staggering debt of Rs 35,500 crore, its inability to recover almost Rs 3,000 crore of receivables from state discoms even as it is forced to run plants at low capacity due to paucity of fossil fuel. 

Related Lanco Infratech Ltd. Links:

Lanco Infratech Share Price

0.42 0.00 (0.00%) Sep 12, 17:59
1 Year Price Chart
Peers
Company Name CMP
Larsen & Toubro 1423.05
NCC 58.45
KEC International 264.95
Rail Vikas Nigam 23.85
Sterling and Wilson 545.00
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Sensex vs Lanco Infratech
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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