AIMCF TO TAKE 11% IN GIPCO
Article Abstract:
The Asian Infrastructure Mezzanine Capital Fund (AIMCF) is acquiring 11 percent stake in the Gujarat Industries Power Company Limited (Gipco). Gipco is a venture of the Government of Gujarat. Gipco plans to issue preferential shares for Rs86 crore to AIMCF. The funds will be used to finance the lignite-based 250 mw power project to be set up at Mangrol at a cost of Rs1,500 crore. The Government's stake will be reduced to 63 percent from 68 percent in the enhanced equity of Gipco. Gipco has a paid-up share capital of Rs75 crore. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
TANNIRBHAVI GIVES 10% STAKE TO GMR VASAVI
Article Abstract:
The Tannirbhavi Power Company, promoted by Chicago Power Inc of the US, has offloaded 10 percent equity in favour of GMR Vasavi Power Corporation Ltd. This will bring in an additional investment of Rs156.5 crore while the paid-up equity capital of the project will increase to Rs285 crore. TPC is in the process of appointing an engineering, procurement and construction contractor for the project. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: AGRANI SATCOM PROJECT SET TO TAKE OFF SOON. RBI SETS TONE FOR LOW RATE
- Abstracts: SBI TO PAY 3.5% ON GOLD DEPOSITS. CALL RATES REMAIN STABLE
- Abstracts: TVS SUZUKI PLANS TO RIDE ON INTERNATIONAL TURF. TVS SUZUKI TARGETS 25% OF TWO-WHEELER MARKET
- Abstracts: YBL TO HANDLE MATHURA REFINERY'S OFF-SITE AUTOMATION. ORACLE, CAG CLOSE DEAL FOR LICENCES. SBI SANCTIONS Rs200-CR `GENERAL' LOAN TO ITC
- Abstracts: UB SELLS KREST FINLEASE TO HYDERABAD GROUP. KPMG LIKELY TO BUY OUT FERGUSON'S OPERATIONS. UBL TO BUY BACK 30% IN NATIONAL SORGHUM