RUIAS SEEK LOAN OF Rs728 CR

Article Abstract:

The Ruias of the Essar group have asked financial institutions (FIs) for a loan of Rs728 crore, which involves a Rs350 crore residual capital expenditure loan for Essar Steel Ltd and a Rs378 crore loan for Essar Minerals Ltd to finance a pipeline between the iron ore mines at Bailadilla and the pelletisation plant at Vizag. The pipeline will save about Rs200 crore for the company annually, which can be used to repay FI loans. The FIs feel that the Essar group should raise the finance by divesting some of its businesses. (khr)

Comment:

The Ruias of the Essar group have asked financial institutions (FIs) for a loan of Rs728 crore, which involves a Rs350 crore residual capital expenditure loan for Essar Steel Ltd and a Rs378 crore loan for Essar Minerals Ltd to finance a pipeline between the iron ore mines at Bailadilla and the pelletisation plant at Vizag.

Pipeline Construction, Water, Sewer, and Pipeline Construction, Diversified Companies, Essar Group, Essar Steel Ltd., Essar Minerals Ltd.

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ADITI TECH MULLS FINANCING OPTIONS

Article Abstract:

Aditi Technologies, an electronic services company of Bangalore, is studying different options to finance its future plans. The company, which plans to raise about $6 million through a combination of debt and equity, is also considering whether a merger with Aditi Corporation of the US is necessary to conclude its funding plans. It will decide in the next two months whether to induct venture capital or to come out with an initial public offering. (khr)

Strategy & planning, Computer Services, Computer Systems Design and Related Services, Other Electrical Equipment and Component Manufacturing, Electronics, Information technology services, Aditi Technologies Private Ltd.

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