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2|Finance Info News in Brief


DSC plans to raise `300 billion IPO


Builder of India’s largest toll plaza, DSC plans to raise Rs 30 billion ($675 million) in an initial public offering for which pre- liminary share-sale documents will be filed with capital mar- kets regulator by end of January. Credit Suisse Group AG and IDFC Capital were hired for the pur- pose. DSC is controlled by New Delhi’s Narula family and has built the toll plaza that connects the nation’s capital to its satellite town of Gurgaon and has 32 lanes for vehicles. Since it was set up in 1978, the company has developed roads, water treat- ment plants, railways and urban infrastructure.


India Cements to raise


stake in IndoZinc to 90% India Cements has plans to increase its stake in IndoZinc from 69 per cent to not more than 90 per cent. IndoZinc has notified the exchanges that it will issue further equity or preference shares or other equity related


securities for a sum not exceed- ing Rs 300 crore. It also informed that it will change its name to Trinetra Cement. India Cements through its arm ICL Financial Services had first acquired 53 per cent in IndoZinc and later raised it to 69 per cent. It is setting up a plant at Mahi in Rajasthan which will begin commercial produc- tion from the January quarter.


RRP Infra Projects fixes IPO price band


RPP Infra Projects, a con- struction firm, has fixed a price- band of Rs 68-75 for its Initial Public Offering (IPO) of Rs 48- crore, scheduled to hit the mar- ket on November 18. The IPO comprises a fresh issue of 61 lakh equity shares by RPP Infra Projects and an offer for sale of four lakh equity shares by the promoters. The issue closes on November 22. The issue would constitute 28.76 per cent of the post- issue paid-up capital of the company and the net issue would constitute 26.99 per cent of the post-issue paid-up capital of the company.


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Projects Info | 22 - 28 November| 2010


he World Bank is ready to re-examine its norms on funding the viability gap and annuity payment for high- way projects in order to reach a mutually acceptable model. India’s road transport and high- ways ministry has sought a loan of US$2 billion. The loan has been a subject of serious discus- sion of late as the World Bank has asked for some changes in


WB to re-examine norms, annuity plan for highways T


the annuity model observed by India. However, finance ministry is against the sought changes. The multi-lateral funding institution wants that National Highways Authority of India (NHAI) to give a pre-specified percentage of total project cost to the concessionaire as cash- support-during-construction, unlike the current model of making semi-annual payment


State Bank of Travancore mandated to raise `2,500 cr


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he Kerala government has decided to rope in State Bank


of Travancore (SBT) to lead the consortium of banks and finan- cial institutions to raise Rs 2,500 crore for funding the preliminary work of the proposed Vizhinjam international deep-water con- tainer transhipment terminal at Thiruvananthapuram. The consortium would also include other Kerala-based peers, including Dhanlaxmi Bank, Federal Bank and South Indian Bank. Four or five finan-


cial institutions are also sought to be waved in on board the con- sortium. SBI Caps would be the lead arranger for the syndicated loan. Multilateral institutions such as Asian Development Bank and the World Bank are also on the radar. An estimat- ed Rs 1,600 crore, being raised, would be earmarked for set- ting up the civil infrastructure, including the breakwater. The rest would be set apart for the port operator, the bidding for which would begin next week.


Export-Import Bank for a $5 bil- lion loan to finance power proj- ects. The loan from the bank will be used specifically to buy U.S. goods and services over the next three years. The loan will finance Reliance Power’s proj- ects, which include 900 MW of renewable technologies such as solar and wind energy, as well as up to 8000 MW of gas-based power generation technology.


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IVRCL Assets plans `600-crore QIP, to sell 49per cent stake H


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yderabad-headquartered IVRCL Assets and Holdings intends to sell up to 49 per cent stake in three of its road proj- ects to tie up funds for future projects and raise Rs 600 crore through qualified institutional placement (QIP) of shares by March. It is also looking at sell- ing stake in its SPVs so that it has sufficient funds for future proj-


at the time of maintenance. Finance ministry opined that frequent changes in the bid documents of road projects may deter investors from taking up the contracts. The government had recently implemented key amendments in the bid docu- ments to attract more private companies. The amendments include one-time payment of viability gap funding.


Reliance Power to get `25, 000 cr loan from US Bank


eliance Power has signed an agreement with the U.S.


ects. IVRCL Assets and Holdings, a subsidiary of the E Sudhir Reddy-led IVRCL Infrastructures & Projects , is an infrastruc- ture developer with a presence in roadways, oil and gas, power, ports and desalination proj- ects.The company, a part of the IVRCL Group, has an enabling resolution to raise a total of Rs1,000 crore through QIP.


Jindal Power to raise `7,000 cr, expand steel and power capacity


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indal Power, a subsidiary Jindal Steel and Power, is likely to raise Rs 7,000 crore through initial public offer (IPO) in the next six months. According to the Executive Vice Chairman and Managing Director Naveen Jindal, the company will augment its pow- er generation capacity to 6,000 MW in three years from the current 2,000 MW. The com- pany also has plans to increase


Price as on 15/11/10


steel production capacity to 10 million tonne per annum in three years from the present 3 million tonne per annum. JSPL will also invest US$ 2.1 billion in a mining project in Bolivia, South America. The company has been granted approv- als and 3,000 acre of land to develop the El Mutun iron ore deposit and set up a steel plant in Bolivia’s Santa Cruz area.


Infra stocks movement over the week Company


Bhel L&T


IVRCL infra


2,398.25 2,080.85 135.45


51.45 45.75


Price as on 19/11/10


2,256.65 2,045.90 125.55


SPML 281.3 252.75 GMR Infra GTL Infra Unity Infra IRB Infra


Lanco Infra Era Infra


110.45 247.1 63.1


227.4


103.75 242.25 64.05 226.2


49.05 43.85


Change (%)


-5.90 -1.68 -7.31


-10.15 -4.66 -4.15 -6.07 -1.96 1.51 -0.53


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