Lanco Infratech Ltd said its 1,320 MW (2x660) thermal power project being developed by its unit Lanco Babandh Power Ltd in Orissa, has achieved financial closure.
The project, estimated to cost Rs6,930 crore, would be financed with a debt of Rs5,544 crore and an equity of Rs1,386 crore. A consortium of fourteen banks and financial institutions with ICICI Bank in the lead are providing the debt required for the project.
On Thursday, Lanco Infratech shares ended 1.2% up at Rs70 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 18,799 points.
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