Binani Ind looking to place 10% equity in Binani Zinc: Srcs

According to sources, Binani Industries is looking to place 10% equity in Binani Zinc . Binani Industries is in talks with FIs for the Binani Zinc stake sources added. The management of Binani Industries has said that they are working on raising money via Binani Zinc.

CNBC-TV18 has learnt that Binani Industries is looking at raising money via its subsidiary Binani Zinc.

Sources say that the company is looking to place around 10% equity in Binani Zinc. It is in talks with financial institutions for placing equity.

Binani Industries’ management says, it is working on raising money via Binani Zinc, bit it may take time.

The company’s market cap is at about Rs 700 crore.

Let’s look at Binani Industries – It holds 65% stake in Binani Cements, worth Rs 1,850 crore. It hols a 100% stake in Binani Zinc, Binani Glass Fibers and Binani Composites .

Binani Zinc’s plant has a capacity of 38,000 tpa. It is located across 110 acres of land in Kerala.

CNBC-TV18 Disclaimer
This information is source-based and has not been provided to the stock exchanges and is source-based.