NEW DELHI (Reuters) - Lanco Infratech Ltd is in talks with investors to sell a minority stake in its power business to raise $600-750 million to fund expansion, a senior executive said on Tuesday.
Lanco will consolidate its power business under one vertical and raise funds by the first quarter of 2012/13, Philip Chacko, director, investor relations, told Reuters in a telephonic interview.
Lanco has ready-to-generate capacity of 4400 MW and is constructing 4900 MW of power plants. It also has a pipeline of another 4000 MW where construction is yet to start.
(Reporting by Sanjeev Choudhary; Editing by Harish Nambiar)
