Lanco Infra lenders look to rejig co, carve out power biz: Srcs

In yet another case of lenders grappling with huge debt, credit-banks are looking to reorganise Lanco Infratech with an aim to pare its massive debt of Rs 40,000 crore, reports CNBC-TV18's Ritu Singh.The consortium of lenders led by ICICI Bank held a meeting in this regard and told the company they are looking to restructure it. Currently, the company has over 50 subsidiaries. The lenders will look to carve out the power business into a single vertical and make room available for an external strategic investor.Lanco Infratech needs at least Rs 1,800 crore equity to complete its three projects.

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