Steel Authority of India is set to award an arm of ACB India Ltd a 30-year contract to mine, develop and operate its 14 million tonne per year Rowghat iron-ore mine in Chhattisgarh, according to an official familiar with the development.
Sebi had issued its final 'observations' on the draft offer documents of Shree Pushkar chemicals and fertilizers and ACB (India) on February 2 and February 6 respectively, according to the latest update by the market watchdog.
Rating agency CRISIL has assigned an IPO grade of 4/5 (four on five) to coal beneficiation firm ACB India‘s forthcoming initial public offer. According to media reports, the company is planning to raise Rs 1000 crore, of which Rs 575 crore will be through fresh issue of shares and the rest through existing shareholders diluting stake.
Coal washeries operator ACB India is planning to raise up to Rs 1,000 crore through initial public issue and offer for sale (OFS) routes in this fiscal.
The government today said it has cleared 21 foreign direct investment (FDI) proposals amounting to Rs 1,027 crore, including those of ACB India and Oriental Tollways.