The company‘s lenders are looking to bring in strategic investors for sale of its power business of 8000 megawatt, reports CNBC-TV18‘s Ritu Singh, quoting sources. The enterprise value of Lanco‘s power business is pegged at Rs 45,000 crore inclusive of debt.
For the past week the 9,000 crore rupee loss that Vijay Mallya has caused the banking system has dominated headlines and mind space.
ArcelorMittal today said it has voluntarily surrendered its stakes in 2 coal blocks, Rampia and Dip side of Rampia, following its decision to exit from the USD 12 billion steel project in Odisha in July last year.
Lanco Group plans to construct a shopping mall called 'The Lanco Hills Mega Mall' in Hyderabad, expected to be the largest in South India, at an investment of Rs 500 crore, a company release said.
Giving a fillip to the economic ties between the two countries, India and China today inked 11 agreements entailing investment of over USD 5 billion (about Rs 27,865 crore).
In an interview with CNBC-TV18, J Suresh Kumar, CFO, Lanco Group, spoke about the latest happenings in his company and sector.