Fund Raising

Essar Group is raising around Rs 1,000 crore via domestic loans for the expansion of Hazira port and to set up a captive power plant for its steel business at the same location.

Central Bank of India seems well set to raise Rs 2,500 crore in tier-I capital in this financial year, Central Bank CMD S Sridhar disclosed this on the sidelines of a Ficci-organised Banking Conclave.

Coromandel International (CIL), fertiliser firm of $3.03 billion Murugappa group, eyes strong growth in non-subsidy business. The company, which is transforming itself into a diversified agro-solutions company, seeks to increase its revenues from non-subsidy business to over Rs 3,000 crore in the next three years.

To meet their growth plans, Indian companies and ban­ks are likely raise around Rs 150,000 crore of debt thr­ough issue of bonds in the ongoing financial year. According to industry experts, sectors like manufacturing, infrastructure and banks are likely to tap the debt market to raise money.

IT firm planned to raise Rs 131cr for new facility

The fund raised would be used for equity gap funding of power projects