Essel Infraprojects Ltd (EIL), part of Essel Group, has raised Rs. 600 crore through non-convertible debentures (NCDs) at the semi-annual coupon rate of 9.05 per cent per annum for Lucknow-Raebareli four laning project.
The project awarded by National Highway Authority of India (NHAI) was recently successfully completed by the Essel Lucknow Raebareli Toll Roads Ltd. (ELRTRL), a fully-owned subsidiary of EIL. It is annuity based project with fixed income of Rs. 100.40 crore per annum from NHAI. The concession period for the project is 17 years.
EIL’s CEO Mr. Ashok Agarwal said, “We are one of the fastest growing Infrastructure company having major surface transport, road projects and are aspiring towards making significant contribution in developing core infrastructure projects across the country. We are participating in the growth story of our nation by upgrading the infrastructure and utility across the country, thereby propelling the nation’s economy to superior height. The company is ideally placed to provide integrated solutions to support the Indian government’s vision to build smart cities across the country”.
EIL has completed around 2,100 kms of roads and are currently constructing another 2,500 kms of roads, i.e. total 4,600 kms of roads in various states of India such as Madhya Pradesh, Gujarat, Punjab, Haryana, Uttar Pradesh, Maharashtra and Tamil Nadu.