Essel Infraprojects Raises Rs. 600 Crore through NCDs

Essel Infraprojects Limited (EIL), part of Dr. Sub hash Chandra led Essel Group has successfully raised Rs. 600 crore through non-convertible debentures (NCDs) at the semiannual coupon rate of 9.05% p.a. 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 p.a. from NHAI. The concession period for the project is 17 years. India Ratings and CARE Ratings have awarded a credit rating of AAA (SO) to ELRTRL.

On successful raising of Rs. 600 crore NCD, 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 & 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 2100 kms of roads and are currently constructing another 2500 kms of roads, i.e. total 4600 kms of roads in various states of India such as Madhya Pradesh, Gujarat, Punjab, Haryana, Uttar Pradesh, Maharashtra and Tamil Nadu.

About Essel Infraprojects

One of the fastest growing companies having diversified interests in infrastructure projects, Essel Infraprojects Ltd. Is a successful venture by the Essel Group with 3 SBUs & 6 business verticals comprising of order book value USD 4.55 billion and a National footprint in more than 14 states and across 52 cities. We aspire to contribute to India's growth story by investing in key infrastructure initiatives. The company has embarked on an exciting journey to transform the façade of our nation with significant infrastructure projects.

The group ventured in Infrastructure space in 2007 with an entry into the surface transport segment and today has presence in transport (roads), power transmission & distribution, urban infrastructure, environment engineering (municipal solid waste), renewable energy (solar & hydro), integrated utilities (power, water, solid waste management and cable & broadband).