ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Indo Holland Agro Exports

EPW Research Foundation PRISM CEMENT, initially incorporalcd as Karan Cement. is establishing a state- of-the-art cement plant with a capacity of 2 mtpa of ordinary port land cement in Satna in north Madhya Pradesh. Production is expected to begin in November 1996. The plant location has the dual advantage of proximity to the cement deficit markets in the northern and eastern parts of the country and availability of limestone, coal and other inputs close to the plant. The plant site is well connected by road and rail. The project has been appraised by Industrial Credit and Investment Corporation of India (ICICI) and International Finance Corporation. Washington (IFC-W) and the cost is estimated to be Rs 575 crore. IFC-W has sanctioned a term loan of $ 30 million and is participating in equity to the extent of Rs 15.75 crore. ICICI has sanctioned a term loan of Rs 80 crore and is underwriting Rs 20 crore. For part financing the project the company is entering the capital market on January 31 with two simultaneous but unlinked public issues of 7.87.60,000 equity shares of Rs 10 each at par aggregating Rs 7,876 lakh and 37 lakh 13.5 per cent secured redeemable partly convertible debentures of Rs 250 each at par aggregating Rs 9,250 lakh. The company has also made arrangements for buy-back of non- convertible portions of debentures with UTI and HDFC, The issue is to be lead managed by ICICI Securities and Finance Company. SBI Capital Markets, DSP Financial Consultants and Kotak Mahindra Finance.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top