ESL to tie up Rs 23 bn loan for steel project

17 Nov 2012 CW Team

For the purpose of long-term project funding, Electrosteel Steels (ESL) plans to raise Rs 2,300 crore through a debt syndication with a consortium of bankers led by State Bank of India (SBI) for its Bokaro steel project.

The arm of Electrosteel Castings is in the process of implementing a 2.51 million tonne per annum (mn tpa) integrated steel plant at Bokaro.

Reports indicate that the firm may attain financial closure for the project within this month. The Kolkata-headquartered company has already pumped Rs 412 crore into Bokaro integrated steel project, as promoters鈥� equity.

The greenfield plant will be a fully integrated plant with all the production facilities like, sinter, coke oven, blast furnace, dolomite plant, oxygen plant, lime plant, captive power plant, rolling mill, wire rod mill, steel making shop, ductile iron pipe, pig iron, continuous casting machine.

It is learnt that the company has already established adequate raw material linkages and strategic location supported by leading Chinese consulting agency for supply of technology and engineering.

A top official of the firm is quoted as saying that the greenfield integrated steel plant would cater to the growing need of steel of the country.

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..