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Essel Infraprojects Ltd, part of Subhash Chandra-led Essel Group, has raised ₹600 crore through non-convertible debentures 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 was recently completed by the Essel Lucknow Raebareli Toll Roads Ltd, a fully owned subsidiary of EIL.
It is annuity based project with fixed income of ₹100.40 crore per annum from NHAI. The concession period for the project is 17 years. Ashok Agarwal, Director & CEO, said: “The company is ideally placed to provide integrated solutions to support the Indian government’s vision to build smart cities across the country”.
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