Key Developments: Lanco Infratech Ltd (LAIN.NS)

LAIN.NS on National Stock Exchange of India

21 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Lanco Infratech Ltd clarify s plan of selling Aussie Coal, Indian Road Assets
Monday, 13 Oct 2014 01:23am EDT 

Lanco Infratech Ltd:Clarify that as per earlier intimations and as part of medium and long term strategies, discussions are in progress with some strategic / financial investors for stake sale in Road Projects and Griffin Coal Mine.Says the said discussions are in preliminary stage and nothing definitive action is in process.  Full Article

Lanco Infratech Ltd plans $825 mln asset sale - Reuters
Monday, 8 Sep 2014 11:15pm EDT 

Lanco Infratech Ltd:Plans to sell power projects to raise 50 billion indian rupees ($825 million) and pay down its debts - Reuters.Says it will sell 3,000 megawatts of generating capacity assets.  Full Article

Lanco Infratech Ltd sold Udupi Power plant to Adani power Ltd
Wednesday, 13 Aug 2014 10:40am EDT 

Lanco Infratech Ltd:Says it has sold its Udupi Power plant to Adani power Ltd.Says deal is valued at more than Rs 6000 crore (60 bln Indian Rupee).Says transaction will support company in reducing its debt and will enable Lanco to receive about Rs 2000 crore (20 bln Indian Rupee) as cash and additionally, Adani power will take UDupi Power's long-time debt of about Rs 4000 crore (40 bln Indian Rupee).  Full Article

JSW Energy Ltd close to buying Lanco Infratech Ltd’s Udupi plant-Business Standard
Thursday, 24 Jul 2014 10:59am EDT 

Lanco Infratech Ltd:JSW Energy Ltd is close to acquiring Lanco Infratech Ltd’s 1,200 Mw Udupi power plant in a deal worth nearly 60.00 bln Indian Rupees-Business Standard.  Full Article

Lanco Infratech Ltd's subsidiary signs an agreement to divest stake in Lanco Budhil Hydro Power project; to sell two small hydro power plants
Monday, 3 Feb 2014 01:59am EST 

Lanco Infratech Ltd:Says a subsidiary Lanco Hydro Power Ltd (LHPL) signs an agreement with Tejassarnika Hydro Energies Private Ltd, a subsidiary of Greenko Energies Ltd to divest 100 pct stake in 70 MW Lanco Budhil Hydro Power Project.LHPL has also entered into an MOU to sell two small hydro power plants of 5MW each located in the Kangra district of Himachal Pradesh, to Greenko Energies Ltd.  Full Article

Gujarat Industries Power Co Ltd Announces Cancellation Of Letters of Intent Issued To M/s. Lanco Infratech Ltd. For Implementation Of 2 x 300 MW Lignite based Expansion Power Project
Friday, 18 Oct 2013 01:24am EDT 

Gujarat Industries Power Co Ltd announced that with reference to earlier communication dated June 03, 2013, Gujarat Industries Power Company Ltd now announced that due to the inability on the part of M/s. Lanco Infratech Ltd (M/s. LITL) to furnish the required 10% Contract Performance Bank Guarantee as per the stipulated time period and thus committing breach and violation of the EPC Tender Conditions, the Company (GIPCL) has cancelled the Letters of Intent (LOIs) for EPC Contracts dated June 01, 2013 issued to M/s. LITL in respect of implementation of 2 x 300 MW Lignite based Expansion Power Project.  Full Article

Gujarat Industries Power Co Ltd Issues LOI To Lanco Infratech Ltd For 600 MW Lignite Based Power Project At Mangrol-Business Standard
Wednesday, 5 Jun 2013 10:30am EDT 

Business Standard reported that Gujarat Industries Power Co Ltd has issued letter of intent (LOI) to Lanco Infratech Ltd for implementing a 600 Mw lignite based power project at Mangrol near Surat on engineering, procurement construction (EPC) basis. The Company has envisaged an investment of INR42 billion for the project, informed senior company official.  Full Article

Lanco Infratech Ltd Bags INR32.939 billion Orders-Business Standard
Monday, 3 Jun 2013 10:24am EDT 

Business Standard reported that Lanco Infratech Ltd has bagged orders worth INR32.939 billion (INR3,293.9) crore from Gujarat Industries Power Company Limited for civil works as well off-shore and on-shore supplies among others.  Full Article

Lanco Infratech Ltd Trimming Staff By 20% To Reduce Cost-Business Line
Monday, 22 Apr 2013 08:00pm EDT 

Business Line reported that Lanco Infratech Ltd, which has interests in power, engineering, procurement and construction (EPC), infrastructure and natural resources, is cutting down workforce by nearly 20%. This is part of the consolidation strategy to save cost, said L. Madhusudhan Rao, Executive Chairman. Lanco has been incurring financial losses on lower margins, capitalisation and soaring interest charges. He, however, did not divulge any target to save cost by reducing employees. The Company is seen reducing employee cost by 7%-10%every quarter. Till last year, the Company had employed nearly 7,000. It has come down to about 6,000 and another 500-600 employees may face the risk of losing their jobs.  Full Article

Lanco Infratech Ltd To Sell Stake In Three Power Units For INR2500 Crore (INR25 billion)-The Economic Times
Wednesday, 13 Feb 2013 11:30pm EST 

The Economic Times reported that Lanco Infratech Ltd is in talks with strategic and financial investors to sell stake in three power projects separately to raise over INR2,500 crore (INR25 billion) after attempts to sell stake in arm that owns all the units failed. The shift in strategy comes after almost a year of attempts by Lanco to raise up to INR4,150 crore (INR41.5 billion) by selling a minority stake in power holding company to private equity funds or strategic investors. Now, the Company aims to raise over INR1,500 crore (INR15 billion) by selling 50-75 % stake in 1,200 mw coal-fired Udupi power plant. It is also talking to investors to sell stake in operational 600-mw Amarkantak and under-construction 1,320-mw Babandh power projects to raise a total of INR1,000 crore (INR10 billion), T Adibabu, Chief Operating Officer- Finance said.  Full Article

Deals of the day- Mergers and acquisitions

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