iconiifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

SBI, other PSU banks commit funding of Rs 6,071 crore to Adani Group for copper operations

27 Jun 2022 , 01:22 PM

According to a statement from the firm, Kutch Copper Ltd. (KCL), a subsidiary of Adani Enterprises Ltd. (AEL), is building a brand-new copper refinery project to produce refined copper at a rate of 1 million tonnes annually over two phases.
Adani Group, a ports-to-energy conglomerate, entered the copper manufacturing industry by securing financing from public sector lenders for a 1 million tonnes per year operation at Mundra in Gujarat.

According to a statement from the firm, Kutch Copper Ltd. (KCL), a subsidiary of Adani Enterprises Ltd. (AEL), is building a brand-new copper refinery project to produce refined copper at a rate of 1 million tonnes annually over two phases.

Through a coordinated club loan for the greenfield copper refinery project in Mundra, Gujarat, KCL has attained financial closure for the phase-1 capacity of 0.5 million tonnes. It has carried out "Agreements for financing with the group of banks led by State Bank of India (SBI). The other members in the consortium include Bank of Maharashtra, Canara Bank, EXIM Bank of India, Indian Bank, and Punjab National Bank "The statement read.

For the whole debt demand of Rs6,071 crore for Phase 1 of the KCL Project, the syndicate of banks has agreed and signed an agreement. The project, according to Vinay Prakash, Director of Adani Enterprises Ltd., has the necessary technologies in place, and construction work at the site is moving along nicely. Production is expected to start in the first half of CY 2024.

The lenders' legal assistance was provided by Desai & Diwanji Advocates, while their financial advisor was SBI Capital Markets Ltd. KCL sought legal advice from Saraf and Partners Law Offices. KCL was founded on March 24, 2021, with the intention of engaging in copper-related operations like the production of copper cathodes, copper rods, and related goods.

The Adani Group's incubator is called Adani Enterprises Limited (AEL). The following companies were incubated under AEL: Adani Transmission Limited, Adani Power Limited, Adani Green Energy Limited, Adani Total Gas Limited, and Adani Wilmar Limited.

Related Tags

  • Adani Copper PSUs
sidebar mobile


4 Mar 2024   |   06:49 AM
19 Feb 2024   |   09:29 AM
Read More

Most Read News

4 Mar 2024   |   09:10 AM
4 Mar 2024   |   08:43 AM
4 Mar 2024   |   08:40 AM
3 Mar 2024   |   12:26 PM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.