The company has acquired turnkey contracts for the development of more than 365 kilometers of 765kV double-circuit transmission lines.
The valuation of the company was estimated to be up to $3 billion.
Banking stocks may remain under selling pressure this week.
The 3 entities that will be merged in it are L&T Finance Limited, L&T Infra Credit Limited, and L&T Mutual Fund Trustee Limited.
The portfolio consisted of total loan amount of Rs 341 crore.
Capex cycle recovery in India could be delayed, considering its linkage to global capex cycle and the subdued near-term global growth outlook. Hence, analysts at IIFL Capital Services assume a moderation in rating revenue growth in FY24 versus FY23, with ICRA and CARE reversing some of their under-performance versus CRISIL, between FY19-22.
He will replace Alok Agarwal on 1st June.
Analysts at IIFL Capital Services visited HG Infra’s Ganga Expressway project site, where execution has been strong and payments from UEPIDA and Adani on track. The company has seen order wins of ~Rs37 billion in Q4 from Highways, Railways and Metros with disciplined bidding.
The IPO comprises fresh issue of equity shares worth Rs 320 crore and an offer for sale of Rs 545 crore of promoters and existing shareholders.
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