IndusInd Bank has invested Rs 50 crore in Lavasa Corporation Ltd (Lavasa), a subsidiary of the HCC (Hindustan Construction Company Ltd) in the form of convertible debentures, HCC said in a BSE filing on Friday.
Based on the above investment, the equity valuation of Lavasa gets reconfirmed at Rs 10,000 crore. (Axis Bank Ltd, Bank of India, Allahabad Bank and Bennett Coleman & Co. Ltd had also invested Rs 250 crore, Rs 150 crore, Rs 50 crore and Rs 81.25 crore respectively) at the same valuation.
Details awaited
