Lanco Infra in discussions with lenders to sell assets

Lanco Infratech Ltd today said it is in discussions with lenders and consultants to sell some of its operating assets.

"Further to the implementation of the CDR scheme and other fund raising proposals approved by the lenders in the past, the company is in discussions with lenders and consultants to sell/securitise some of the operating assets and also bring strategic investor at power holco level and/or at SPV level for the power portfolio/part of the power portfolio," Lanco said in a filing to BSE.

The filing was in response to clarification sought by the bourses on a news item which said that OPG Power Ventures may buy out Lanco's Amarkantak, Vidarbha and Babandha Assets.
 

The news item said that lenders are set to take control of cash strapped Lanco Infratech. Forum to allow OPG Power to buy 51 per cent in demerged power biz: EY estimates Rs 5,300 crore valuation.

The company further said: "We have been holding meetings with the lenders with various proposals. In this month we have two such meetings... We will inform the stock exchange once the proposal is approved by the lead lender.