Sadbhav Infrastructure raises Rs 700 cr via NCDs ANI | Updated: Feb 10, 2021 11:19 IST
Ahmedabad (Gujarat) [India], February 10 (ANI): Sadbhav Infrastructure Project Ltd said on Wednesday it has executed debenture trust deeds with Catalyst Trusteeship Ltd to raise up to Rs 700 crore in various tranches and series on a private placement basis.
The proposed long-term funding is in the form of non-convertible debentures with a tenure of more than four years. The investor consortium was led by Allianz Global Investors and AMP Capital. The investment will infuse sufficient liquidity into the company and provide resilience and necessary financial strength to our balance sheet over the long term, said Managing Director Vasistha C Patel.
Surat: With the municipal elections around the corner, the residents of the central zone of the Surat Municipal Corporation (SMC) have up their ante against the metro rail project being executed by the Gujarat Metro Rail Corporation (GMRC). Many of the residents feel that the metro rail project is just an election stunt and the ruling BJP wants to showcase the project as development during the civic body election scheduled in February.
Prime Minister Narendra Modi had laid the foundation stone for the phase-1 of metro rail project from Kadarshah Ni Naal to the DREAM city in Khajod recently.
According to the official estimate, about 900 properties, majority of them residential units, will be razed for the construction of the metro stations most stations are planned underground, with entrances/exits leading up to ground or street level in Central zone.
Picture used for representational purpose only
SURAT: Prime Minister Narendra Modi on Monday will perform the ground-breaking ceremony virtually for the first phase of the Rs 12,020 crore Surat Metro Rail Project via video-conferencing. Deputy chief minister Nitin Patel, social justice and empowerment minister Ishwar Patel and BJP chief C R Paatil among other dignitaries will remain present at the venue at Diamond Bourses in the city.
According to sources, the metro project is 40.35km long and comprises two corridors. The 21.61-km-long corridor-I is from Sarthana to Dream City, while the 18.74km-long corridor-II is from Bhesan to Saroli. It will consist of 10 elevated stations in South-West Surat and connect Dream City with Kadarsha Ni Nal in the city’s core. East of that, the line will head underground towards Surat Railway Station for 3.46 km and onward to Chowk Bazar at 3.56 km.
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