Financial Daily from THE HINDU group of publications
Sunday, Feb 06, 2005
Financial Daily from THE HINDU group of publications Sunday, Feb 06, 2005 |
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Corporate
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Overseas Borrowings Punj Lloyd raises $50 m through pvt consortium Our Bureau
New Delhi , Feb. 5 ENGINEERING construction company Punj Lloyd has announced that it had raised $50 million through a private consortium, led by Standard Chartered Pvt Equity. The consortium includes Temasek Holdings, Merlion India Fund, New York Life and Jacob Ballas. The company, in a statement, also said it had inducted Mr Manish Kejriwal, Managing Director of Temasek Holdings Advisors India Pvt Ltd, and Mr Karamjit Butalia, Global Head of Standard Chartered Pvt Equity and Managing Director of Merlion India Fund, into its board. "We already have a strong presence in West Asia , South East and Central Asia. The partnership with this consortium of highly respected global investors will further help us to strengthen our international presence and expand operations in untapped markets," said the Chairman and Managing Director, Mr Atul Punj. The company hopes to consolidate its position through its enhanced financial capabilities and is looking at undertaking large-scale infrastructure projects.
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