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Our Bureau

Kolkata, July 7 Ramsarup Lohh Udyog Ltd, a member of the Ramsarup Group, is setting up an integrated steel plant at Kharagpur as part of a backward integration programme initiated by the company.

The estimated investment on the project is put at Rs 689.57 crore.

The company, according to an official statement issued here, proposes to finance the project through total equity of Rs 286.51 crore and debt (term loans) of Rs 403.06 crore.

The company also proposes to enter the capital market with a public issue of 3 crore equity shares of Rs 10 each through 100 per cent book building route to part-meet the projects’ fund requirements.

The Draft Red Herring Prospectus for this purpose has been filed with SEBI.

More Stories on : New Projects | Steel

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