Lanco Infratech Limited has stated that financial closure has been achieved for the 76 Mw Phatabyung Hydroelectric Project being developed in Uttarakhand by Lanco Hydro Energies Private Limited, a subsidiary of the Hyderabad-based company.
The power project, estimated to cost Rs 520 crore, would be financed with a debt of Rs 416 crore and an equity of Rs 104 crore.
A consortium of five banks with Axis Bank in the lead are providing the debt required for the project.
The company's scrip was trading on BSE at Rs 438.05, up 5.43 per cent over the previous trading day's close of Rs 415.50.
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