ICICI Bank had finalised a Rs 50-crore equity-cum-debt deal with the GP Goenka Group-promoted Andhra Cements.
ICICI Bank has picked up 6% in Andhra Cement for a consideration of Rs.10 crore while the bank will provide another Rs 40 crore as debt to the company. The promoters, the Goenka Group, will infuse another Rs 30 crore into the firm, taking the promoters equity stake to a new high of around 90%.
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| Posted : 6/20/2006 |
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