Nava Bharat Ventures zooms 20% as arm achieves financial clo



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Inscription: Jeu 30 Juil 2009 19:54

Message Mer 29 Juil 2015 11:25

Nava Bharat Ventures zooms 20% as arm achieves financial clo

Shares of Nava Bharat Ventures has locked in upper circuit of 20% at Rs 169 on the BSE after the company announced that its step-down subsidiary Maamba Collieries (MCL) has achieved financial closure of its integrated coal & power project of an estimated cost of USD 828 million (approx. Rs 5,300 crore).

Large international lenders group, comprising Development Financial Institutions from South Africa and large international commercial banks from Africa and China, have participated in this limited recourse project finance deal, Nava Bharat Ventures said in a press release.

It is the first project in Africa to have obtained insurance cover from China Export & Credit Insurance Corporation (SINOSURE), it added.

This project is being funded on a debt equity ratio of 70:30.

Nava Bharat (Singapore) holding about 65% and ZCCM-IH holding 35% of stakes in MCL, fully discharged their respective equity commitments to the project.

The company said, the project has already achieved 80% of progress in all facets of implementation and is scheduled for commissioning by mid 2016.

Till 12:45 PM, a combined 219,739 shares changed hands and there were pending buy orders for 159,656 shares on the BSE and NSE.


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Inscription: Jeu 14 Mai 2009 16:23

Message Mer 29 Juil 2015 13:13

Know why Nava Bharat Ventures is doing well in the markets t

Know why Nava Bharat Ventures is doing well in the markets today

Shares of Nava Bharat Ventures Ltd., a power producer, soared limit up 20 percent after an overseas unit achieved financial closure, signalling incoming revenues.

Nava Bharat said in a statement its step down subsidiary, Maamba Collieries Ltd., in Zambia had achieved financial closure to the tune of 828 million dollars. The 300 MW coal fired power project is funded in the ratio of 7:3 for Debt to equity. It will commence operations in mid-2016.

Nava Bharat Ventures rose 28.25 rupees, or 20 percent, to 169.25 rupees on the National Stock Exchange, where 1.78 lakh shares were traded in the three hours of trade compared with a 5-day average of just 5,800 shares.

The market capitalisation of Nava Bharat has slumped 29 percent to 1,512 crore rupees in the past one year as investors preferred to stay away from commoditized companies in the power sector.
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU

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