EPL to raise Rs 5 bn via bonds

Ennore Port (EPL) plans to raise only Rs 500 crore through tax-free bonds instead of the earlier plan of mopping up Rs 1,000 crore.

This information was given by MA Bhaskarachar, Chairman and Managing Director of the country’s first corporate port set up by the Government of India.

The port originally planned to raise Rs 1,000 crore through tax-free bond.

The port is awaiting government notification and it hopes that it would get the same in next two to three months.

The port would use the amount raised through bond issue to acquire 700 acre land from the salt department adjacent to the port for future expansions and other activities.