Debt

Debt Financing

MEIL to raise Rs.20,000-Cr debt to fund acquisition of PSUs

Mint  

Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) plans to borrow up to INR 20,000 crore to finance its planned acquisition of various public sector undertakings (PSUs. MEIL has technically qualified for the companies it had bid for, which include Neelanchal lspat Nigam Ltd (NINL), BEML Ltd (previously Bharat Earth Movers Ltd) and Shipping Corp. of India Ltd (SCI). MEIL has operations across major verticals including irrigation, drinking water, power, hydrocarbons and transportation. The company also plans to go public in the next two years.