L&T to complete Hyderabad Metro stake sale by December
after close1 source ↓written by the desknot a recommendation
- stake
- ₹1,461.47 cr
- to finalize
- 31 Dec 2023
- was made
- 29 Apr 2023
- remains a challenge
- ₹13,600 cr
L&T announced that the sale of its ₹1,461.47 cr stake in the Hyderabad Metro Rail Phase-I project is expected to finalize by 31 Dec 2023. The process faced delays due to structural and regulatory challenges, pushing the deadline from June to September and now to December. The Telangana government is working with SBI Caps to secure financing for the project.
• Initial agreement was made on 29 Apr 2023
• Loan mobilization of ₹13,600 cr remains a challenge
• Chief Minister urged faster action from the Centre.
Not investment advice. For informational purposes only.