Lanco Infratech, a part of Hyderabad-based Lanco Group, is in the process of raising up to Rs 2,500 crore to part-fund its expansion plans and for some ongoing projects.

Reports suggest that, the most of the funds will be utilized to meet the expansion plans of the power projects under various stages of execution.

It should be noted that, the board of directors of the company have already approved raising of Rs 2500 crore through American depository receipts (ADRs), global depository receipts (GDR) and foreign currency convertible bonds (FCCB).
However, the company will shortly seek the shareholders' nod in its extraordinary general meeting, which is scheduled on June 25.
A company official, who did not want to be identified, has informed that the entire process could take about 45 days to raise funds.

Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Lanco Infratech to achieve a target between Rs 430-480 in the coming days.

He further stated that, interested traders can buy the stock on dips with a strict stop loss of Rs 393.

The scrip closed on Friday at Rs 386, down 7% against its previous close of Rs 417.