Lanco Infratech, one of the leading integrated infrastructure developers, pre-closed its outstanding term loan with Yes Bank to the extent of Rs 2.05 billion by obtaining lower interest rate term loan from another bank.
The term loan was taken for a couple of solar power projects, which are operating well and the cash flow from the Solar Power projects, are healthy.
Other term loans of Rs 610.4 million from Yes Bank for other solar power projects are continuing.
Shares of the company declined Rs 0.19, or 3.77%, to settle at Rs 4.85. Th total volume of shares traded was 1,206,798 at the BSE (Monday).