Dempo Group, one of the biggest players in iron ore in India, is planning to raise around Rs 1,500 crore for expanding its petroleum coke business. The company plans to divest stake in flagship mining company — VS Dempo — to support its expansion plans.
The Rs 2,000-crore group is believed to be in talks with three PE firms and the deal would be sealed by the end of the month, sources close to the development said. The company plans to invest funds in its Goa Carbon petroleum coke business. According to sources, the group is looking at setting up a plant in Gujarat near Vadodara with additional funds.
Courtesy: ET
