Exim Bank LoC to Djibouti

MUMBAI: Export-Import Bank of India (Exim Bank) has extended a Line of Credit (LoC) of $14 million as additional amount to the government of Djibouti for completing a cement plant project in Djibouti. It has earlier extended two LoCs of $10 million each to finance a cement plant project in Djibouti. Exim Bank will reimburse 100 per cent of contract value to the Indian exporter, upfront upon the shipment of goods/provision of services.

SFEL plans to float IPO
mumbai: Sanghvi Forging and Engineering Ltd (SFEL) has filed Draft Red Herring Prospectus with the Sebi to float a public issue of equity shares of Rs 10 each aggregating Rs 42.50 crore on 100 per cent book building basis. It has an installed capacity of 3600 tonnes per annum with a single piece forging up to 4 tonnes in the area of open and closed die forging. It has embarked on a Rs 120-crore expansion plan to set up 15,000 MTPA open die forging unit to manufacture forgings like stepped shafts, bars & hollows, blocks, flanged shafts, gear blanks and forging items. Read More