UK-based 3i Group had invested Rs800 crore in Krishnapatnam Port Co. Ltd for around 10% stake in 2009. Photo: BloombergMumbai: Promoters of Krishnapatnam Port Co. Ltd (KPCL)have approached potential investors to raise up to Rs1,500 crore in structured debt to buy out the stake held by private equity fund 3i Group Plc, two people aware of the development said. “PEL is an existing investor in Navayuga group of companies, also part of CVR group founded by its chairman C.V. Rao in 1986. Krishnapatnam Port is one of India’s largest private sector ports. A 12,000 acre Special Economic Zone (SEZ) is also being set up in the vicinity of the port which is being developed by Krishnapatnam Infra-Tech Pvt.

Source: Mint March 15, 2017 20:48 UTC