L&T Infrastructure, a subsidiary of L&T Finance Holding, is hoping to tap overseas markets for funds since it has headroom to borrow up to R600 crore through the external commercial borrowing (ECB) route.
?We are trying to raise money in the overseas market, but the external market is tough today. Moreover, there is a sense of risk-aversion and a shortage of funds,? Y M Deosthalee, chairman & managing director, L&T Finance Holding, said on Thursday.
The company raised R400 crore through the ECB route in the last financial year. ?We want to broad-base our borrowing. Currently, we access banks for close to 60% of our borrowing and the rest is done through bonds,? said Deosthalee.
With total loans outstanding of R8,790 crore as at the end of September 2011, and a 20% growth in its loan book so far in 2011-12, the company is actively exploring projects in the roads sector.
However, Deostahlee pointed out that the non-availability of coal and associated distribution problems were posings problems for the power sector.