Krishna Bhagya Jala Nigam saves Rs 35 crore in interest
By resulted in overall savi | 07 Apr 2003
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New Delhi: Krishna Bhagya Jala Nigam Ltd is engaged in the speedy execution of the prestigious Upper Krishna Project of Karnataka. The Nigam is implementing the Upper Krishna Project partly by funds borrowed from the market.
As part of its overall strategy to reduce the cost of borrowings, the Nigam has taken advantage of the reduced interest rate and Rs 445.54 crore of its high cost debts during the year 2002-03. This resulted in overall savings of Rs 35.00 crore in interest by exercising early call option on Bond Series VIA, VIB and Intercorporate Deposits during the last week of March 2003.
