Unity Infra to raise Rs 150 cr to reduce debt; stock up

MUMBAI: Unity Infraprojects plans to raise overseas loans and part sell stake in one of its projects to raise funds to refinance debt and hopes to reduce the interest rate by 300-350 bps. The company plans to raise extra commercial borrowings of Rs 100-150 crore in the current fiscal to refinance debt.

The stock was at Rs 68.80, up 2 per cent on the BSE. It touched a high of Rs 70 and low of Rs 68.15 in trade so far.