Baba Kalyani led by the BF utilities has started to work towards raising Rupees 500 crore
BF Utilities, the company which is currently executing a large sum of money in the Bangalore-Mysore expressway project is led by Baba Kalyani and recently he has decided to raise a sum of 500 crore through the route of equity. The sum will be raised for the purpose of completing the construction of the first phase of the expressway. Not just that, there are hopes that the new resources will be deployed so that the establishment of township can begin with.
The promoters of BF Utilities led by Baba Kalyani who is holding over 65% also has a subsidiary known as Nandi Infrastructure Corridor Enterprise and which has also helped in floating the SPV – Nandi Economic Corridor Enterprise (NECE) so that the first phase of the project has been well executed.
The expressway which had earlier faced several disputes has become an important cause of negotiations between the management and Deve Gowda himself who is the current chief minister of Karnataka. He had been protesting the project in its totality over the allegations of grabbing of land.
Source – Raghuvir Badrinath
Baba Kalyani, Bangalore Mysore Infrastructure Corridor Area Planning Authority, BF Utilities, Nandi Infrastructure Corridor Enterprise, Nandi Infrastructure Corridor Enterprise Limited (NICE)
