Firm arrangements of finance "through verifiable means" towards 75% of stated menas of finance, excluding the amount to be raised through proposed IPO or indentificable internal accurals
Total Cost of Project : Rs. 2300 crores
Less: Proposed IPO : Rs. 2000 crores
Funds required excluding the net proceeds of the IPO: Rs.300 crores
Required firm arrangements for over 75% of the funds required excluding the IPO : Rs. 225 crores (i.e. 75% of Rs. 300 crores)
Rs. 225 crores should be finance through verrifiable means of finance for exp. bank or company should have internal accruals to the extent of this amount. Generally for internal accurals companies provided a CA certficate that they have the sufficent cash and bank balance in hand.
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