Steel maker Prakash Industries said that its shareholders have approved to raise INR 500 crore by various fund raising routes from domestic and international markets.
Prakash Industries in a filing to the BSE said that the company would raise the fund from domestic market by private placement of shares with Qualified Institutional Buyers and from international market through an issue of Global Depository Receipts, American Depository Receipts and Foreign Currency Convertible Bonds.
The filling added that the shareholders have also approved raising of FIIs limit to 35%.
(Sourced from www.steelguru.com)
Thursday, August 27, 2009
Prakash Industries to raise up to INR 500 crore
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