ERL raises $ 50 mln through GDRs, FCCBs; to focus on global expansi

New Delhi, Dec 7 (UNI) Easun Reyrolle Ltd (ERL) today said it has raised 50 million dollars through GDRs and FCCBs.

''The company has allotted GDRs for 15 million dollars at Rs 315 per share and 35 million dollars by way of FCCBs at a price of Rs 400 per share,'' a comapny statement said.

The funds raised will be deployed to expand the global reach and business of the company through acquisitions and various other measures, it added.

ERL works in the field of power management solutions in the country, covering the business verticals of power system protection (products and systems), automation solutions (substation automation and network automation), energy meters and metering solutions, medium voltage switch gear and complete turnkey projects.

It has witnessed a CAGR of more than 50 per cent per year over the last four years.

The company recently completed the acquisition of a Canadian company, ERLPhase Power Technologies Ltd and is now in the process of expanding its global reach and business.

UNI