Era Constructions to raise $200mn in overseas mkt

New Delhi, Dec 15: Era Constructions India Ltd today said it will raise 200 million dollars by issue of convertible securities in the overseas markets.

The company had received the approval of its members for raising the funds by way of issue of Global Depository Receipts (GDRs), American depository Receipts (ADRs) and Foreign Currency Convertible Bonds (FCCBs).

The members have also approved raising of borrowing limit of the company to Rs 2,000 crore and creation of charge on its assets by way of mortgage and hypothecation for securing loans up to the amount.

UNI