Havells to raise $150mln

New Delhi, Dec 26 (UNI) Electrical products manufacturing company Havells India Ltd today said it will raise 150 million dollars through Qualified Institutional Placement, Foreign Currency Convertible Bonds (FCCB), American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) issue.

The Board of Directors (BoD) of the company has approved the fund raising besides increasing the borrowing limits and authorised share capital to Rs 2,500 crore and Rs 40 crore respectively.

The BoD also approved to call for an Extra Ordinary General Meeting on January 20, 2007.

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