ITD Cementation India Ltd to raise Rs 310 crore

New Delhi, Jan 3: ITD Cementation India Ltd, engaged in construction business, today said it will raise Rs 310 crore through Qualified Institutional Buyers (QIBs) route and preference shares issue.

The Board of Directors of the company have accorded their approval to raising Rs 250 crore through issue of equity shares to QIBs, besides approving issue of redeemable preference shares (cumulative or non cumulative) up to Rs 60 crore.

These shares will not be listed on any exchange.

The board has also decided to increase the company's authorised share capital from Rs 11 crore to Rs 75 crore.

The shareholders of the firm will meet on February 13, 2007 to consider the schemes.

UNI