Havells to raise funds in overseas markets

New Delhi, Jan 28 (UNI) Electrical equipment supplier Havells India Ltd will raise money through issue of equity linked instruments in the overseas market and plans to raise its borrowing limit to Rs 2,500 crore.

The members of the company have accorded their approval to the issue of Foreign Currency Convertible Bonds (FCCBs), Qualified Institutional Placement (QIP), American Deposit Receipts (ADR) and Global Depository Receipts (GDR) and enhancement of the borrowing limit.

Besides, a proposal to increase the authorised share capital of Havells to Rs 40 crore was also approved by the members, an official note said.

UNI