Steel strips to raise funds up to Rs 150 cr through securities

New Delhi, Feb 2 (UNI) Steel Strips Wheels Ltd today announced the shareholders of the company has approved to raise funds up to Rs 150 crore by issuing securities.

Besides, the company will also issue equity shares to qualified institutional buyers up to Rs 75 crore in accordance with the chapter XIII-A of SEBI (DIP) guidelines, 2003.

It also announced to increase the limit of FII investment upto 35 per cent of the total paid up capital of the company.

UNI