H S India to raise Rs 100 cr for expansion

New Delhi, Mar 19 (UNI) H S India today said it will raise Rs 100 crore for funding its expansion plans.

The company seeks to raise the funds through debt, equity or a combination of both. The funds will also be utilised towards acquisition and retirement of existing high cost debt.

It also proposes to acquire substantial stake of over 51 per cent in two hotel properties located at Ankleshwar and Varanasi with four star facility.

Besides, it is mulling purchasing of land at Mumbai and Jaipur for setting up of four star hotel projects.

The company's board will meet on March 26 to decide upon the issues.

UNI