Indian Hotels to borrow Rs 4,000 cr

New Delhi, Sep 4 (UNI) Indian Hotels Company Ltd today said it had sought shareholders approval to borrow up to Rs 4,000 crore.

The borrowing will be through credit securities instruments, including bonds, commercial papers or syndicated loans and will be either in rupees or foreign currencies, company said in communique to BSE.

Earlier, the company said it was planning to raise up to Rs 1,924 crore through a rights issue of shares and convertible debentures to fund its growth plans, including possible acquisitions.

UNI