LHC shareholders approve raising funds from foreign, local mkt

New Delhi, Jul 8 (UNI) Lok Housing and Constructions Ltd (LHC) today said its shareholders have approved the raising of funds from local as well as foreign markets.

In yesterday's Extra Ordinary General Meeting meeting, the shareholders gave green signal to raising 200 millions dollars from foreign market through Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs)/Other Financial Instruments (OFIs) /Foreign Currency Convertible Bonds (FCCBs), company said in a statement.

The shareholders also gave nod to raising Rs 840 crores from local market under Qualified Institutional Placement (QIP) mode, it added.

UNI MP PDT RAI1213