Hotel Leelaventure to raise $130 mn via share sale
Press Trust of India / Mumbai Jan 25, 2010, 19:05 IST
Hospitality major Hotel Leelaventure today said it will raise up to $130 million (about Rs 600 crore) from share sale to part finance its expansion plans.
The company's board of directors, at its meeting held, have approved to raise funds up to $130 million through issue of shares by way of private placement or through foreign currency convertible bonds, Hotel Leelaventure said in a filing to the Bombay Stock Exchange.
The company will raise funds so as to reduce debt and also to part finance its expansion plans, the filing added.
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