Ispat Industries today said its board has approved its plans to raise Rs 500 crore by selling shares to investors.
The company is mulling different options such as depository receipts, convertible bonds and warrants carring right to subscribe to equity shares and convertible into equity shares in the company , including share sale sale to qualified institutional buyers on a preferential basis.
The company's board has decided to convene an extra-ordinary general meeting of the shareholders on November 21 to consider the proposed issue of shares, it said.
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