The board of Mumbai-based developer, Lok Housing has approved of raising funds both from the foreign as well as local market by way of various instruments, a statement posted on the Bombay Stock Exchange(BSE) stated today.

The company is looking to issue global depository receipts (GDR), American depository receipts (ADR) and foreign currency convertible bonds (FCCB) to the extent of $200 million to raise adequate capital.

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Stock price of the company on the BSE closed 4.96 per cent lower at Rs 30.65 as compared to its previous close of Rs 32.25.

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