Sesa Goa seeks shareholders nod for Rs 6,000 cr fund raising
Press Trust of India / Mumbai Oct 05, 2009, 17:39 IST
Domestic mining firm Sesa Goa today said it will seek shareholders approval for raising up to Rs 6,000 crore by issuing securities in the domestic as well as overseas markets.
The company, in a filing to the Bombay Stock Exchange, said its shareholders at a general meeting to be held on October 20 would consider the raising of the said fund through the issue of Foreign Currency Convertible Bonds (FCCBs), qualified institutional placements (QIP), global depository receipts (GDRs), warrants or any other securities.
Sesa Goa board had last month approved the raising of the fund which would be deployed to meet capital expenditures and to finance acquisitions.
The board had also approved a capital expenditure plan of Rs 605 crore ($125 million) for increasing the capacity of its Pig Iron plant along with expansion of Met Coke plant and setting up a Waste Heat Recovery Power Plant.
Shares of Sesa Goa closed at Rs 267.15, down 0.07 per cent over previous close on the BSE.
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