Shiv Vani Oil to raise Rs 600 cr through various routes
Press Trust of India / Mumbai Jun 11, 2009, 14:49 IST
Shiv Vani Oil & Gas Exploration Services today said it will raise Rs 600 crore through various domestic and international fund raising routes.
The board of directors of the company at its meeting has approved the raising of Rs 600 crore through Global Depositary Receipt, American Depository Receipt and Foreign Currency Convertible Bond, Shiv Vani Oil & Gas Exploration Services said in a filing to the Bombay Stock Exchange.
From the domestic market, the company would raise money through preferential issue of shares and qualified institutional placement, the filing added.
The board of directors and shareholders of the company will meet on July 10 for obtaining shareholders' approval in respect to the aforesaid issue of securities.
Shares of Shiv Vani Oil & Gas Exploration Services were trading at Rs 314.65, up 1.40 per cent on the BSE.
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