Ashok Leyland, the country's second biggest truck and bus manufacturer, will raise $100 million through a foreign float, the company's managing director, R Seshasayee, said here yesterday. | |
| "The company's board will meet on February 28 to consider whether the money will be raised through a FCCB or a GDR issue," Seshasayee said at a press conference here. |
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| He said the money raised will be partly used to service debt as well as to add capacities in its manufacturing units. |
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| He added that tapping the foreign market was more suitable now that foreign loans come cheaper than money raised from the domestic market. |
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