Austral board meets on Sept 3; to mull raising $200mn

Metallurgical coke maker Austral Coke today said its board will meet on September 3 to consider raising $200 million (nearly Rs 970.22 crore) by private placement of shares with qualified institutional buyers.

The board would also consider bonus issue and to increase the authorised share capital of the company, Austral Coke said in a filing to the Bombay Stock Exchange(BSE).     

Shares of Austral Coke were trading at Rs 56.20 on the BSE, up 9.55 per cent from previous close.