Bhushan Steel gets shareholders' nod to raise $500 mn

Domestic steel producer Bhushan Steel today said it has got shareholders' nod to raise up to $500 million (about Rs 2,300 crore) through the issue of securities.

In a filing to the Bombay Stock Exchange (BSE), the firm said it members have approved the fund-raising proposal through a postal ballet.

The company may raise funds via ADR, GDR, bonds, or any other medium.

Bhushan Steel's shares closed at Rs 1,444.15, up 2.16 per cent on the BSE today.