Rolta India to raise $250 million

Rolta India Ltd has announced that the Board of Directors of the Company at its meeting held on October 22, 2009, inter alia, approved, subject to approval of shareholders' at the AGM under Section 81(1A) of the Companies Act, 1956, to raise funds upto US $ 250 Million or its Indian Rupee Equivalent from domestic or International market, through instruments like ADRs / GDRs / FCCBs / QIPs / Warrants or Private Placements of any other form of securities convertible into equity shares.

The stock was trading at Rs.187.15, down by Rs.5.35 or 2.78%. The stock hit an intraday high of Rs.196.50 and low of Rs.185.10.

The total traded quantity was 1749383 compared to 2 week average of 876885.

Source : Equity Bulls

Keywords