BSEL Infrastructure to raise $120 million

BSEL Infrastructure Realty Ltd has announced that the Board of Directors of the Company at its meeting held on May 03, 2010, subject to requisite approvals, has decided to raise the funds not exceeding USD 120 Millions by way of QIP/GDR/ADR/FCCB and / or other securities linked to equity / preference shares and / or any instrument or securities representing convertible securities such as NCD / PCD / Bonds / Warrants, from time to time, subject to shareholders' approval.

The funds will be utilised towards expansion of operations and execution of projects of the Company.

The stock was trading at Rs.13.18, down by Rs.0.26 or 1.93%. The stock hit an intraday high of Rs.13.73 and low of Rs.12.85.

The total traded quantity was 1144129 compared to 2 week average of 587718.

Source : Equity Bulls

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