This Article is From Nov 10, 2014

India Cements Board to Consider Raising Rs 500 Crore

India Cements Board to Consider Raising Rs 500 Crore

Chennai: Cement manufacturer India Cements said on Monday that its board will consider a proposal to raise Rs 500 crore from investors.

"The Board of Directors at its meeting will, consider the following issue of QIP, FCCB, GDR and/or other securities for a total sum not succeeding Rs 500 crore ($80 million)", India Cements said in a filing to the BSE.

The board would also consider delisting of its shares from Madras Stock Exchange Ltd, it said.

Shares in India Cements, on Monday, ended at Rs 108.60 apiece on the BSE, down 6.1 per cent from the previous close.