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Article: Patel Engg to raise $ 125 mn for expansion plans.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- December 27, 2005
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Patel Engg to raise $ 125 mn for expansion plans
Mumbai, Dec 27 (PTI) Patel Engineering Ltd today decided to raise long term funds upto 125 million US dollars either by borrowing or issuance of foreign currency convertible bonds for expansion plans.
The board of directors took a decision in this regard at its meeting, the civil engineering company in infrastructure segment informed the stock exchanges.
The board in principle approved raising the funds up either by borrowing / FCCB or issuance of shares, it said.
The funds would be raised on terms and conditions to be decided by the board / committee in due course, it said.
The ...