Nagarjuna Construction to go in for GDR issue of US$120mn
By Our Corporate Bureau | 09 Sep 2004
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Hyderabad: Nagarjuna Construction Company Ltd (NCCL) has decided to raise funds to the tune of US$120mn through the issue of `global depository receipts (GDRs) and or foreign currency convertible bonds (FCCBs)' or a combination thereof.
The company informed the BSE that the board of directors meeting held on Thursday has accorded in principle approval.
The funds would be used for investing in the BOT and BOOT projects that have been awarded/likely to be awarded to the company/the joint ventures with which the company is associated.
NCCL is also planning to use the money to meet the increased working capital requirements and the long-term fund requirement of the company.
The company informed the BSE that the board of directors meeting held on Thursday has accorded in principle approval.
The funds would be used for investing in the BOT and BOOT projects that have been awarded/likely to be awarded to the company/the joint ventures with which the company is associated.
NCCL is also planning to use the money to meet the increased working capital requirements and the long-term fund requirement of the company.
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