Ansal Housing to raise US $ 50 million

Ansal Housing & Construction Ltd has announced that that Board of Directors of the Company at its meeting held on August 26, 2006 has approved raising of funds upto US $ 50 million by way of issue of Foreign Currency Convertible Bonds (FCCB) and / or American Depository Receipts (ADRs) and / or Global Depository Receipts (GDRs) on Rights Basis / Public Issue basis / Private Placement basis by way of Preferential Allotment and / or any other basis by way of issue of equity shares / preference shares / debentures / bonds / warrants / securities / partly convertible into equity by way of any of the aforesaid routes or combination thereof as may be approved by the shareholders and on the basis of the advice of the Merchant Bankers and subject to the approval of the appropriate authorities for expansion of its Real Estate Business.

Source : Equity Bulls

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