Financial Daily from THE HINDU group of publications
Wednesday, Apr 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 21, 2004 |
||
|
|
||
|
Corporate
-
Overseas Borrowings Reliance Energy to raise securities in global markets Our Bureau
Mumbai , April 20 RELIANCE Energy Ltd has decided to raise funds in the international markets. REL on Tuesday informed the Bombay Stock Exchange that its board of directors has, on April 18, approved issue of securities in the international markets. Mr Anil Ambani, Chairman and Managing Director, REL, had told reporters on April 16 that the company "may approach international markets with a GDR or ADR issue for raising capital to fund its expansion plans." The securities raised will not increase the company's issued and subscribed equity share capital by more than one million equity shares of the face value of Rs 10 each. The company would be seeking the approval of the shareholders for the issue of the securities through postal ballot. The securities will be raised on terms that the board thinks fit and after consulting lead managers, underwriters, advisors or other intermediaries, the company said. Reliance Energy's proposed 3,740 MW gas-based plant at Dadri in Uttar Pradesh is expected to cost Rs 11,000 crore. The company also plans to set up wind energy plants of 500 MW apart from investing Rs 3,500 crore in modernising the company's Delhi power distribution system.
More Stories on : Overseas Borrowings | Power
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|