The Hindu Business Line : Marg Constructions to raise $30 m

CHENNAI: The Chennai-based Marg Constructions Ltd, which has signed a concession agreement with the Government of Pondicherry for the development of the port at Karaikal, plans to raise $30 million through foreign currency convertible bonds and global depository receipts.

The company also plans to increase its authorised capital to Rs 50 crore from Rs 20 crore. Mr G.R.K. Reddy, Managing Director, Marg Constructions, said the company was thinking in terms of a strategic investor.

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