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Hyderabad Feb. 26 Nagarjuna Construction Company Ltd (NCCL) plans to raise funds to the extent of $180 million by issue of equity shares to Qualified Institutional Buyers and/or by issue of GDRs/FCCBs/other permitted Securities. The company has informed BSE that the shareholders at the EGM held here on Monday have given their nod for the move.

The EGM also approved the issue and allotment of warrants on preferential basis to M/s A V S R Holdings Pvt Ltd, an investment company belonging to the promoters of the company at Rs 217 per warrant.

In other developments the shareholders gave their okay for an increase in investment limit by FIIs in the shares of the company from 49 per cent to74 per cent and enhancement of authorised capital of the company from Rs 50 crore to Rs 60 crore.

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