Our Bureau

Chennai, May 3

Srinivasa Shipping & Property Development Ltd is raising additional capital with the issue of foreign currency convertible bonds (FCCBs) to the tune of about $20 million.

Mr Prakash Challa, Managing Director, Srinivasa Shipping, said the company plans to set up two special purpose vehicles (SPVs) to develop residential projects in Hyderabad and Chennai.

In the first phase of investment, the company will receive $10 million, he said.

(This article was published in the Business Line print edition dated May 4, 2006)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.