Gujarat NRE Coke today said it will raise $60 million (nearly Rs 300 crore) by way of bonds and will issue 2.50 crore warrants to promoters.
The board has approved to raise $60 million by issue of foreign currency convertible bonds (FCCB), Gujarat NRE said in a filing to the Bombay Stock Exchange (BSE).
Further, the board has also approved to issue 2.50 crore convertible warrants to promoters, the filing added.
The proposal is subject to shareholders approval, the filing added.
Shares of Gujarat NRE settled at Rs 67.85 on BSE, up 7.19 per cent from previous close.