Hyderabad-based Sanghi Industries will raise Rs 1,500 crore from various investors. According to an official statement today, the amount will be raised via issue of equity shares or other instruments like foreign currency convertible bonds (FCCBs), global depository receipts (GDRs), and American depository receipts (ADRs). Beena Engineer, executive director finance of Sanghi Industries, declined to divulge the purpose for this fund-raising exercise stating that it was too premature to discuss it. Textile major Sanghi Group has diversified into newspaper publishing and cement manufacturing and has an assets base of Rs 2,000 crore, according to the official website of the company.
