Bhushan Steel to raise Rs 30 crore

The board of directors of Bhushan Steel & Strips will meet on March 19, 2005, to consider a proposal to issue shares or any other instrument on preferential basis to raise Rs 30 crore.

According to a release issued by the company to the BSE today, "the preferential issue will result in issue of equity shares or warrants or other instruments / securities converting into equity shares on a pari-passu basis."