Binani Cement to raise $125mn

The board of directors of Binani Cement, which met today, approved a proposal to raise $125 million via FCCBs/ADRs/GDRs.

According to a release issued to the BSE today, the meeting also approved a proposal to increase the borrowing limit from Rs 1,000 crore to Rs 2,000 crore.

An EGM of shareholders will be held on February 15 to approve the proposals, the release added.