Country Club India today said it is planning to raise up to $125 million (over Rs 550 crore) through the issue of securities in domestic or global markets.
The company's board has given its approval for the issue of equity shares or convertible instruments worth $125 millions through qualified institutional placement route, the leisure and entertainment conglomerate said in a filing to the Bombay Stock Exchange (BSE).
According to the company, other options for raising the fund include issue of foreign currency convertible bonds and American/global depository receipts.
The amount of funds to be raised shall be decided by the board from time to time and may be lower than what has been approved, it further said.
The meeting of the company's board of directors was held on April 1.
During the meeting, the board also approved the issue of three crore warrants, convertible into equity shares, to its promoters or their associates at a price of Rs 25 per piece, Country Club India added.
Shares of Country Club India jumped over 7 per cent and were quoting at Rs 20.60 in late afternoon trade on the BSE.
