Farmax Retail (India) today said its board has approved to raise funds up to Rs 500 crore through various routes including issue of foreign currency convertible bonds (FCCBs) and global depository receipts (GDRs).
The fund raising plan also includes follow-on public offers (FPOs) and qualified institutional placements (QIPs).
The board has also approved sub-division of shares in the ratio of 1:2 in the meeting held today, Farmax Retail said in a filing to the Bombay Stock Exchange.
The company would hold an extraordinary general meeting of the shareholders on January 1, 2010 to get approval for the above matters, the filing added.
