GHCL to raise $100mn via GDRs/FCCBs

GHCL is planning to raise up to $100 million by issuing global depository receipts (GDRs) or foreign currency convertible bonds (FCCBs).

This was announced in a release issued by the company to the BSE today.

The board meeting, which cleared the overseas float proposal, also approved preferential issue of 45 lakh warrants to promoters wherein one warrant entitles them to one equity share of Rs 10 each at a price to be determined in line with Sebi guidelines, the release added.