Suryachakra to raise $100mn via FCCBs

Suryachakra Power Corporation is planning to raise $100 million via FCCBs / GDRs/ ADRs/ private placement of equity to fund its proposed joint venture projects and acquisitions.

The company, in a release issued to the BSE today, said the board has approved the proposed fund raising programme at a meeting on Thursday.

The board also approved to utilise the balance amount of Rs 10 crore from the power trading business for other projects.