IFSL to raise $100mn via ADRs/GDRs

IFSL, a non-banking finance company,  is planning to raise $100 million through the issue of American Depository Receipts (ADRs), Global Depository Receipts (GDRs) or any other form of convertible securities. This was stated by the company in a release issued to the BSE today.

The board has also given approval for issue of 80 lakh equity shares on private placement basis, the release added.