Bilt rises on fund raising news, but falls later

Dalal Street Spikes

 The counter advanced in early morning trades after the company announced that it has raised $80 million (around Rs 370 crore) from the international market.

 The company has raised overseas funds via a $35-million global depository shares (GDS) issue and a placement of foreign currency convertible bonds (FCCBs) for $45 million.

 IFC, Washington, is recently said to have sanctioned a $15 million loan to Bilt. The IFC loan is expected to be used to part-finance Bilt