Ansal Housing to raise upto Rs 233 cr

Mumbai: Ansal Housing and Construction Ltd said on Monday that it will raise up to Rs 232.75 crore ($ 50 million) through the issue of Foreign Currency Convertible Bonds (FCCB), Global Depository Receipts (GDRs) or any other securities in the domestic as well as international markets.

The board of directors, at its meeting held recently, approved to raise the amount through the issue of various securities on rights, private placement or preferential allotment basis, Ansal Housing informed the Bombay Stock Exchange.

Raising of funds for expansion of its real estate business would be subject to the approval of appropriate authorities, it added.

Shares of the company were trading at Rs 226.60, up 1.61 per cent at the BSE.