Bilt To Raise $30mn Thru GDR Issue
Also plans private placement of foreign currency bonds
India`s largest paper company Ballarpur Industries Ltd. (Bilt) has announced a GDR issue public issue to raise $30mn.
Besides the GDR issue, the company also announced plans for private placement of foreign currency convertible bonds, aggregating up to $45mn. The funds from the issue would be utilized for normal capital expenditure, modernization, captive farm forestry, general corporate purposes and working capital requirement.
