Indiabulls to raise $60 M
Facebook Twitter google+ RSS Feed

Indiabulls to raise $60 M

By agencies   |   Wednesday, 23 February 2005, 08:00 Hrs
Printer Print Email Email
MUMBAI:Indiabulls Financial Services Ltd will raise $60 million through Global Depository Receipts from the international capital market to fund its working capital requirements.

The GDR will consist of a main green shoe component of up to $45 million and over allotment option of up to $15 million, the company informed the National Stock Exchange (NSE) today.

The additional working capital will be used to conduct business, expand the same and undertake new initiatives, which are expected to contribute to the growth of the company.

It expects to sustain its current business growth rate of over 100 per cent and is projecting a consolidated net profit of Rs 52.5 crore for FY 2004-05.

Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset