BSES plans to float ADR issue

MUMBAI, JUNE 15: The board of directors of energy firm BSES Ltd will be meeting on Wednesday to consider issue of equity shares in the form American Depository Receipts ADRs or Global Depository Receipts GDRs.

In a notice to the Bombay Stock Exchange, the company has not specified the size or the date of the issue. This would be the second international offering from BSES which is supplying power to the metropolis.

The announcement by BSES was made after the BSE closed for trading. BSES, however, closed at Rs 150.30 as compared to yesterday8217;s close of Rs 151.50. BSES has paid-up capital of Rs 188 crore, while the authorised capital stands at Rs 350 crore. The capital expenditure plans of the company approved by its board earlier would entail investments of over Rs 2,000 crore over the next couple of years.