Moser Baer India to raise USD 100 mn

Optical storage devices manufacturer Moser Baer India said it will raise USD 100 million about Rs 454 crore by various fund raising routes,from national and international markets.

The board of directors of the company at their meeting held on January 11,have decided to raise funds for an amount up to USD 100 million,Moser Baer India said in a filing to the Bombay Stock Exchange.

The company plans to raise the amount by private placement of shares,or by issuing Foreign Currency Convertible Bonds,Global Depository Receipts and American Depository Receipts,the filing added.

The proposal is subject to shareholders approval,it added.

Shares of Moser Baer India were trading at Rs 92.95 on the BSE,up 1.58 per cent from its previous close.