Ess Dee Aluminium to raise Rs 500 cr through securities

Packaging solutions provider Ess Dee Aluminium today said its board has approved raising up to Rs 500 crore through issue of securities. The board of directors, during a meeting held on October 16, approved raising of funds up to Rs 500 crore in one or more tranches, Ess Dee Aluminium said in a filing to the Bombay Stock Exchange. The various securities through which fund may be raised include global depository receipts, American depository receipts, foreign currency convertible bonds and qualified institutional placement. The company has convened an extraordinary general meeting on November 10 for obtaining approval from its shareholders, Ess Dee Aluminium said. Shares of Ess Dee Aluminium were trading at Rs 380 on BSE, a gain of 3.49 per cent over the previous close.