Ess Dee Aluminium EGM okays raising Rs 500 cr

* Ess Dee Aluminium Ltd, engaged in making aluminium foils for packaging industry, today said it has approved the proposal to raise Rs 500 crore by issuing securities to qualified institutional buyers or others on preferential basis. The shareholders took a decision to this effect at the extra-ordinary general meeting held on Tuesday, Ess Dee Aluminium said in a filing to the Bombay Stock Exchange. The shareholders authorised the Board of Directors to raise the proposed funds from domestic or international market through instruments like depository receipts, foreign currency convertible bonds or private placement of share to institutional investors, it said. Shares of the company closed at Rs 348.40, down 2.55 per cent from the previous close on the BSE. **** Ballarpur Industries redeems Rs 1,000 cr debentures * Paper maker Ballarpur Industries Ltd today said it has redeemed debentures worth Rs 1,000 crore issued by its subsidiary.