Essar Oil seeks shareholders nod to raise $1.7 bn - Economic Times

MUMBAI: Essar Oil said it will seek shareholders’ nod to raise $1.7 billion (about Rs 7,700 crore) through the issue of securities in the international markets to finance its various expansion plans.

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The board has decided to seek approval of shareholders again to raise an amount up to the balance amount of $1,700 million, Essar Oil said in a filing to BSE. The amount is the part of the company’s fund-raising plan of $2 billion, which was approved by its shareholders in December 2007.

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Essar Oil said it will seek shareholders’ nod to raise $1.7 billion (about Rs 7,700 crore) through the issue of securities in the international markets to finance its various expansion plans.

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Full Story: Essar Oil seeks shareholders nod to raise $1.7 bn - Economic Times