Exim News Service reported that ABG Shipyard Ltd, India’s largest private sector shipyard, plans to raise INR 1,000 crore to fund its expansion and working capital needs.

In a recent report to shareholders, the company said it would raise the money in one or more tranches through a public issue, a private placement or QIP.

The report said that "Taking into account the performance and positive outlook of the company, the company proposes to raise long term capital by issue of further securities to cater to its fund requirements for expansion of activities, finance, additional working capital and general corporate purpose.”

Source - Exim News Service

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