Economic Times reported that packaging solutions provider Ess Dee Aluminium’s board has approved rising up to INR 500 crore through issue of securities.

Ess Dee Aluminium said in a filing to the Bombay Stock Exchange that the board of directors, during a meeting held on October 16th 2009 approved raising of funds up to INR 500 crore in one or more tranches.

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 extra ordinary general meeting on November 10th 2009 for obtaining approval from its shareholders.

(Sourced from Economic Times)