Mumbai, Nov 24: Indian Hotels Company Ltd (IHCL) is evaluating proposals to raise upto USD 75 million through overseas borrowings as part of its alternative long term funding plans. The board of the company has authorised a committee of directors to examine and evaluate alternative long term fund raising proposals in the nature of a foreign debt instrument, linked, if necessary, to equity/warrants for an amount or upto USD 75 million, the Tata group company informed the Bombay Stock Exchange today.
The amount would be raised subject to necessary approvals as required, it added.
Bureau Report