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Moser Baer India aims to raise $100 mn

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CIOL Bureau
New Update

MUMBAI, INDIA: Technology company Moser Baer India, which is into optical storage devices manufacturing today said that it would raise US$ 100 million through equity shares or equity linked instruments to qualified institutional buyers or FCCBs/GDRs/ADRs or equity shares through the depository receipts mechanism and / or other financial instruments convertible into or linked to equity shares.

The decision was taken at the meeting of the company’s board of directors at their meeting held on Monday, Moser Baer India said in a regulatory filing to the Bombay Stock Exchange.

The proposal to raise funds, which is subject to necessary approvals, is aimed at the company's growth plans, the statement said.

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