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Orient Cement aims to raised Rs 500 crore

Orient Cement Ltd has been planning to raise Rs 500 crore from the market through qualified institutional placements, equity shares or through other securities.

Orient Cement has said in a regulatory filing that the board of the company approved a proposal to raise the fund in one or more tranches and would seek shareholders’ approval through an AGM.

The firm may also use methods “including by way of a rights issue to existing shareholders of the company, private placement or a further public issue, or issue of Global Depository Receipts/American Depository Receipts, Foreign Currency Convertible Bonds.”

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