India Cements board to consider raising INR5bn, mulls MSE delisting

India Cements today said its board will consider a proposal to raise INR5bn (US$81.3m) from investors.

"The Board of Directors at its meeting will, consider the following issue of QIP, FCCB, GDR and/or other securities for a total sum not succeeding INR500 crore”, India Cements said in a filing to the BSE stock exchange.

The board would also consider delisting of its shares from the Madras Stock Exchange Ltd (MSE), it said.