Nahar Industrial Enterprises Ltd plans to yield US $40 million from international markets through the issue of foreign currency convertible bonds or other equity linked financial instruments.
The Extraordinary General Meeting (EGM) granted authority to the Company Board to raise money through FCCBs, GDRs or through private placement of securities.
The FCCB offer will also entail a green shoe option of $5 million.
The EGM also authorized to augment the company's share capital from Rs50 crore to Rs65 crore.
Nahar Industrial Enterprises is a reputed industrial conglomerate and member of the Oswal Group that deals in the manufacture and trade of soaps, cotton yarn and fabrics, spinning, knitting, hosiery garments, vegetable oils and sugar.
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