Bhushan Steel gets shareholders' nod to raise $500 million

Domestic steel producer Bhushan Steel today said it has got shareholders' nod to raise up to USD 500 million (about Rs 2,300 crore) through the issue of securities.

Domestic steel producer Bhushan Steel on Monday said it has got shareholders' nod to raise up to USD 500 million (about Rs 2,300 crore) through the issue of securities.

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In a filing to the Bombay Stock Exchange (BSE), the firm said it members have approved the fund-raising proposal through a postal ballet.

The company may raise funds via ADR, GDR, bonds, or any other medium.

Bhushan Steel's shares closed at Rs 1,444.15, up 2.16 per cent on the BSE on Monday.