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Thursday, May 04, 2006


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Corporate - Overseas Borrowings
Industry & Economy - Real Estate & Construction


SSI to raise $100 m via bonds, GDRs

Our Bureau

Chennai , May 3

SSI Ltd plans to raise $ 100 million by way of foreign currency convertible bonds, Global Depository Receipts and American Depository Receipts to fund its expansion plans.

The company plans to invest about Rs 500 crore in its subsidiaries.

This will be mainly in those companies that are into real estate projects, according to company sources.

The company plans to introduce and alter the main objective of the Memorandum of Association of company that would reflect the current and future focus of the company.

SSI, which was earlier into computer education, is now concentrating on real estate, entertainment and hospitality sectors.

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