Essar Oil to raise USD 2,000 mn

MUMBAI: Private sector refiner, Essar Oil on Saturday said it will raise USD 2,000 million (nearly Rs 9,606 crore) through various domestic and international fund raising routes.

The shareholders of the company at its meeting approved raising of USD 2,000 million through issue of equity shares or convertible debentures from domestic market, Essar Oil said in a filing to the Bombay Stock Exchange.

The firm would raise funds through American Depositary Receipt (ADR)s, Global Depositary Receipt (GDR)s and Foreign Currency Convertible Bond (FCCB)s.

Further, the company has also annopunced the re-appointment S N Ruia and D J Thakkar as directors on its board, the filing added.