Scan Steels to raise up to Rs 50 crore

NEW DELHI: Scan Steels today said it plans to raise up to Rs 50 crore through a preferential issue of convertible equity share warrants.

"A meeting of the Board of Directors of the company will be held on August 31, 2015, inter alia, to consider and approve raising up to Rs 50 crore by way of preferential issue of convertible equity share warrants to the promoters subject to approval in the general meeting," Scan Steels said in a BSE filing.

The company will also approve and adopt the Board's report for the financial year ended March 31, 2015, at the meeting, it added.