Essar Ports to raise fund upto $500 million

Essar Ports has received its board’s approval to raise fund upto an amount of $500 million through issuance of Foreign Currency Convertible Bonds (FCCB) /Global Depository Receipts (GDR) /American Depository Receipts (ADR) /Optionally Compulsorily Convertible Bonds (OCCB) /any other instruments convertible into shares of the company upto an amount of $ 500 million.

The company will seek the enabling approval of the members at the ensuing Annual General Meeting for the aforesaid issue.

Essar Ports is engaged in business of providing end-to-end logistics services with investments in ports and terminals, logistics services, sea transportation and oilfield drilling services.