Falcon Tyres plans to raise Rs 1,000 crore

The BSE listed Falcon Tyres will raise Rs 1,000 crore by way of right issue of equity shares, warrant and any other convertible instrument, or a combination of all. Approval for the same had been given at a board meeting of the company on January 29.

The company will appoint merchant banker and advisors over the next one week to take a final call of structure and pricing of the issue, Pawan Kumar Ruia, chairman of the Ruia group, which now owns Falcon Tyres, told Financial Chronicle on Monday.

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