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Moser Baer Seeking to Raise $100M

In a filing to the Bombay Stock Exchange, Moser Baer India Ltd. announced its intention to raise as much as $100 million (USD).

According to the January 12, 2010 filling, Moser Baer plans, subject to shareholder approval, to issue equity shares or equity linked instruments to qualified institutional buyers or Foreign Currency Convertible Bonds (FCCBs), Global Depositary Receipts (GDRs) and American Depositary Receipts (ADRs) or equity shares through the depository receipts mechanism and/or other financial instruments convertible into or linked to equity shares.

The company states that the funds will be used to support its growth plans.

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