CESC plans to raise $150 million

Power utility company CESC Ltd is looking to raise $150 million (approximately ₹ 915 crore) through private placement. According to a stock market disclosure on Monday, CESC said the money may be raised through equity shares, fully convertible debentures, partly convertible debentures, non-convertible debentures with warrants or any other securities (collectively referred to as QIP securities) “on a private placement basis”. The amount to be raised by issue of QIP Securities “shall not exceed a sum of $150 million or rupee equivalent thereof,” the notification stated.