XL Telecom to raise USD 100 mn

XL Telecom & Energy, which is engaged in manufacturing telecom products and solar photo-voltaic cells, said it will raise funds to the tune of USD 100 million (about Rs 445 crore) by issue of securities.

The board of directors of the company, at its meeting held on Wednesday, have approved to raise USD 100 million by issue of shares or foreign currency convertible bonds or American Depository Receipts or Global Depository Receipts from global markets, XL Telecom & Energy said in a filing to the Bombay Stock Exchange (BSE).