IVRCL Plans to Raise 8.5 Billion Rupees for Two Units, DNA Money Reports

IVRCL Infrastructure and Projects Ltd. plans to raise funds for two of its units, DNA Money reported, citing the chairman of one of the units.

It will raise 6 billion rupees ($129 million) through a qualified institutional placement for IVRCL Assets and Holdings Ltd. and 2.5 billion rupees for Hindustan Dorr-Oliver Ltd., the newspaper said, citing E. Sudhir Reddy, chairman of IVRCL Assets.

To contact the reporter on this story: Madelene Pearson in Mumbai at mpearson1@bloomberg.net

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