Tata group firm Indian Hotels Company Ltd on Wednesday said its board has approved raising up to Rs 750 crore in one or more tranches.
The board at its meeting "approved raising of long term funds not exceeding Rs 750 crore by way of external commercial borrowings, foreign currency borrowings, non-convertible debentures, term loans or through any other debt instrument in one or more tranches," IHCL said in a filing to the BSE.
The company, however, did not disclose how it intends to use the funds it seeks to raise.
Shares of Indian Hotels Company Ltd were trading at Rs 77.80 per scrip on the BSE, down 2.32 per cent over previous close.
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