Ultratech Cement to raise up to Rs 3,000 crore via dollars bond

Ultratech Cement's board has approved a proposal raise up to Rs 3,000 crore through issuance of US dollar-denominated bonds. "The finance committee... approved raising funds by way of issuance of foreign currency (USD) denominated bonds (Notes) aggregating up to USD 400 million, corresponding to Rs 3,000 crore, to be offered and sold within the United States to qualified institutional buyers... in one or more tranches," the company said.