Birla Tyres board approves raising up to Rs 1,100 cr

The company's board has approved a fund raising plan of an amount aggregating up to Rs 1,100 crore, Birla Tyres said in a regulatory filing. A committee of the Board is constituted, which shall look into and decide and formulate further details of the exercise, it added.

Birla Tyres on Friday said its board has approved raising up to Rs 1,100 crore. The company's board has approved a fund raising plan of an amount aggregating up to Rs 1,100 crore, Birla Tyres said in a regulatory filing.

A committee of the Board is constituted, which shall look into and decide and formulate further details of the exercise, it added. The Kolkata-based firm, which caters to two-wheelers, three-wheelers and commercial vehicles, however, did not share the reasons for raising the capital.