Vedanta Resources group firm Sterlite Industries today announced that it will raise USD 500 million from the American market to part finance expansion of copper business and business acquisitions.
The company has offered to sell senior notes, which would be convertible into American depository shares (ADS) which in turn are expected to result in gross proceeds of USD 500 million.
The company intends to use the proceeds from the offering for the expansion of its copper business with allied power plant and acquisition of complementary businesses outside of India.
The offering is expected to close on Oct. 29, 2009
| NIFTY 
