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Moser Baer Gets Board Nod For Raising $100M

12 January, 2010

Moser Baer India Ltd, a Delhi-based technology company, plans to raise up to $100 million through equity or equity linked instruments. The board of directors of the company has recently approved the fund-raising issue, which is now subject to the approval of the shareholders, said the company in its filing to the Bombay Stock Exchange. 

The company plans to raise the fund through the issue of equity shares or equity linked instruments to qualified institutional buyers (QIB) or through foreign currency convertible bonds (FCCBs), global depository receipt (GDRs), and American depository receipt (ADRs), added the company.

Starting as a manufacturer of optical storage media like CDs and DVDs, Moser Baer has diversified its business in solar energy, home entertainment and IT peripherals & consumer electronics space.  

Its photovoltaic unit Moser Baer PhotoVoltaic, a wholly owned subsidiary, has raised $92.5 million (Rs 411 crore) in second round of funding from a consortium of global investors including Japan’s Nomura, UK Government’s CDC Group, IDFC PE, Morgan Stanley, Credit Suisse and IDFC in 2008. While in 2007, the company raised $100 million in the first round led by IDFC PE, with other investors including GIC Special Investments, CDC and IDFC.  

Net profit of the company was Rs 42.9 crore in FY09, with an EBITDA margin of 20.4%.


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Moser Baer Gets Board Nod For Raising $100M

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