ABG plans share sale to fund expansion

Bangalore: Shipbuilder ABG Shipyard Ltd plans to raise as much as Rs450 crore through a share sale to fund expansion and long-term working capital. “ We are looking to raise Rs450 crore through issue of equity shares, convertible securities, including by way of qualified institutional placements," Dhananjay Datar, chief financial officer, ABG said over the phone from Mumbai.