Anant Raj Industries, one of the leading Construction and Infrastructure Developers in North India, has decided to raise Rs 2,000 crore by issuing securities on QIP basis.

The company informed in a release that its board of directors has finally sanctioned its proposal for the raising of funds up to Rs 2,000 crore by issue of securities through private placement to the QIBs.

However, the sources reported that apart from allotment of securities on a QI P basis, the company may opt for issuance of American depository receipts (ADRs), global depository receipts (GDP), foreign currency convertible bonds (FCCBs).

The company would hold an extra-ordinary general meeting (EGM) of its shareholders on June 25 to seek their approval for the raising of funds.

The scrip of the company closed on Friday at Rs 127, up 5% compared to previous close of Rs 121. The counter has made 52-week high and low of Rs 245 and Rs 37 respectively.