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It did not disclose details about how the funds would be used.Bhushan had said in April it plannned to spend 50 billion rupees ($1.77 billion) to add 1.8 million tonnes steel capacity at its Orissa unit.
It earlier posted a 21 percent rise net profit in the quarter-ended March to 2.9 billion rupees on net sales of 19.7 billion rupees.
On Friday, its shares ended down 0.34 percent at 471.1 rupees in a strong Mumbai market.