ABB, a leading player in power and automation technologies, announced on Thursday that the board of directors of the company approved the proposal to raise Rs 6 billion by way of issuance of unsecured listed redeemable non-convertible debentures (NCDs) on private placement basis to investors on such terms and conditions as may be decided by the board.

The issuance would be subject to the approval of the shareholders by way of a special resolution through postal ballot.

Shares of the company gained Rs 8.6, or 0.63%, to trade at Rs 1,371.10. The total volume of shares traded was 1,838 at the BSE (9.44 a.m., Friday).