Deutsche Bank would buy 5 per cent stakes in BPL. BPL is owned and managed by TPG Nambiar family and headquartered in Banglore. The board of the company has already approved issue of 24.5 lakh equity shares on Friday.

A senior official of company said that it would decide on share prices according to the Sebi guidelines. The shares of company witnessed a downfall of 10.03% on Thursday and closed at Rs 30.95 on Friday.

BPL wants to use these funds to revamp healthcare equipment business and other corporate specific purposes. The health care division of company is working since three decades and manufactures advanced diagnostic equipments. The company had, once, a good colour television market in 90’s. It is facing a financial crisis for a long time.

The CMD of BPL, Ajit G Nambiar said that the Deutsche Bank is involved in its restructuring process since a long time. The company would also arrange funds to rejuvenate its thermal power business.