* Announces capital raise of $30 million
* Says will issue a total of 7,500,000 shares to the institutional investors
* Says issue of common stock at a price of $4.00 per share
* Capital raised will be used for acquisitions and expansion of the company's
battery manufacturing facility
* Entered into agreements with institutional investors for direct placement of
about $30 million of common stock
* Will issue warrants to purchase 3.75 million shares which, if fully
exercised, would provide $15 million in proceeds
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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