The company will allot 15.5 per cent secured redeemable non-convertible debentures to IDBI on a private placement basis for raising Rs 12 crore, while it will be getting a term loan of about Rs 10 crore from ICICI.

"The funds thus raised will be utilised to meet the normal capital expenditure and working capital requirements. Last fiscal BPL Sanyo Technologies invested Rs 6.63 crore on fixed assets by lifting Rs 11.75 crore from IDBI through the same route," a senior BPL group official said.

BPL Sanyo will seek shareholders' approval at the forthcoming annual general meeting at Palakkad in Kerala on September 17.

BPL Sanyo Technologies, which mainly manufactures and markets audio items, will also unveil region specific products in coming years.

As per the strategy, which also involves expanding itsmarket reach, it will launch latest models with contemporary features aimed at the urban market this fiscal.

BPL Sanyo also has plans to manufacture sturdy and inexpensive models with basic features for the semi-urban and rural market. A combination of CD and tape-based models with different sound options will also be introduced during the current year.