Ravindra Energy said it will seek shareholders’ approval to raise up to Rs 102 crore through issuance of warrants at its extraordinary general meeting (EGM) on March 23, 2022.
The Board of Directors proposes to create, offer, issue and allot two crore warrants at the rate of Rs 51 per unit for an amount up to Rs 102 crore.
The tenure of the warrants shall not exceed 18 months from the date of allotment, it added.
It explained that it wants to raise funds through issuance of warrants to meet the funding requirements the company and its subsidiaries, repayment of existing debt and for general corporate purposes.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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