The corporate with belongings below administration of Rs 12000 crore mentioned that it acquired board approval for elevating as much as Rs 915 crore via CCDs and as much as Rs 400 crore via rights situation.
The CCDs can be issued at a conversion value of RS 185 per share. The corporate’s share value fell 1.49% to Rs 189.05 on BSE. The phrases of the rights situation could be decided within the subsequent board assembly, in keeping with phrases of preferential allotment, the corporate mentioned Tuesday.
It mentioned that Samena Capital and its non-public fairness funds at the moment proudly owning 7.49% collectively dedicated as much as Rs 500 crore and would develop into a big institutional shareholder of it. IFU – the Funding Fund for Creating Nations, a Danish influence investor, owns 16.35% in Ugro Capital.
