This is to inform you that the Board of Directors of the Company at its meeting held today on November 20, 2021 have inter alia considered and approved to raise fund upto Rs. 2500 Crores by way of Equity, Bond, FCCB, ADR, GDR, Commercial Paper and/or other Debt Instruments and/or any other convertible, partly convertible and non-convertible securities as may be deemed fit including by way Further Issue, QIP, Private Placement and/or Preferential Allotment, any other permitted mode and/or by a combination of any of the above in one or more tranches, as may be permitted under applicable law, subject to such regulatory/ statutory approvals as may be required, including approval of the Shareholders of the Company, if any. This fund raising is primarily to retire company's existing debt and to bring down the cost of the borrowing. Further the Board delegated all its power to the Fund Raising Committee ('FRC') to take all necessary decisions on this fund raising plan, from time to time.
|