BGR Energy Systems has received board approval to raise up to Rs 1,000 crore through a rights issue. The company plans to increase its authorized share capital and alter its memorandum of association.
New Delhi, Jul 4 (PTI) BGR Energy Systems on Thursday said its board has approved a proposal to raise up to Rs 1,000 crore through a rights issue.
In its meeting held on Thursday, the company's board has decided and approved the increase in its authorised share capital from Rs 100 crore to Rs 1,700 crore and altered its memorandum of association subject to shareholders' approval, according to a regulatory filing.
The board also approved issuance of equity shares of face value of Rs 10 each of the company for an aggregate amount, including premium, not exceeding Rs 1,000 crore by way of a rights issue to the eligible equity shareholders of the company, the filing said.
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