Borosil Renewables to Raise Rs 500 Cr via Equity Shares

New Delhi, Mar 1 (PTI) Borosil Renewables Ltd on Friday said its board has approved a proposal to raise up to Rs 500 crore through the issuance of equity shares.

The proposal is subject to necessary statutory/regulatory approvals, the company said in an exchange filing.

"The Securities Issue Committee of the Board of Directors of the company has approved the fundraising by the company of an amount not exceeding Rs 500 crore...by way of issue of equity shares on rights issue basis to the eligible equity shareholders," it said.

The record date for the purpose will be notified accordingly, the filing said.

Borosil Renewables manufactures solar glass for various applications.