In order to strengthen the Balance Sheet, the Company has obtained the approval of the Board of Directors to raise an additional capital by way of Rights Issue. The size of the Issue is Rs. 2670 million to be issued on par on Rights basis at the ratio of four equity shares for every five shares held. This was a part of the overall debt restructuring plan approved by IDBI, the lead financial institution. The issue is slated in the first quarter of next financial year.
CORPORATE