Adani Transmission seeks shareholders' approval to raise Rs 2,500 cr

According to the notice, the proposed resolution seeks the enabling authorisation of the members to the Board of Directors to raise funds to the extent of Rs 2,500 crore or its equivalent in any one or more currencies, in one or more tranches, in such form, on such terms, in such manner, at such price and at such time as may be considered appropriate by the Board inclusive at such premium as may be determined.

Adani Transmission will seek shareholders nod to raise up to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities, debentures etc in its annual general meeting on July 13.

The company proposes to have the flexibility to infuse additional capital, to tap the capital markets and to raise additional long term resources, if necessary to sustain rapid growth in the business, for business expansion and to improve the financial leveraging strength of the company, it said in a notice of AGM. According to the notice, the proposed resolution seeks the enabling authorisation of the members to the Board of Directors to raise funds to the extent of Rs 2,500 crore or its equivalent in any one or more currencies, in one or more tranches, in such form, on such terms, in such manner, at such price and at such time as may be considered appropriate by the Board (inclusive at such premium as may be determined). As per the resolution, the board may raise the money through various instruments.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)