Birla Power Solutions, part of the Yash Birla Group, plans to invest in a special purpose vehicle (SPV) for the purspose of entering into two new power businesses, said the company in a press statement to the Bombay Stock Exchange.
The company plans to enter into solar power generation and thermal power generation. The SPV will be a subsidiary of Birla Power Solutions.
Menawhile, in an earlier announceme the company had said that the board of directors will meet on March 25, to consider and approve means to raise funds. The company will either increase its authorised shared capital or raise funds by issue of global depositary receipts (GDRs), American Depositary receipts (ADRs), foreign currency convertible bonds (FCCBs) and equity share or any other instrument convertible into equity shares.
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