Board of Shree Renuka Sugars approves increase in authorised capital

At meeting held on 27 July 2017

Shree Renuka Sugars announced that the Board of Directors of the Company at its meeting held on 27 July 2017 transacted the following -

Approved increase in authorised share capital from Rs 185 crore to Rs 2515 crore (comprising of equity share capital of Rs 290 crore and preference share capital of various classes of Rs 2225 crore) and consequent amendment to the capital clause of the MoA of the Company;

Approved preferential issue of up to 50 crore, 0.01% compulsorily convertible preference shares of Rs 16.27 each at par, to Wilmar Sugar Holdings, entity belonging to the promoter and promoter group of the Company.

Approved preferencial issue of following securities to the lender of the Company up on conversion of a part of their loans upto;
51,32,14,505 equity shares of Re 1 each at a price of Rs 835 crore;
9,35,60,000, 0.01% redeemable preference shares of Rs 100 each at par aggregating Rs 935.60 crore;
4,50,00,000, 0.01% optionally convertible preference shares of Rs 100 each at par aggregating Rs 450 crore; and
5850, 0.01% NCDs of Rs 10 lakh each at par aggregating Rs 585 crore.

Issue of global depository receipts (GDRs) aggregating up to Rs 800 crore.

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