Board of Tejas Network approves fund raising up to Rs 1850 cr

At meeting held on 29 July 2021

The Board of Tejas Network at its meeting held on 29 July 2021 has approved the raising of funds up to Rs 1850 crore by allotting the following securities to Panatone Finvest by way of preferential issue on a private placement basis:

- Up to 1,93,79,845 equity shares of Rs 10 each at a price of Rs 258 per share aggregating Rs 500 crore;

- Up to 3,68,21,706 warrants each carrying the right to subscribe to one equity share at an exercise price of Rs 258 per share aggregating Rs 950 crore;

- Up to 1,55,03,876 warrants each carrying the right to subscribe to one equity share at an exercise price of Rs 258 per share aggregating to Rs 400 crore.

The Board also approved increase in authorised share capital of the company from Rs 176.45 crore to Rs 200 crore.

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