"The Board of Directors of the company has considered and approved raising of funds for an amount not exceeding Rs 75 crore through issuance of securities or through a qualified institutions placement .... ", the Chennai-based company said in a BSE filing.
The company would convene an extra-ordinary general meeting of the members on January 12, 2015, for obtaining approval for raising funds, it said.
Shares of the company ended at Rs 522 apiece, up by 0.14 per cent, over previous close in BSE.
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