The company's board will meet on May 10 to consider a proposal for raising long term borrowings by way of external commercial borrowings (ECB) for partial funding of capex Plan of Rs 220 crore, SML Isuzu said in a regilatory filing.
The company plans to utilise the capex for product improvement and up-gradation of technology and plant infrastructure, it added.
The capex has already been approved by the company's board.
Shares of the company today ended at Rs 1,040.80 apiece on the BSE, up 2.71 per cent from previous close.
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