Torrent Power gets shareholders' nod to raise Rs 1,500 cr

Torrent Power today said it has received shareholders' approval to raise up to Rs 1,500 crore through issuance of non-convertible debentures on private placement basis.
The special resolution for issuance of secured, redeemable, non-convertible debentures not exceeding Rs 1,500 crore, at par, on a private placement basis within the overall borrowing limit of the company is approved by the shareholders, the company said in a BSE filing today.
According to the filing, the special resolution was approved with the requisite majority through postal as well as e-voting.