Zuari Agro Chemicals gets shareholders nod to raise Rs 400 cr

Zuari Agro Chemicals on Saturday said its shareholders have approved the proposal of raising up to Rs 400 crore by issuance of securities in one or more tranches.

The 99.99 per cent votes were in favour of the special resolution to raise up to Rs 400 crore by issuance of securities, the company said in a BSE filing today.

The proposal was to raise funds by issue of equity shares and/or any other permissible securities convertible into equity shares through qualified institutional placement (QIP) or through any other permissible mode or a combination thereof in one or more tranches... for an amount not exceeding Rs 400 crore.