Zuari Agro approves raising up to Rs 400 crore

The board of Zuari Agro Chemicals Ltd has approved raising up to Rs 400 crore of funds by issuing equity shares through the qualified institutional placement (QIP) route, the company said in a statement to stock exchanges on Tuesday. 

Zuari Agro also said in the statement that it could alternatively use any other permissible mode or a combination in one or more tranches.
 

The board has constituted a committee for implementation of the fundraising plan.