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Adani Transmission gets shareholders' nod for raising Rs 5K cr

Press Trust of India  |  New Delhi 

Adani Transmission has got shareholders' approval to raise Rs 5,000 crore through issuance of equity share, instrument and securities in one or more tranches in different currencies.

The special resolution was approved in the Annual General Meeting held yesterday, Adani Transmission Ltd stated in a filing today.

Under the proposal, the company had proposed to have flexibility to infuse additional capital to tap capital markets and to raise additional long term resources, if necessary in order to sustain rapid growth in the business, for business expansion and to improve the financial leveraging strength of the company.

The resolution will now enable the Board of Directors to raise funds to the extent of Rs 5,000 crores in any one or more currencies, in one or more tranches, in such form, on such terms, in such manner, at such price and at such time as may be considered appropriate by the Board (inclusive at such premium as may be determined) by way of issuance of equity shares, instruments or securities.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 20:32 IST