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Schneider Electric Infra seeks shareholders nod

Business Finance

Press Trust of India  |  New Delhi 

Schneider Electric Infrastructure on Friday sought shareholders nod to raise its borrowing limit by Rs 100 crore to Rs 550 crore through postal ballot.

The company has proposed a resolution to hike borrowing limit to Rs 550 crore from Rs 450 crore, a regulatory filing said.

Due to the prevailing lockdown situation because of coronavirus (COVID-19) pandemic, the cash flows of the company are affected significantly and thus, in order to conduct its business operations smoothly and meet its working capital requirements, the company intends to raise the additional funds through borrowings, the company said.

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

First Published: Fri, May 22 2020. 19:40 IST