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| Exchange Received Time 03/01/2018 16:47:16 Exchange Disseminated Time 03/01/2018 16:47:22 Time Taken 00:00:06 | we wish to inform you that, the Board of Directors of the Company at its Meeting held on January 03, 2018 has approved the following:
a.Issue of convertible warrants on preferential basis to BG Advisory Services LLP, being a corporate entity forming part of the Promoter Group of the Company, up to a maximum amount of Rs. 300 Crore; and
b.Raising of funds through issue of securities, in one or more tranches, upto a sum not exceeding Rs. 750 Crore
It is further informed that shareholders' approval for both the above matters shall be obtained through Postal Ballot process.
c.Raising of funds upto Rs. 750 Crore only by way of offer, issue and allotment equity shares on a rights basis (Right Issue), at such issue price and right entitlement ratio as may be decided by the Board.
Further Board has authorised Fund Raising Committee to do the required process and decide on all the matters relating to the right issue in consultation with Lead Manager(s).
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