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Home STOCKS Torrent Ability seeks shareholders' nod to increase up to Rs 2,000 crore...

Torrent Ability seeks shareholders’ nod to increase up to Rs 2,000 crore via NCDs

Torrent power will look for shareholders’ approval following month for increasing up to Rs 2,000 crore via issuance of NCDs. The particular resolution for issuance of non convertible debentures (NCDs) by way of offer or invitation, up to an combination Rs 2,000 crore, on a private placement, is detailed on the agenda of the annual basic conference scheduled for August 6, in accordance to a regulatory filing.
It said the acceptance of users is sought for elevating the total inside of the all round permitted borrowing restrict of the corporation.
The funds are proposed to be lifted from experienced institutional customers or banking institutions other than scheduled industrial banking institutions, businesses, bodies company, Overseas Portfolio Traders or various money (like pension, gratuity etc.)
The shareholders would also look at a resolution on payment of interim dividend of Rs 11.60 per equity share (including specific dividend of Rs 5 per equity share) for 2019-20.

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