1. JSW seeks shareholders’ nod to raise Rs 12,500 cr in FY’17

JSW seeks shareholders’ nod to raise Rs 12,500 cr in FY’17

The resolution to raise Rs 5,000 crore through non-convertible redeemable debentures on private placement basis is listed on the agenda for annual general meeting, JSW Energy said.

By: | New Delhi | Published: June 28, 2016 8:29 PM
(Source: Website) JSW energy’s max limit for investment will be increased to 21,030.48 crore. (Source: Website)

JSW Energy has sought shareholders approval to raise Rs 12,500 crore through issuance of securities, equity shares and other instruments, the company said today.

The special resolution to raise Rs 5,000 crore through non-convertible redeemable debentures on private placement basis is listed on the agenda for annual general meeting scheduled on July 21, 2016, JSW Energy said in a BSE filing.

According to the statement, there is another special resolution for raising Rs 7,500 crore through issuance of securities, GDRs, ADRs and equity shares.

The company has also sought its shareholders approval to increasing the limit of investment in other body corporates and entities for expanding its business by Rs 15,000 crore over and above the permissible limit of Rs 6,030.48 crore as per audited financial results for 2015-16.

Thus, the companies’ maximum limit for investment will be increased to 21,030.48 crore after passage of this resolution in the annual general meeting.

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