Adani Power has sought shareholders’ nod to raise up to Rs 10,000 crore through issuance of equity shares or other instruments like GDR, ADR or debentures, increasing its earlier borrowing limit.
The special resolution of the firm is listed on agenda of the Annual General Meeting of the company scheduled on August 9, 2016, Adani Power said in a BSE filing today.
The company said it will increase its borrowing limit to Rs 45,000 crore from Rs 35,000 crore.
Earlier, shareholder had approved the borrowing limit of Rs 35,000 crore in excess of and in addition to the paid up capital and free reserves of the company for the time being, at the AGM held on August 9, 2014.
The company has also sought shareholders approval to invite subscription by making one or more offers through redeemable secured/unsecured non-convertible debentures in one or more tranches during the year.