Skipper shareholders okay higher borrowing limit of Rs 8,000 crore
SKIPPER · price
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On the reaction day the stock moved 0.4 pts less than Nifty Microcap 250 and 0.1 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Skipper Limited got shareholder approval through postal ballot to raise its borrowing limit to Rs 8,000 crore and to create mortgage or charge on its assets. Both special resolutions passed with about 95 percent votes in favor. 280 members holding about 8 crore equity shares took part in the e-voting. The vote clears the way for the company to expand its borrowing capacity.
Company can now take on up to Rs 8,000 crore in debt and pledge assets. Signals possible growth plans or higher leverage ahead.