The Board of Directors of the Company approved raising funds up to INR 300 crores (INR Three Hundred Crores only) (or equivalent) ("Fund Raise Amount") in one or more tranches, by way of ....
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The Board of Directors approved raising funds up to INR 300 crores in one or more tranches. The fund raise may be executed through equity shares, equity-linked instruments, preferential allotment, rights issue, warrants, bonds, or any other permissible mode. The specific instrument, pricing, and timing are yet to be finalised and will be subject to shareholder and regulatory approvals as applicable. This is a general fund-raising approval and no concrete terms have been disclosed yet.
The announcement signals the company's intent to raise significant capital but provides no immediate price impact as no deal terms are finalised. Dilution details and use of proceeds are pending.