This Article is From Aug 10, 2016

Adani Power Gets Shareholders' Nod To Raise Up To Rs 10,000 Crore

Adani Power Gets Shareholders' Nod To Raise Up To Rs 10,000 Crore
New Delhi: Adani Power on Wednesday said it has received approval of its shareholders to raise up to Rs 10,000 crore through equity shares or other instruments like GDRs and debentures.

The special resolution was passed by the shareholders at the company's annual general meeting held on August 9, 2016, it said in a filing to the BSE.

The shareholders also passed a resolution to hike the firm's borrowing limit to Rs 45,000 crore from Rs 35,000 crore.

Earlier, shareholders 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 at the AGM held on August 9, 2014.

The shareholders also approved a proposal to invite subscription by making one or more offers through redeemable secured/unsecured non-convertible debentures in one or more tranches during the year.
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