Swan Energy gets shareholders’ nod to raise Rs.1,200 crore

The shareholders also adopted audited financial results for the year ended on 31 March, 2016 along with reports of board and auditors


Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

New Delhi: Swan Energy Ltd on Tuesday said it has received shareholders’ approval to raise Rs.1,200 crore through issuance of equity shares or securities like Foreign Currency Convertible Bonds (FCCB).

The special resolution to raise Rs.1,200 crore by the company was approved by the shareholders in the annual general meeting held on 21 September, 2016, the company said in BSE filing. According to the statement, shareholders also approved dividend at the rate of 5% for every equity share with a face value of Rs.1 each on 22,11,80,000 shares, amounting to Rs.1,10,59,000 for 2015-16.

The shareholders also adopted audited financial results for the year ended on March 31, 2016 along with reports of board and auditors.

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