Mumbai: Nagarjuna Construction on Thursday said it will raise Rs600 crore by way of private placement of shares with potential buyers.
The shareholders have approved to raise funds to the tune of Rs550 crore, with an option to raise an additional amount of Rs50 crore, if the issue is fully subscribed by private placement of shares with buyers, Nagarjuna said in a filing to the Bombay Stock Exchange.
Further, the company has approved the appointment of A.J. Jaganathan as director on the board, the filing added.
Shares of Nagarjuna Construction were trading at Rs145.20 on the BSE, down 0.58% from previous close.