Hatsun Agro seeks shareholders' nod to raise Rs500 crore via QIP
Hatsun Agro has sought shareholders' nod for raising of funds up to Rs500 crore by issue of securities to qualified institutional buyers through qualified institutional placement
New Delhi: Dairy firm Hatsun Agro Products has sought shareholders' approval to raise up to Rs 500 crore through private placement of securities to institutional investors.
The shareholders' nod has been sought through postal ballot, according to a regulatory filing. In a postal ballot notice, the company has sought shareholders' nod for "raising of funds up to Rs500 crore by issue of securities to qualified institutional buyers through qualified institutional placement".
The company said it needs capital for business growth. "While it is expected that the internal generation of funds would partially finance the need for capital, the raising of funds through QIP route would be another source of funds to raise a part of the funding requirements for the said purposes as well as for such other corporate purposes...," Hatsun Agro said.
Editor's Picks »
- France’s Engie appoints Rothschild to find a buyer for Indian solar biz
- Going into 2019, has brand Modi lost some of its sheen?
- Sun Pharma’s cancer injection from Halol plant gets USFDA nod
- A click moment for us was raising ₹100 crore in seed round to chase our dreams: Manish Lunia
- HDFC mutual fund arm to launch its ₹2,800 crore initial share sale next week
- Fund managers slashing allocations to equities in emerging markets, shows BAML survey
- ICICI Lombard tightens grip on profitability in a lean growth quarter
- TCNS Clothing IPO: Valuations capture the upsides adequately
- Nightmare of Indian Accounting Standard 115 comes to haunt firms in the real estate sector
- What is driving the optimism in stocks of paint companies?