 "Olectra Greentech plans to raise Rs 800 crore via issuance of securities")
Electric mobility firm Olectra Greentech on Thursday said its board has approved a plan to raise up to Rs 800 crore through issuance of securities.
The company is looking to raise the amount through issuance of equity shares and /or through sale of securities convertible into equity shares.
These could include issuance of warrants through one or more private offerings, it said in a statement.
However, Olectra Greentech did not specify the purpose for raising the funds.
Established in 2000, the company is part of the Hyderabad-based Megha Engineering and Infrastructures Limited.
Driven by higher revenue, the company saw its net profit rise to Rs 18.8 crore in the June quarter.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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