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

Olectra, Olectra Greentech
Press Trust of India Mumbai
1 min read Last Updated : Sep 01 2022 | 7:40 PM IST

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.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :fund raisingMarkets

First Published: Sep 01 2022 | 7:39 PM IST

Next Story