Quarterly Result24 Jan 2025, 11:54 pm
Orient Green Power Company Ltd. Reports Utilization of Rs. 250 Crores from Rights Issue as of December 31, 2024
AI Summary
Orient Green Power Company Ltd. has provided a Statement of Utilization of Rights Issue Proceeds for an amount of Rs. 250 crores as of December 31, 2024. The funds were raised through a Rights Issue dated September 20, 2024. The Statement was reviewed by the Audit Committee at their meeting on January 24, 2025. The company has utilized the funds for various purposes including investing in a newly incorporated subsidiary, repayment of unsecured loans, and general corporate purposes.
Key Highlights
- Rs. 250 crores raised through Rights Issue as of December 31, 2024
- Funds utilized for investing in a newly incorporated subsidiary and repayment of unsecured loans
- Rs. 153.09 crores still unspent and placed in fixed deposits with banks
- Audit Committee reviewed the Statement of Utilization on January 24, 2025
- Utilization in line with the terms and conditions set forth in the Letter of Offer