Business Update20 Aug 2024, 11:11 pm
Sansera Engineering Ltd Approves Fundraising of up to INR 1,200.00 Crores and Additional Investment in MMRFIC
AI Summary
Sansera Engineering Ltd announced the outcome of its Board meeting held on August 20, 2024. The Board approved the raising of funds up to INR 1,200.00 crores through various methods, including further public issue, debt issue, preferential allotment, private placement, or qualified institutions placements. The company will also make an additional investment of INR 20.00 Crores in MMRFIC Technology Private Limited. Additionally, the Board proposed an increase in the authorized share capital of the company and the convening of the 42nd Annual General Meeting on 26th September 2024.
Key Highlights
- Sansera Engineering Ltd to raise up to INR 1,200.00 crores through various methods
- Additional investment of INR 20.00 Crores in MMRFIC Technology Private Limited
- Proposed increase in the authorized share capital of the company
- 42nd Annual General Meeting to be held on 26th September 2024
- Funds raised to be used for business growth and expansion