Record / Schedule
of Investor Meetings
The Company vide its Board approval dated 1st November 2017 has approved, subject to approval of shareholders, issuance of upto 2.4 crore equity shares/ securities convertible into equity shares by way of a qualified institutions placement and upto 2.5 crore shares to Mahindra & Mahindra Limited, its promoter.
The fund raise shall benefit the company to meet its business growth and funding requirements, investment in its subsidiaries and joint venture, strengthen its capital adequacy and for general corporate purposes. It shall also assist the Company in maintaining its growth and with its promoter maintaining majority through the equity participation, it shall be able to maintain its credit rating thereby having lower borrowing costs.
The shareholder meeting to consider the resolution to approve the issuance shall be held on 29th November 2017.