Gulf Oil Corporation is planning to raise Rs 600 crore. In this regard, the company is seeking shareholders’ nod to pass a special resolution that will enable the company to raise up to Rs 600 crore such amount.
The company’s annual general meeting slated to be held later this week will place the special resolution to mop up Rs 600 crore either through an offer of foreign currency convertible bonds or qualified institutional placement or any other mechanism. Meanwhile, the company would also be seeking permission to list such securities in India and abroad.
Gulf Oil Corporation is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharma ingredients (bulk drugs) and pharma formulations.
