Emco has received an approval to raise funds through various sources. The board of directors at its meeting held on June 26, 2017 has approved for the same. The board has approved for raising of funds up to an amount not exceeding Rs 225 crore by way of Rights Issue/ QIP and/or on preferential allotment basis, an issue any other Securities in one or more combination thereof.
Besides, it has also approved for issue of equity shares up to an amount not exceeding Rs 75 crore to lenders pursuant to conversion of existing loans. The board approved for issue of OCD or any other mode of securities up to an aggregate amount not exceeding Rs 300 crore to lenders pursuant to conversion of existing loans.
Emco is engaged in manufacturing power equipments and is the third largest manufacturer of transformers in India.
