Electrotherm (India) has received an approval for raising funds in the form of equity and/or convertible securities by way of qualified institutional placement (QIP) / Preferential Allotment/ FCCB /ADR/GDR/ Right Issue or any other method linked to equity / preference shares / any instrument or securities representing convertible securities up to Rs 200 crore. The board of directors at their meeting held on July 13, 2017, has approved for the same.
Electrotherm (India) is engaged in the manufacturing of steel, electric vehicle and providing engineering services. The company also manufactures electric vehicles and markets it under the brand name Yo-bykes.