Zuari Agro Chemicals has received its shareholders’ approval for the proposal of raising up to Rs 400 crore by issuance of securities in one or more tranches. The 99.99 percent votes were in favour of the special resolution to raise up to Rs 400 crore by issuance of securities.
The proposal was to raise funds by issue of equity shares and/or any other permissible securities convertible into equity shares through qualified institutional placement (QIP) or through any other permissible mode or a combination thereof in one or more tranches for an amount not exceeding Rs 400 crore.
Zuari Agro Chemicals is one of the leading fertilizer conglomerates in India. The company produces high-quality complex fertilizers of various grades along with seeds, pesticides, micro nutrients, and specialty fertilizers.
