Zuari Agro Chemicals has sought its shareholders’ approval to raise up to Rs 755 crore through various modes to mainly fund revamp of its ammonia-urea plants. The company proposes to raise approximately Rs 255 crore by Foreign Currency Convertible Bonds (FCCBs) to support the revamp project. Besides, it plans to raise up to Rs 500 crore by issuing Compulsory Convertible Debentures (CCDs) via rights issue to existing investors for the revamp and general corporate purposes.
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.
