VA Tech Wabag has received an approval for raising of funds through issuance of secured/ unsecured redeemable Non-Convertible Debentures by way of private placement for up to Rs 300 crore as and when required through one or more tranches, in order to support the future growth opportunities and any funding required for working capital needs arising out of changed methodology adopted recently by the banks. The Board of Directors of the company at their meeting held on July 09, 2018, approved the same.
This proposed issuance of NCD will be within the already approved overall borrowing limits of the company.
VA Tech Wabag is an India-based company engaged in the business of water treatment field. The company's principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.
