Uttam Sugar Mills has received an approval for raising of funds for an aggregate sum not exceeding Rs 300 crore by way of further issue of securities (convertible / non-convertible) through private placement/ preferential allotment or otherwise to fund capital expenditure / repayment of loans and working capital requirements.
The Board of Directors of the company at its meeting held on August 10, 2019, approved the same.
Uttam Sugar Mills is engaged in production of sugar, Ethanol and generation of power. The company has four sugar plants, which are located in northern India. One plant is located in the state of Uttarakhand and three plants in the state of Uttar Pradesh.