With reference to letter dated 19th October, 2023 whereby the company had informed that the Directors had at the Board Meeting held on 19th October, 2023, considered and approved the proposal of raising of Non-Convertible Debentures (NCDs) on a Private Placement basis for an amount up to 500 crores, Voltas has informed that due to alternate option made available to the Company, the Directors have at its Meeting held on 8th November, 2023, approved the proposal of availing of an unsecured Rupee Term Loan from a Bank up to an amount of 500 crores instead of raising funds through NCDs. The Rupee Term Loan would be utilised for capital expenditure of the Company for its new manufacturing plant at Chennai and Waghodia in Gujarat. Accordingly, the proposal for issue of NCDs is withdrawn for the time being. A copy of this intimation is also being made available on the Company’s website at www.voltas.com
