Borosil Renewables informs about outcome of committee meet

Borosil Renewables Ltd. | Glass | Construction & Infrastructure | BSE: 502219 | NSE: BORORENEW

01 Mar 2024 Evaluate

In terms of Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with related circulars and notifications, and in furtherance of intimation dated February 27, 2024, Borosil Renewables has informed that the Securities Issue Committee of the Board of Directors of the Company (the Committee) at its meeting held today March 01, 2024, has approved the fund raising by the Company of an amount not exceeding Rs 500 crores, subject to receipt of necessary statutory / regulatory approvals, as may be required under applicable law, by way of issue of equity shares on rights issue basis to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with the applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosures Requirements) Regulations, 2018 as amended from time to time. For the purposes of giving effect to the rights issue, the detailed terms of the rights issue including but not limited to the issue price, rights entitlement ratio, record date, timing and terms of payment will be determined in due course by the aforesaid Committee or the Board, in accordance with applicable laws, subject to receipt of necessary approvals, as may be required. The aforesaid meeting commenced at 10:00 am and concluded at 10.35 am.

The above information is a part of company’s filings submitted to BSE.