Ujaas Energy seeks approval to raise Rs 500 crore in one or more tranches

Ujaas Energy is seeking shareholders’ approval to raise Rs 500 crore in one or more tranches through issuance of equity or equity-linked instruments. The board of directors is of the opinion that the company requires additional funds to meet the needs of growing business, in addition to the funds raised internally and through debt from banks and financial institutions.

Ujaas Energy is engaged in manufacturing of transformers. Its products include distribution transformers, power transformers, furnace transformers and special purpose transformers.