Surana Solar Limited has announced that a board meeting will be held on Monday, October 21, 2024. The agenda for the meeting includes:
- Q2 and Half-Year Results: The Board will review and approve the unaudited financial results for the quarter and half-year ended September 30, 2024.
- Fund-Raising for Solar Power Project: The Board will discuss raising funds to meet the financial requirements for a 54 MW (AC) Solar Power Project under the Mukhyamantri Saur Krushi Vahini Yojna 2.0. The funds may be raised through equity, securities issuance, private placement, rights issue, or qualified institutions placement (QIP), among other options.
- Expansion of Solar Manufacturing: Surana Solar is also evaluating the proposal to set up up to 500 MW of solar cell and module manufacturing capacity at its Fabcity factory in Hyderabad.
Additionally, the Board may convene an extraordinary general meeting (EGM) or initiate a postal ballot to seek shareholder approval for the fund-raising proposals.
The company also mentioned that the trading window for its equity shares remains closed for all designated persons, their relatives, and connected individuals until 48 hours after the results announcement.
