CG Power and Industrial Solutions Limited is in plans to raise Rs 100 crore through issue of securities on a preferential basis in accordance with applicable laws.
The Company has scheduled a Board Meeting on September 2, Wednesday to consider the further fund raising activities.
In a late night BSE regulatory filing on August 30th, the Mumbai based company said. “Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, a Meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, September 2, 2020, to consider amongst other businesses, further fund raising through issue of securities on a preferential basis upto INR 100 Crores in accordance with applicable laws.
CG Power and Industrial Solutions Limited (previously known as Crompton Greaves) is an Indian multinational company engaged in manufacturing and marketing of products related to power generation, transmission and distribution.
Recently, Murugappa Group’s Tube Investments of India acquired stake in the company. Read here.
On August 28th , the share closed at Rs 21.35 on the National Stock Exchange.
