Cholamandalam Investment and Finance Company on Thursday said its board has approved raising Rs 300 crore in capital through an issue of securities. "The board of directors at a meeting today has approved raising capital up to Rs 300 crore by an issue of securities ... in one or more trenches, through private placement including QIP," Cholamandalam Investment and Finance Company said in a filing to the BSE.
The approval of shareholders for the above issue has been proposed to be sought through a postal ballot, it said. Shares of the company, part of conglomerate Murugappa Group, closed down by 3.74 percent at Rs 270.10 on BSE.
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