New Delhi, Aug 26 (PTI) Jindal Stainless Ltd on Wednesday said its board has approved raising up to Rs 162.8 crore through issue of convertible equity warrants.

"The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to Rs 162.8 crore on preferential basis," the company said in a filing to the BSE.

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The nod is, however, subject to approval of shareholders of the company at an extra ordinary general meeting scheduled to be held on September 17, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)