New Delhi, Feb 28 (PTI) Ravindra Energy said it will seek shareholders' approval to raise up to Rs 102 crore through issuance of warrants at its extraordinary general meeting (EGM) on March 23, 2022.

The Board of Directors proposes to create, offer, issue and allot two crore warrants at the rate of Rs 51 per unit for an amount up to Rs 102 crore.

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The tenure of the warrants shall not exceed 18 months from the date of allotment, it added.

It explained that it wants to raise funds through issuance of warrants to meet the funding requirements the company and its subsidiaries, repayment of existing debt and for general corporate purposes.

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(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)