Dalmia Bharat Board Approves Fundraise Of Up To ₹40 Billion

Dalmia Bharat Ltd. on Friday said its board has approved raising up to ₹40 billion in one or more tranches through various permissible routes. The funds may be raised via private placement, preferential issue, public issue, rights issue, qualified institutional placement, or any combination thereof, the company said in an exchange filing.

The fundraising could involve issuing equity shares, preference shares, bonds, debentures, non-convertible debt instruments, warrants or other securities, subject to necessary approvals, including a special resolution from shareholders.

The board has also approved the appointment of Manu Sood as chief digital and information officer, effective Sunday.