Sundram Fasteners has issued a postal ballot to take the shareholders’ approval for its proposed fund raising through non-convertible debentures (NCDs) upto a limit of Rs 300 crore.
The objective of raising funds through issue of debentures is to augment long term resources for refinancing and financing the Company’s working capital requirements, capital expenditure and for general corporate purposes.
The postal ballot also seeks resolution to allow transfer of entire voting share capital of Cramlington Precision Forge Limited, United Kingdom and entire voting share capital of Sundram Fasteners (Zhejiang) Limited, (…)
via Sundram Fasteners to issue NCDs to raise Rs 300 crore | Business Standard News.