Seed developing company Advanta India today said that it will raise Rs 510 crore by issuing shares on a rights basis.
In a meeting, the board of the company approved the issuance of equity shares or convertible preference shares, collectively amounting to Rs 510 crore, Advanta India said in a filing to the Bombay Stock Exchange (BSE).
However, the company did not disclose the details or purpose of the fund-raising plan.
Shares of Advanta India today settled at Rs 505.50 on the BSE, up 1.55 per cent from the previous close.