Construction and engineering company BS Transcomm Ltd is exploring opportunities in the infrastructure sector and has amended the relevant clauses of its memorandum of association to enable a future diversification.
The company, which manufactures power and telecom towers, has included generation and distribution of power, transmission, transportation, ports, roads and highways, petroleum and natural gas, mining and related activities in the term ‘infrastructure sector’ in its memorandum of association.
Company chairman and managing director Rajesh Agarwal said there were no immediate plans on the table in the infrastructure sector and that the amendment was an enabling provision to tap emerging opportunities in the sector.
This, and another amendment authorising the company board to issue bonus shares, securities, bonds and instruments convertible into equity shares, are subject to the approval of its members through a postal ballot, the company said in a filing to BSE.
The board of directors, which met here on April 16, also decided to raise its borrowing powers up to Rs 3,000 crore and to issue corporate guarantee, loan, security or investment to and in its wholly owned subsidiary companies, as and when required.