Nagarjuna Construction today said it will raise Rs 600 crore by way of private placement of shares with potential buyers.
The shareholders have approved to raise funds to the tune of Rs 550 crore, with an option to raise an additional amount of Rs 50 crore, if the issue is fully subscribed by private placement of shares with buyers, Nagarjuna said in a filing to the Bombay Stock Exchange.
Further, the company has approved the appointment of A J Jaganathan as director on the board, the filing added.
Shares of Nagarjuna Construction were trading at Rs 145.20 on the BSE, down 0.58 per cent from previous close.