At meeting held on 12 January 2021
The Board of Coastal Corporation at its meeting held on 12 January 2021 has approved the issuance of 15,00,000 Convertible Equity Warrants @ an issue price of Rs. 187 /- on Preferential basis, thereby raising an amount aggregating to Rs. 28.05 crore subject to the approval of the shareholders. The proceeds from preferential issue will be utilized for the following purposes:
1. Setting up of 3.6MVH Solar Power Plant for captive consumption.
2. Establishment of a green field sea food processing unit to pre-process shrimps
and other sea-food at Kakinada:
3.To augment the working capital requirements of the Company and general
corporate purposes.
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