"Given the company's future growth plans, the board considers it necessary to augment the long term resources of the company by way of issuing securities to eligible investors, subject to an aggregate maximum limit of an amount not exceeding Rs 1,000 crores or equivalent amount in any other currency," the company said in a BSE filing.
The issue would be subject to shareholders' nod in its annual general meeting (AGM) scheduled for August 26 and "the prevailing market conditions and other relevant considerations", the filing said.
It said the board intends to deploy the net proceeds from the issue post payment of related fees and expenses for augmenting long-term finance for funding growth and capital expenditure, capital requirement of its arms or JVs, working capital requirement and general corporate purpose.
The company proposes to raise the amount through issue of equity shares, global depository receipts, American depository receipts, foreign currency convertible bonds or a combination thereof including issuance of securities through a qualified institutions placement, among others.
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"The Company may ... Offer a discount of not more than than 5 per cent or such percentage as permitted under applicable law on the price determined pursuant to the SEBI ICDR Regulations," the filing said.
It said the resolution also seeks to give the board "powers to issue securities in one or more tranches, at such time or times, at such price or prices and to such person(s) including institutions, incorporated bodies and/or individuals or otherwise as the board in its absolute discretion deem fit."