The company has called an extra ordinary general meeting next month to pass different special resolutions for issuance of preferential shares as per a regulatory filing by Orient Green Power.
According to the filing, the company's board has proposed to allot or allot up to 5.16 lakh shares of face value of Rs 10 each fully paid up amounting to Rs 75.02 crore to SEBI registered Portfolio Manager Forefront Capital Management, a subsidiary of Edelweiss Financial Services.
Similarly the board proposed to offer and allot up to 3,43,87,895 equity shares of face value of Rs 10 each fully paid up amounting to Rs 49.99 crore to Nivedana Power. A similar number of shares with amounting to the same amount of face value of Rs 10 each has also been proposed to be alloted to Syandana.
It is also proposed is also there to offer and allot up to 72,21,458 equity shares of face value of Rs 10 each fully paid up amounting to Rs 10.49 crore to EW Special Opportunities Fund II Pte Ltd and up to 99,72,489 equity shares of face value of Rs 10 each fully paid up amounting to Rs 14.49 crore to Ecap Equities Limited.
Earlier the company had said that the board of directors at its meeting on August 19 approved raising Rs 250 crore by way of equity shares on a preferential basis.