SRF to seek shareholder nod to raise Rs 2,000 cr via NCDs

SRF Ltd, which manufactures chemical-based industrial intermediates, will seek shareholders' approval to raise up to Rs 2,000 crore through issuance of redeemable non-convertible debentures in one or more series/tranches on a private placement basis.
In a BSE filing, SRF said that in order to supplement resources for financing capital expenditure and for general corporate purposes, it may be required to offer or invite subscription for secured/unsecured redeemable non-convertible debentures in one or more series/tranches on private placement.
"Approval of the members by way of a special resolution is sought for the resolution... Authorising the Board to issue redeemable, non-convertible debentures by private placement for an aggregate amount not exceeding Rs 2,000 crore during the period of one year from the date of annual general meeting," the company said.

The company's AGM will be held on August 6.
The stock closed at Rs 1,308 on BSE, down 0.15 per cent.