The approval of shareholders is sought through a postal ballot. The e-voting will commence on June 10 and end on July 9, the company said in a filing to BSE.
"As a measure of achieving greater financial flexibility to enable optimal financing structure, it is proposed to authorise the board of directors of the company to invest into securities of any body corporate and/or give loan or give any guarantee, provide any security in connection with loans made up to Rs 2,000 crore," it said.
Strides Arcolab today closed at Rs 1,140.75 on BSE, up 1.86 per cent.