Swan Energy gets shareholders' nod to mop up Rs 1,200 crore

Swan Energy today got shareholders' nod to raise Rs 1,200 crore through qualified institutional placement (QIP), global depository receipts (GDRs), American depository receipts (ADRs) and foreign currency convertible bonds (FCCBs).
The proposal to raise the funds was passed by a majority vote at the annual general meeting of the company held yesterday, according to a BSE filing by Swan Energy.
According to the statement, the shareholders also approved dividend at the rate of 15 per cent -- Rs 0.15 per share -- for the year ended March 31, 2015.
Shareholders also adopted audited financial results (standalone and consolidated) for 2014-15 and reports of directors and auditors thereon.