Ujaas Energy seeks shareholders nod to raise Rs 500 cr

Ujaas Energy has sought shareholders' approval to raise Rs 500 crore through issuance of equity or equity-linked instruments.
"It is proposed to raise funds of upto Rs 500 crore in one or more tranches through a mix of equity/equity-linked instruments..Securities," Ujaas Energy Ltd said in the notice of its annual general meeting, scheduled on September 22, 2016.
The company is in the business of solar power generation.
According to the statement, the board of directors is of the opinion that the company requires additional funds to meet the needs of growing business, in addition to the funds raised internally and through debt from banks and financial institutions.