The decision was taken by its Board of Directors in a meeting today.
"The Board of Directors of the company at its meeting held on July 6, 2015, inter alia, has ...Considered, issue and allotted 2,64,20,784 equity shares of Rs 2 each at a price of Rs 27.52 per share to Promoters/promoters group companies pursuant to CDR Scheme," the company said in a BSE filing.
The board also gave nod to allotment of 36,08,738 equity shares of Rs 2 each at a price of Rs 27.52 per share to CDR Lenders pursuant to CDR scheme, it added.
Shareholders nod would be sought through postal ballot, the company said adding the board also "recommended to the general body to approve, ratify and confirm the Corporate Debts Restructuring Scheme through postal ballot".
The shares of the company closed at Rs 13.67 per scrip on the BSE, up 2.63 per cent.