"The board... has considered and approved raising of funds by issue of equity shares and/or any other permissible securities convertible into equity shares through qualified institutional placement (QIP) or through any other permissible mode or a combination thereof in one or more tranches... for an amount not exceeding Rs 400 crore," Zuari Agro Chemicals said in a regulatory filing today.
The stock added 2.06 per cent at Rs 567 on the BSE today.
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