IND Renewable Energy board approves Rs 26 cr fundraising via rights issue

IND Renewable Energy Ltd on Wednesday said it is planning to raise Rs 26 crore through a rights issue.

A decision in this regard was taken at a meeting of its board members, IND Renewable Energy Ltd said in a regulatory statement.

"This is in modification of our earlier communication where we had conveyed the proposal approved by the board to raise the fund up to Rs 15,00,00,000. We wish to inform you that the Board of Directors of the company at their meeting held today i.e. June 14, 2023, have, in principle, considered and approved the proposal to raise the fund up to Rs 26,00,00,000 by way of right issue," it said.

The terms of the issue will be decided by the board later, the statement said.