Noida-based IT firm Bharatiya Global Infomedia will seek shareholders approval to enhance the borrowing limit to up to Rs 150 crore for at its annual general meeting to be held on September 30, according to a report.
The company will seek approval to create mortgage and hypothecations on all or any of its immovable property for raising up to Rs 150 crore, the company said in its annual report.
"Keeping in view the company's existing and future financial requirements to support its business operations, the Company may needs additional funds. For this purpose, the Company may require finance from various banks or financial institution and or lending institutions or Bodies corporate or individuals or such other persons as may deem fit by Company...Hence it is proposed to increase the maximum borrowing limits up to Rs 150 Only," Bharatiya Global Infomedia (BGIL) explanatory note said.
The company had posted a consolidated revenue of Rs 11.33 crore and a profit after tax of Rs 6.36 lakh in the financial year ended March 31, 2021.
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