Radico Khaitan, which is engaged in manufacturing and marketing liquor, today said it has decided to raise Rs 375 crore from domestic or international markets by issuing securities on preferential basis.
The board of directors took a decision to this effect at its meeting held on Tuesday, Radico Khaitan said in a filing to the Bombay Stock Exchange (BSE).
The board has approved to obtain shareholder nod for the issue, either in India or in the course of international offerings, of such number of equity shares of the company as the board may deem fit, it said.
It would be in the form of global depository receipts, foreign currency convertible bonds or any other financial instruments convertible into equity shares with or without voting/special rights, it said.
These securities would be issued in one or more tranches pursuant to a green shoe option as it may deem fit, for an amount up to Rs. 375 crore or its equivalent in any other currency, it said.
The board has also approved convening of an extraordinary general meeting of the shareholders on October 23 for obtaining the requisite approvals, it said.
Shares of the company closed at Rs 113.60, up 0.49 per cent from previous close on the BSE.
