Surana Telecom and Power Ltd has informed the stock exchanges that the board of directors of the company has accorded their approval for initiating steps to raise $25 million for financing the solar power generation project through ECBs/ADRs/GDRs/QIBs/private equity.
Further, the board has approved the submission of "Request for proposal" to NTPC Vidyut Vyapar Nigam Ltd for project titled 'Selection of New Grid Connected Solar Photo Voltaic Project'.
The board has also given its approval for sale/lease or dispose off the company's JFTC and/or optic fibre plant and/or power cables unit and further equity investment in Radiant Alliance Ltd, Bangladesh, a joint venture incorporated on September 2, 2010.
Shares of Surana Telecom gained marginal ground on Thursday to close at Rs 20.40 on the National Stock Exchange (NSE).
