Olectra Greentech plans to raise Rs 800 crore via issuance of securities ...Middle East

Electric mobility firm Olectra Greentech on Thursday said its board has approved a plan to raise up to Rs 800 crore through issuance of securities. The company is looking to raise the amount through issuance of equity shares and /or through sale of securities convertible into equity shares. These could include issuance of warrants through one or more private offerings, it said in a statement. However, Olectra Greentech did not specify the purpose for raising the funds. Established in 2000, the company is part of the Hyderabad-based Megha Engineering and Infrastructures Limited. Driven by higher revenue, the company saw its net profit rise to Rs 18.8 crore in the June quarter.

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