The company stated that the board of directors has approved fundraising of an amount not exceeding Rs50 crore through a rights issue to the eligible equity shareholders of the Company as on record date in accordance with applicable laws.
The company will constitute the rights issue committee to proceed with the rights issue and decide other terms of the right issue.
In the same meeting, the company has also approved giving corporate guarantee/loans/investments not exceeding an amount of Rs45 crore for M/s. Continental Fisheries India Limited, a Wholly Owned Subsidiary of the Company.
The board also extended approval to give corporate guarantee/loans/investments not exceeding an amount of Rs175 crores for M/s. Coastal Biotech Private Limited, a Wholly Owned Subsidiary of the Company (Ethanol Project).
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