Mumbai, June 4 -- The company's board approved fundraising of up to Rs 500 crore through one or more tranches via qualified institutional placements (QIPs), preferential allotments, private placements, or other permissible modes, subject to shareholder and regulatory approvals.

The proposed fundraising may involve the issuance of equity shares, preference shares, convertible debentures, non-convertible debentures with warrants, or other eligible securities. The board has also constituted a Fund-Raising Committee to determine the terms and conditions of the issue and oversee the capital-raising process.

In addition, the board approved a postal ballot notice seeking shareholders' consent for the proposed fundraising plans.

The company sa...