Genus Power Infra to raise borrowing limit
To seek shareholders’ nod for raising borrowing limit to Rs5,000 cr from current Rs3,000 cr
New Delhi: Genus Power Infrastructures will seek shareholders’ approval for raising its borrowing limit to Rs5,000 crore from existing Rs3,000 crore through a postal ballot. Members can vote only through the e-voting process which will commence on March 30 at 9.00 am and end on April 28 at 5:00 pm, a BSE filing stated on Thursday.
In view of the increase in business activities and to seize the available business opportunities under CAPEX-OPEXTOTEX base BOOT Model in the power distribution section, it is proposed to increase the borrowing limit from Rs3,000 crore to Rs5,000 crore, the notice said.
The Members of the Company had accorded their consent on July 31, 2023 to the Board of Directors for borrowing monies (apart from the temporary loans obtained from the Company’s bankers in the ordinary course of business) up to Rs 3,000 crore.
