In an exchange filing on Friday, July 3, the textile and apparel manufacturer said the board approved raising funds through equity shares, convertible or redeemable preference shares, fully or partly convertible debentures, non-convertible debentures with warrants, Global Depository Receipts (GDRs), American Depository Receipts (ADRs), Foreign Currency Convertible Bonds (FCCBs), or any other eligible securities, either individually or in combination.
The proposed fundraising will be for an aggregate amount not exceeding ₹600 crore and may be carried out in one or more tranches, subject to shareholder approval and receipt of the necessary regulatory and statutory clearances.
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The company said the Finance Committee of the board has been authorised to determine the timing, pricing, terms and other conditions of the proposed issue.
Alongside the fundraising proposal, the board also approved initiating a postal ballot process to seek shareholders’ approval for the resolutions related to the capital raise. The draft postal ballot notice and matters incidental to the process were also approved.
Shares of the company were trading 0.66% down on Friday at ₹564.25. The stock has surged more than 77% so far in 2026.
