Board approves fund raising of up to Rs. 6,000 crores and higher borrowing limit of Rs. 6,000 crores, subject to shareholder nod
Board approved a plan to raise up to Rs. 6,000 Crores through equity shares, bonds, FCCBs, ADRs/GDRs, debentures or non-convertible instruments, in one or more tranches.
By ScoutQuest · · 2 min read
- Fund Raising Limit
- Up to Rs. 6,000 Crores
- Borrowing Limit Increase
- Aggregate amount not exceeding Rs. 6,000 crores
- Instruments Authorized
- Equity shares, bonds, FCCBs, ADRs/GDRs, debentures, non-convertible instruments
- Approval Required
- Shareholder approval by special resolution at EGM
- Implementation Authority
- Fund Raising Committee to decide instruments, pricing and timing
What was decided
The Board of Directors met on Monday, September 28, 2026 (11:18 AM to 11:35 AM IST) and approved three linked proposals, each subject to shareholder approval by special resolution.
- Increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013 for an aggregate amount not exceeding Rs. 6,000 crores.
- Authority to create a charge or mortgage on the company's assets or properties within the overall borrowing limits, under Section 180(1)(a).
- Raising of funds aggregating up to Rs. 6,000 Crores, for cash, in one or more tranches.
How the money may be raised
The funds may be rupee denominated or in one or more foreign currencies. Instruments listed include equity shares, bonds including foreign currency convertible bonds, American Depository Receipts, Global Depository Receipts, debentures, non-convertible debt instruments along with warrants, convertible debentures and other equity based securities.
Routes named are public issue, preferential issue, private placement, qualified institutions placement (under Chapter VI of SEBI ICDR Regulations, 2018), any combination, or any other permitted method, to eligible investors in domestic or international offerings.
Who decides the details
The Board authorised a Fund Raising Committee to take the necessary steps to implement the proposal. Terms such as the exact instrument, issue price, tenure, coupon and allotment dates are to be decided by the Board or the Fund Raising Committee, subject to receipt of requisite regulatory and statutory approvals.
Next step for shareholders
An Extraordinary General Meeting notice covering the borrowing limit increase, the creation of charge or mortgage on assets, and the fund raising will be sent to shareholders by email registered with the company or depositories, and submitted to the stock exchanges at that time.
How investors may read it
An enabling approval of this size gives the company flexibility to fund growth or refinance debt, but nothing is issued yet. Because equity or equity-linked instruments are among the options, existing shareholders may see dilution if that route is used; if debt is used, the company can also secure it by charge or mortgage on its assets. The scale of the resolution, at up to Rs. 6,000 Crores, and the wide menu of instruments are the key points to track when the EGM notice and later tranche details arrive.
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More numbers
- Fund raising approved (up to)Rs.6,000 Crores
- Increased borrowing limit (not exceeding)Rs. 6,000 crores
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