Board also approves proposal to invest in 20% equity of Huoban Energy 4 Pvt. Ltd.
Board also approves proposal to invest in 20% equity of Huoban Energy 4 Pvt. Ltd.
The board of Hatsun Agro Product Ltd. (HAPL) on Monday approved proposals to invest up to 20% of the paid up share capital capital of Huoban Energy 4 Pvt. Ltd. and raising ₹700 crore through private placement of equity shares via qualified institutional placement (QIP).
HAPL will be picking up 20% stake in the equity share capital of Huoban Energy 4 Pvt. Ltd. for the purpose of captive consumption of solar energy for its cattle feed and diary plant in Maharashtra, the company said in a filing.
The diary-product maker would be tabling a resolution at the company’s annual general meeting scheduled for September 20 seeking shareholders’ approval for the proposal to raise ₹700 crore through private placement of equity by way of Qualified Institutional Placement (QIP).
