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News Topical, Digital Desk : Indian real estate company AGI Infra Limited has taken a major step to advance its growth plans. The company's board has approved fundraising up to a maximum of ₹500 crore. The company stated that several options will be available for fundraising, including a public issue, preferential allotment, rights issue, and private placement. The board meeting also made several other important decisions.
The company's authorized share capital is proposed to be increased from ₹15 crore to ₹20 crore, and this will also result in changes to its equity structure. The current 15 crore shares will be increased to 20 crore shares. The proposed increase in the investment limit for NRIs and Overseas Citizens of India (OCIs) is also subject to shareholder and regulatory approvals.
Shares will strengthen its financial position . This fundraising approval will help AGI Infra strengthen its financial position, fund ongoing and upcoming projects, and explore new growth opportunities in the real estate sector. However, the actual share issue will depend on market conditions, regulatory approvals, and the company's strategic plans.
Share Performance: The company's shares closed at ₹266.50 on Thursday, down 0.89 percent. The company's shares have gained 180.20 percent in the past year.
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