Equity Tips, Torrent Power Gets Shareholders' nod to raise Rs 1,500 Cr

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Torrent Power said it has received shareholders' approval to raise up to Rs 1,500 crore through issuance of non-convertible debentures on private placement basis. The special resolution for the issuance of secured, redeemable, non-convertible debentures not exceeding Rs 1,500 crore, at par, on a private placement basis within the overall borrowing limit of the company is approved by the shareholders, the company said in a BSE filing. According to the filing, the special resolution was approved with the requisite majority through postal as well as e-voting.