Himadri Chemicals & Industries Ltd has sought shareholders' approval for conversion of 12,300 deep discount debentures into equity shares of the company. In a filing to the stock exchanges, the company said that an EGM would be held on March 22 for considering the resolution.
Earlier, the board of the company approved the issue of 3,26,75,297 equity shares of Re 1 each at price of Rs 19 a shares against conversion of the debentures on preferential basis to Himadri Coke & Petro Ltd, the debenture holder.