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The Board of Directors of Shree Ram Urban Infrastructure Ltd has approved the issue/allotment of secured, redeemable, non-convertible debentures up to Rs. 400 crore in tranches on private placement basis.
The Board has formed a committee under the Chairmanship of Independent Director authorized to issue/allot the secured, redeemable, non-convertible debentures up to Rs 400 crore on private placement basis including all the terms and conditions as may be decided by the committee from time to time, the company said in a BSE notification.
Shares of the company closed at Rs 89.95 per share on the BSE, up 2.22 per cent over the previous close.
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