Gitanjali Gems said that its shareholders have approved the issue of preferential warrants not exceeding Rs 175 crore to persons other than its promoters.
In a filing to the stock exchange, the company said the shareholders have also approved a special resolution for according borrowing powers to the board of up to Rs 10,000 crore and also to mortgage, hypothecate or create charge over moveable and immovable properties of the company.
The board is also authorised to invest, offer guarantee and provide securities not exceeding Rs 7,500 crore.