MRPL shareholders approve fundraising of up to Rs 5,000 crore

Mangaluru: Mangalore Refinery and Petrochemicals Limited (MRPL) on Friday said it has received shareholders’ nod to raise up to Rs 5,000 crore through debentures.

“…we inform that the shareholders in the 324 Annual General Meeting held on September 18, 2020, approved to raise funds up to Rs 5,000 crore through issue of unsecured non-convertible debentures (NCDs)/ Bonds, through a special resolution,” MRPL said in a regulatory filing.

Shares of the company closed at Rs 28.85 a unit on BSE, down by 0.86 per cent.