Board of Sansera Engineering approves fund raising up to Rs 1,200 cr

The Board of Sansera Engineering at its meeting held on 20 August 2024 has approved fund raising up to Rs 1,200 crore by issue of equity shares / convertible securities.

The Board also approved additional investment of Rs 20 crore in MMRFIC Technology (MMRFIC) in one or more tranches by way of CCPS.

Further, the Board approved increase in authorised share capital from existing Rs. 23,00,00,000.00 divided into 6,25,00,000 equity shares of Rs. 2/- each, 3,00,000 Series A compulsorily convertible preference shares of Rs. 100/- each and 7,50,000 Series B compulsorily convertible preference shares of Rs.100/- each to Rs. 30,50,00,000.00 divided into 10,00,00,000 equity shares of Rs. 2/- each, 3,00,000 Series A compulsorily convertible preference shares of Rs. 100/- each and 7,50,000 Series B compulsorily convertible preference shares of Rs.100/- each, and consequent alteration in Clause V of the Memorandum of Association relating to share capital of the Company subject to approval of the shareholders of the Company at the forthcoming AGM.