NCC announced that the board of directors approved raising of funds upto Rs 6.5 billion through rights issue of equity shares to the existing members of the company.
The terms and conditions of the rights issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the rights issue and other related matters shall be decided subsequently by the board/ a duly constituted committee of the board in consultation with the lead managers to the rights issue, the company said.
The board had also accorded in principle approval for increasing the authorized share capital from Rs 600 million to Rs 1.5 billion.