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Tega Industries Board Approves Fundraise Of Up To Rs 4,000 Crore
NDTV Profitยท 2025-09-13 18:07
Group 1 - Tega Industries Ltd. plans to raise up to Rs 4,000 crore through equity and equity-linked instruments, with the fundraising to be conducted in one or more tranches based on market conditions and business needs [1][2] - The capital will be raised through various permissible routes including public issues, preferential allotments, private placements, or Qualified Institutional Placements, with final decisions on structure, timing, pricing, and investors to be made in consultation with merchant bankers [2] - The board has approved increasing the company's borrowing powers by Rs 2,000 crore to enhance debt capacity for growth and strengthen the balance sheet [3] Group 2 - The overall ceiling on investments, loans, guarantees, or financial support to other entities has been approved to increase up to Rs 4,000 crore [3] - The management has been authorized to create charges, hypothecation, mortgages, or pledges on the company's assets to secure borrowings, which may include substantial undertakings [4] Group 3 - Tega Industries has agreed to acquire control of Omaha-based mining equipment maker Molycop at an enterprise valuation of $1.5 billion, marking the largest US deal by an Indian company in three years [5] - Tega will hold a 77% stake in Molycop, with the acquisition being conducted in consortium with funds managed by Apollo Global Management Inc. [5]