BGR Power plans ₹1,000-cr rights problem 

BGR Power Methods intends to lift ₹1,000 crore via a rights problem, the corporate mentioned in a discover to the inventory exchanges on Thursday. Nevertheless, the report date for figuring out the eligible shareholders in addition to the entitlement ratio of the difficulty are but to be determined. 

The corporate has shaped a ‘rights problem committee’ of the Board of Administrators to place via the difficulty. To make the rights problem potential, BGR Power has additionally elevated the authorised share capital of the corporate from ₹100 crore to ₹170 crore. 

On June 26, the corporate advised the inventory exchanges that it supposed to “focus on numerous avenues on elevating capital for the operations of the corporate by numerous means together with Rights/Preferential Difficulty of Shares/Debentures and making a separate Committee of Board with phrases of reference and appointing related consultants for elevating of capital.” 

BGR Power is into manufacture and provide of ‘stability of plant’ for energy initiatives. For 2023-24, the corporate reported gross sales of ₹1,012 crore and ‘whole complete internet loss’ of ₹755 crore, in contrast with turnover of ₹806 crore and lack of ₹487 crore within the earlier yr. 

On the BSE on Thursday, the BGR Power share of face worth ₹10 closed at ₹42.03, which was ₹0.7 (1.69 per cent) greater than the earlier shut.