Board Approval for Fundraising
Shivam Autotech announced that its board has approved a proposal to raise up to INR 1.05 billion through the issue of non-convertible debentures (NCDs). The capital will be raised on a private placement basis, aligning with the company’s strategy to strengthen its financial position and support future operational needs.
Details of the Issue
The issuance of NCDs aims to diversify the company’s funding sources and manage debt more efficiently. The company stated that the specific terms, including tenure, interest rate, and timing of the issue, will be finalized in due course, following applicable statutory and regulatory guidelines.
“The Board has accorded approval for raising funds up to INR 1.05 billion by way of a private placement of non-convertible debentures,” the company said in a filing.
About the Company
Shivam Autotech Ltd., a member of the Hero Group, is a leading manufacturer of precision-engineered automotive components, supplying to major two-wheeler and four-wheeler manufacturers in India. The company continues to focus on financial consolidation and long-term growth in a competitive auto components market.
Author summary: Shivam Autotech secured board approval to raise INR 1.05 billion through privately placed debentures to support its financial and operational goals.
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