Zuari Agro Chemicals has received board approval, to raise up to Rs.400 crore in one or more tranches.

Zuari produces high quality complex fertilizers and urea for crop use and it also markets agricultural nutrients like micronuetrients, seeds, fertilizers, compost.

In a regulatory filing, Zuari Agro Chemicals stated, “The board…has considered and approved raising of funds by issue of equity shares and/or any other permissible securities convertible into equity shares through qualified institutional placement (QIP) or through any other permissible mode or a combination thereof in one or more tranches…for an amount not exceeding Rs 400 crore.”

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