The Hindu Business Line : Pioneer Invest plans to raise Rs 335 cr

Chennai, Nov. 19 Pioneer Investcorp Ltd has informed the BSE that the board of directors of the company at a meeting on November 17 approved a plan to raise up to Rs 335 crore by way of issue of equity shares or warrants on preferential basis to promoters/other investors and also by way of issue of equity shares to qualified institutional buyers (QIBs) through qualified institutional placement.

An EGM of the company will be called on December 18 for seeking the members’ approval for issue of securities on preferential basis.

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Pioneer Invest plans to raise Rs 335 cr