Gujarat NRE Coke Ltd will hold a postal ballot for a fresh issue of 5 crore convertible warrants to promoters on preferential basis, securities (including FCCBs) not exceeding $150 million or Rs 750 crore and provide securities, not exceeding A$100 million or Rs 500 crore, relating to the borrowings to be availed by Gujarat NRE Coking Coal Ltd, an Australian subsidiary for working capital facilities.
The company’s board took these decisions on Sunday.