NACL Industries, a leading player in crop protection business, today said its board has approved to raise Rs 3,000 crore to fund its growth plans. The company’s board has approved to raise funds to the tune of Rs 3,000 crore for meeting growth plans, NACL Industries said in a regulatory filing.
The firm, formerly known as Nagarjuna Agrochem Ltd, has worked out a plan to grow its exports as well as domestic business by developing a pipeline of new products, it added. The company is also planning to expand production of intermediates and bio-products, it said.
The extra general meeting (EGM) to seek shareholders’ nod for the proposal will take place on February 3, it added.