Power Mech Projects seeks shareholders' nod to raise borrowing limit to Rs 7,500 cr

New Delhi, Nov 20 (PTI) Power Mech Projects has sought shareholders' approval to raise the borrowing limit from Rs 5,000 crore to Rs 7,500 crore.

The remote e-voting period will commence on November 21, 2025, and end on December 20, 2025, according to the notice issued on November 10.

The special resolution is listed on the notice is to "increase the Borrowing Powers and Creation of Security".

It is proposed to increase the borrowing limit from Rs 5,000 crore to Rs 7,500 crore.

Further, it stated that to secure the borrowing, which the company may raise from time to time, the company may be required to create mortgages/charges/hypothecation in favour of the lenders/financial institutions/bodies corporate/others, on all or any of its movable and immovable properties.

In order to create the aforesaid mortgages/charges/hypothecation, the consent of the shareholders by means of special resolution is required.

Accordingly, the resolution 4 is proposed to obtain necessary consent of the members of the company, it stated.

The company explained that considering the current order book size and to meet the increased requirements of funds in future, which may arise on account of long term fund requirements and working capital requirement, which may be availed from financial institutions and banks, increased capital expenditure or the expansion plan/ program, increased scope of operations, and other financial obligations with respect to the subsidiary companies, the company may require to raise further loans/borrowings from financial institutions, banks and others.

The approval of shareholders was obtained on September 27, 2024, for the existing borrowing limit of Rs 5,000 crore. PTI KKS KKS BAL BAL