Orient Green Power Seeks Shareholder Nod To Raise Share Capital To Rs 2,500 Crore

Orient Green Power will seek shareholders' approval to raise its authorised share capital to Rs 2,500 crore from the existing Rs 1,600 crore in its annual general meeting later this month, as per an exchange filling on Thursday. The proposal to raise the capital is listed on the AGM's agenda scheduled on June 28.

The move, according to a notification, will aid capital raise and other business needs.

The company has also proposed a resolution to increase the annual gross remuneration of its Managing Director and CEO T Shivaraman from Rs 60 lakh to Rs 120 lakh.

It has also proposed to approve Shivaraman's reappointment as MD and CEO for another five years from March 30, 2025, till March 29, 2030.