The Board inter-alia approved the following matters:

1. Semiconductor Manufacturing Expansion

Approved the modernization and expansion of the Company's semiconductor manufacturing facilities. This includes investments in:

  • Manufacturing infrastructure
  • Advanced packaging
  • Testing
  • Automation
  • Utilities
  • Related facilities

2. Government Incentive Schemes

Approved authorizing the management to submit applications under various Central and State Government schemes, including:

  • India Semiconductor Mission
  • Production Linked Incentive (PLI) Schemes
  • Electronics Manufacturing Cluster Schemes
  • State Government Semiconductor Incentive Policies
  • Other applicable industrial promotion schemes

3. Fund Raising through Rights Issue or QIP

Approved raising funds of up to ₹500 Crores through one or more of the following methods:

  • Rights Issues (in one or more tranches)
  • Issuance of Equity Shares and/or other eligible securities through Qualified Institutional Placement (QIP)
  • Other permissible methods under applicable laws

The terms and conditions will be determined by the Board or the Fund Raising Committee.

4. Overseas Fund Raising

Approved raising funds up to ₹500 Crores through one or more permissible overseas fund-raising instruments, including:

  • Foreign Direct Investment (FDI)
  • Foreign Currency Convertible Bonds (FCCBs)

This is subject to obtaining applicable approvals.

5. Increase in Authorised Share Capital

Approved, subject to shareholders' approval, increasing the Authorised Share Capital of the Company:

  • From: ₹60 Crores
  • To: Up to ₹150 Crores (Maximum)

This will require consequent alteration of Clause V of the Memorandum of Association.

6. Borrowing Powers

Approved seeking shareholders' approval under Section 180(1)(c) of the Companies Act, 2013 for enhancing the borrowing limits of the Company up to ₹500 Crores.

7. Constitution of Fund Raising Committee

Approved constitution of a Fund Raising Committee comprising Directors and Key Managerial Personnel to:

  • Oversee and implement the approved fund-raising initiatives
  • Appoint intermediaries
  • Complete regulatory formalities

Financial Impact

The disclosure mentions fund-raising plans totaling ₹1,000 Crores (₹500 Crores domestic + ₹500 Crores overseas) but does not quantify the financial impact of the manufacturing expansion or provide detailed cost projections for the modernization plan.