Nagarjuna Construction on Thursday said it will raise INR 600 crore by way of private placement of shares with potential buyers.

Nagarjuna in a filing to the Bombay Stock Exchange said that the shareholders have approved to raise funds to the tune of INR 550 crore with an option to raise an additional amount of INR 50 crore, if the issue is fully subscribed by private placement of shares with buyers.

The filing added that further the company has approved the appointment of Mr AJ Jaganathan as director on the board.

(Sourced from Business Line)