“This can be done through one or more tranches, if required, to meet its fund requirements for FY25,” the company said in an exchange filing.
The Board has also recommended a final dividend of INR 1.50 per equity share of INR 1/- each for the financial year ended March 31, 2024. Together with the interim dividend of INR 2 per share, paid on February 21, 2024, the total dividend for the financial year 2023-24 works out to INR 3.50 per share.
The company also announced its subsidiary TI Clean Mobility’s (TICMPL) plan for raising INR 580 crore from South Asia Growth Invest III LLC and South Asia EBT Trust III (collectively “GEF”).
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