Pilani Investment Seeks Shareholder Approval for Increased Borrowing Limits

Pilani Investment and Industries Corporation, a company under the Aditya Birla Group, is slated to request shareholder approval on June 30 to elevate its borrowing capacity to Rs 3,500 crore, according to a recent statement.

The company's annual general meeting will additionally address the declaration of a dividend for 2024-25, with the board recommending Rs 15 per equity share. The record date for the dividend distribution has been set for June 23.

Furthermore, Pilani Investment has announced that it has obtained Reserve Bank approval to convert from a Non-Banking Financial Company (NBFC-ICC) to a Core Investment Company (CIC), and has reported a net profit of Rs 98.46 crore for FY 2024-25.

(With inputs from agencies.)