Meanwhile, the board at its meeting held on 11 June 2025 had approved the issuance of 47,99,825 equity shares of face value Rs 10/- each at an issue price of Rs 264/- per share (including a securities premium of Rs 254/- per share) on a preferential basis, for the purpose of capital expenditure towards setting up a solar panel manufacturing facility with a proposed capacity of 2400 MW, in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. However, due to non-receipt of funds from the proposed allottees, the said Preferential Issue was not processed.