"The Board has recommended raising around Rs115cr as equity and the approval of the shareholders will be sought at the meeting on March 7, 2019," the company said in a press note to the exchanges on Monday.
The infusion will be through an issue of equity and equity warrants (exercisable within 12 months) to an incoming investor and the existing promoter, the company stated.
The incoming investor is Krishi Rasayan Group, which will hold around 16% of NACL's equity upon completion of the infusion. The promoters are also investing Rs15cr through equity warrants. Post the issue, the promoters will continue to have a controlling interest by holding around 63% of the equity.
"There will be no change in the NACL management ," the company added.