On Friday, Gujarat Pipavav Port Ltd (GPPL) said that it has got the approval from shareholders to raise a total of up to Rs 5,000 crore.

It said in a BSE filing that it has approached shareholders for authorising the Board to “borrow monies that may exceed aggregate of the paid-up share capital and free reserves of the company provided the total amount… shall not at anytime exceed Rs 2,500 crore or the aggregate of the paid-up share capital and free reserves of the company, whichever is higher”.

It has also got shareholders approval through another special resolution for authorising the Board to create charges, mortgages and hypothetical.

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