Elitecon International Board Approves ₹1,000 Crore Qualified Institutions Placement

Board approved raising up to Rs 1000 Cr via QIP of equity/convertible securities in one or more tranches, price to be set later, subject to shareholder and regulatory approvals. Revives funding after prior QIP failure left agro dues unpaid and forced reversal talk; large for stretched balance sheet under qualified audit, going-concern note and pending SEBI/GST probes. Price, quantum of shares, use of proceeds, tranches and timeline undisclosed; dilution overhang until placed, needs shareholder and regulatory nods with institutional demand uncertain amid probes.