The company is raising capital and utilising it for upgrading manufacturing facilities and augmenting working capital resources. The company has a paid up capital of Rs 4 crore.

Praj is also planning a Rs 12 crore private placement of equity and preference shares with financial institutions and investors for financing the companies globalisation plans. These include setting up of overseas offices for greater market reach in the international market.

A resolution was passed to offer employee stock options of not more than five per cent of the issued equity shares of the company.