Action Construction Equipment Limited proposed for approval, raising of funds by issuance of securities by way of private offerings/qualified institutions placement(s) for an amount up to INR 1,750.0 million. The purpose of the same will be: Pre-payment and/or repayment of loans; Funding the long term growth of its existing businesses; General corporate purposes including organic or inorganic growth; Making strategic acquisitions; Financing other long term capital, working capital; and Any other as may be permissible under applicable law(s) and approved by the Board of Directors of the Company.