“A meeting of the board of directors of the company is scheduled for May 19 to discuss and consider issuance and allotment of equity shares by way of preferential issue to a prospective investor, and NCDs to the lenders,” the notification said. The acquisition is subject to approvals from lenders and other agencies. Shriram group has been finding it tough to manoeuvre the EPC and it has been tottering. For the fiscal ended March 2020, its revenues were Rs 681 crore and incurred a net loss of Rs 81 crore.