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At the end of trade, TVS Motor emerged as the biggest gainer surging 28 per cent to settle at Rs 33.35 on the BSE. During the trade the scrip had sky-rocketed 31.47 per cent to a high of Rs 34.25.
In a filing to the BSE, the two-wheeler maker said its board has approved the increasing of the borrowing limits to Rs 1,250 crore, from the current Rs 750 crore.
The company would seek shareholders nod for the same by way of postal ballot.
Further, the company would also seek consent from its shareholders "for creating mortgage and charge over all or any or the company's immovable properties and assets" for the purpose of such borrowings, it said.
Besides, TVS Motor said "Prince Asirvatham has been appointed as an additional and independent director of the company" with effect from April 21.
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