At meeting held on 12 January 2021The Board of Coastal Corporation at its meeting held on 12 January 2021 has approved the issuance of 15,00,000 Convertible Equity Warrants @ an issue price of Rs. 187 /- on Preferential basis, thereby raising an amount aggregating to Rs. 28.05 crore subject to the approval of the shareholders. The proceeds from preferential issue will be utilized for the following purposes: 1. Setting up of 3.6MVH Solar Power Plant for captive consumption. 2. Establishment of a green field sea food processing unit to pre-process shrimps and other sea-food at Kakinada: 3.To augment the working capital requirements of the Company and general corporate purposes.