Financial Daily from THE HINDU group of publications
Wednesday, May 05, 2004
Financial Daily from THE HINDU group of publications Wednesday, May 05, 2004 |
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Corporate
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Preferential Allotments Welspun India EGM okays pref offer Our Bureau
Mumbai , May 4 WELSPUN India Ltd has informed Bombay Stock Exchange that at extraordinary general meeting held on April 30, its members have approved the following: The preferential offer of 28.34 lakh equity shares will be made to Welspun Mercantile Ltd to the extent of 14.34 lakh equity shares and Welspun Wintex Ltd to the extent of 14,00,000 equity shares as the other two proposed allottees — Krishiraj Investment & Finance Pvt Ltd and Welspun Trading Ltd — have become ineligible for the preferential offer under the latest amended SEBI (Disclosure and Investor Protection) Guidelines, 2000. The preferential offer of warrants carrying an option to subscribe for equity shares not exceeding 30.29 lakh warrants will be made only to Welspun Mercantile Ltd to the extent of 15.29 warrants and Welspun Wintex Ltd to the extent of 15 lakh warrants.The relevant date is March 31, 2004. The board has been authorised to borrow up to Rs 1,000 crore and mortgage/charge the properties of the company to secure loans/borrowings for not more than Rs 1000 crore. It further approved the delisting of its equity shares from the Ahmedabad and Delhi stock exchanges.
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