The Hindu Business Line : Maars Soft debenture issue

CHENNAI: Maars Software International Ltd will issue fully/partly convertible debentures (less than 18 months period) to maximum of Rs 12 crore each to Forsee Financial and Consultancy Pvt Ltd and Sri Aurobindo Finance & Hire Purchase Pvt Ltd, and Rs 1 crore to Malu Financial Securities Ltd.

The company's shareholders approved this at an extraordinary general meeting (EGM) held on March 28.

The shareholders also approvedan increase in authorised capital from Rs 100 crore to Rs 175 crore. The company would issue ADR/GDR and or any other instrument, which can be convertible into equity shares or otherwise, up to maximum of $ l8 million, a press release said.

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