Financial Daily from THE HINDU group of publications
Wednesday, Sep 14, 2005
Financial Daily from THE HINDU group of publications Wednesday, Sep 14, 2005 |
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Corporate
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Overseas Borrowings Markets - Preferential Allotments Indus Networks plans $7-m GDR issue Our Bureau
Hyderabad , Sept.13 INDUS Networks Ltd has informed the BSE that it has decided to increase the authorised capital and issue Global Depository Receipts (GDRs) worth $7 million. At a meeting held on August 30, the company board passed a resolution to increase the authorised share capital from Rs 10 crore to Rs 25 crore and issue 65,00,000 equity shares of Rs 10 each through a preferential allotment. This would increase the paid-up share capital up to Rs 13 crore. The company plans to issue of 4,33,333 equity shares of Rs 10 each as rights shares to its existing shareholders. Besides these developments, the company board has decided to issue GDRs of up to $7 million. The company's annual general meeting has been scheduled for September 30.
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