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Hyderabad June 25 Infotech Enterprises Ltd has decided to increase the authorised capital of the company from Rs 30 crore to Rs 135 crore while also enhancing the FII investment limit from the current 30 per cent to 100 per cent.

Following the EGM held here on June 23, the company informed the BSE that it approved the amendment to the existing Clause V of the memorandum of association to incorporate the increase in authorised capital.

Alongside, it was decided to issue of 38,11,392 equity shares of Rs 5 each at a price of Rs 360 each to the depository as underlying equity shares to the ADRs.

The company also approved issue of further shares under preferential basis to Carrier International Mauritius Ltd (11,66,420 equity shares) and GA Global Investment Ltd, Cyprus or any of its affiliates/group entity (6,05,885 compulsory convertible preference share) with 27,24,000 option for additional.

The additional option for issue of 38,11,392 equity shares will be issued only in the event of equity shares are not issued to the Depository under the ADR facility.

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