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Hyderabad, Sept. 10

Bartronics India Ltd has informed the BSE that the company members have approved enabling resolution to hike the authorised capital and permission to raise up to Rs 500 crore and $50 million through FCCB or GDR issue. The shareholders at the 16th Annual General Meeting held on Monday have given authority to the board of directors to borrow up to Rs 500 crore to part fund its expansion. Alongside, the company has secured nod to raise the authorised capital from Rs 40 crore to Rs 60 crore by creation of 2,00,00,000 equity shares of Rs 10 each. The board has secured nod to offer and allot either through an international offerings any security, including Global Depository Receipts (GDRs) and or American Depositary Receipts (ADRs) convertible into equity shares or foreign currency convertible bonds (FCCBs) up to $50 million.

— Our Bureau

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