Business Daily from THE HINDU group of publications
Friday, Apr 18, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Apr 18, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Private Placement Electrotherm to raise funds 
Coimbatore, April 17 Electrotherm India Ltd has informed that the members at the EGM on March 28 have given authority to the board to raise funds in the form of QIP and to offer, issue and allot from time to time, in one or more tranches, equity shares or any securities other than warrants, which are convertible into or exchangeable with equity share at a later date, to Qualified Institutional Buyers (QIBs) for an aggregate sum not exceeding Rs 300 crore. The EGM also authorised the board to o ffer, issue and allot in one or more lot(s), on private placement and/or preferential basis, not exceeding 13,70,000 equity shares of the face value of Rs 10 each for cash at a price including premium to be determined in accordance with SEBI Guidelines, but not less than Rs 600 per share, to DEG Deutsche Investitions - Und Entwicklungsgesellschaft mbH (Foreign Financial Institution). – Our Bureau More Stories on : Private Placement | Engineering
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