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Sunday, Dec 04, 2005
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 Corporate - Overseas Borrowings


Shiv Vani security issue

Our Bureau

MUMBAI: Shiv Vani Oil & Gas Exploration Services Ltd has informed stock exchanges that its extraordinary general meeting on November 28 authorised the board to offer, issue and allot securities up to an amount not exceeding $60 million or the rupee equivalent or any other currency.

The EGM authorised the board to retain under a green shoe option up to 25 per cent of the amount of the initial offer — a maximum of $75 million. A proposal for aggregate borrowings of Rs 1,000 crore from financial institutions was cleared at the EGM.

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