Outcome of Board Meeting

To augment long-term resources of the Company for meeting funding requirements for business purposes, the Board of the Company, at its meeting held today, i.e. April 7, 2017, has approved preferential offer & issue of 38,865,582 equity shares at an issue price of Rs. 58.40 per equity share, for cash consideration, to Cinnamon Capital Limited (Investor), a foreign portfolio investor registered with the SEBI. The total equity investment by the Investor would aggregate Rs. 2,269,750,000.The offer & issue of these equity shares is in accordance with Chapter VII of the SEBI (ICDR) Regulations 2009, as amended & other applicable provisions of FEMA 1999 and rules & regulations framed thereunder & any other Rules/Regulations/Guidelines, if any, prescribed by any other Regulatory Authorities. For seeking shareholders approval, to the aforesaid issuance of equity shares, the Board has convened an Extraordinary General Meeting of its Shareholders on Saturday, May 6, 2017.

Pdf Link: Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on April 07, 2017
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