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IL&FS Engineering and Construction Company Limited will seek shareholders nod for issue of preferential shares to promoters and securities of the company to raise up to Rs 500 crore.
In a notice of postal ballot submitted to BSE, the company has informed that the shareholders nod would be secured to issue 89,00,000 shares to Infrastructure Leasing & Financial Services Limited (44,08,045) and IL&FS Financial Services Limited (44,91,955 ) to the promoter group entities on a preferential basis.
The postal ballot would also seek nod for another resolution where the company plans to issue securities of for an amount of up to Rs 500 crore.
The result of the postal ballot would be announced by August end.
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