The members of India Infoline have accorded FIIs including their sub-accounts, in the shares or securities convertible into shares of the company, by purchase or acquisition from the market under PIS under FEMA, upto 100% of the paid up equity share capital or paid up value of the securities convertible into shares of the company as may be applicable or such other maximum limit as may be prescribed from time to time.
The members have decided to create, offer, issue and allot at any time to or to the benefit of such persons who are in permanent employment of the company, including any directors of the company, whether whole time, independent or otherwise whether in India or at overseas location under ESOS 2007 or any other instruments or securities of the company which could give rise to issue of equity shares not exceeding 15,00,000 equity shares of Rs 10 each.
The members have decided to issue, offer and allot 15,00,000 equity warrants on preferential basis to the trustees of India Infoline Employee Trust. Each of the equity warrant will be exercisable into one equity share of face value of Rs 10 to be issued in one or more tranches, at Rs 758, which includes a premium of Rs 748 per share.
Further, the members have decided to borrow any sum or sums of money from time to time at their discretion, for the purpose of the business of the company, which together with the monies already borrowed by the company, may exceed at any time, the aggregate of the paid-up capital of the company and its free reserves by a sum not exceeding Rs 3,000 crore.
This was decided at the extra ordinary general meeting held on 20 October 2007.
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