Max India Limited has informed that the Board of Directors of the Company at its meeting held on July 01, 2009 approved the issuance of equity shares or any such instruments/securities to Qualified Institutional Buyers (QIBs) under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, in one or more tranches, for an aggregate amount of up to Rs 450,00,00,000/- (Rupees Four hundred and fifty Crores only), subject to the approval of equity shareholders.
The Board has decided to convene an Extraordinary General meeting of the Equity Shareholders of the Company on July 28, 2009 seeking their approval for the aforesaid purpose.
Further, the Board has rescinded its earlier decision taken on February 03, 2009 for issuance of equity shares up to an amount of Rs 650 Crores, on Rights basis with detachable warrants.
The Board has decided to convene an Extraordinary General meeting of the Equity Shareholders of the Company on July 28, 2009 seeking their approval for the aforesaid purpose.
Further, the Board has rescinded its earlier decision taken on February 03, 2009 for issuance of equity shares up to an amount of Rs 650 Crores, on Rights basis with detachable warrants.
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