The board of SEL Manufacturing Company has approved increasing the authorised equity share capital to Rs 75 crore from the present authorised equity share capital of Rs 50 crore.
The board has also decided to raise funds for the company by way of issue of securities, including GDRs and / or ADRs convertible into equity shares, FCCBs or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, in one or more tranches, in Indian or Foreign Market as applicable, whether optionally or otherwise or any combination thereof up to an aggregate amount not exceeding Rs 300 crore only.
The board has also approved to issue warrants convertible into equity shares on preferential basis to the promoters / promoter group of the company.
This was approved at the board meeting held on 31 July 2009.
The board has also decided to raise funds for the company by way of issue of securities, including GDRs and / or ADRs convertible into equity shares, FCCBs or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, in one or more tranches, in Indian or Foreign Market as applicable, whether optionally or otherwise or any combination thereof up to an aggregate amount not exceeding Rs 300 crore only.
The board has also approved to issue warrants convertible into equity shares on preferential basis to the promoters / promoter group of the company.
This was approved at the board meeting held on 31 July 2009.
