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| Exchange Received Time 28/03/2017 16:39:35 Exchange Disseminated Time 28/03/2017 16:39:42 Time Taken 00:00:07 | | This is to inform you that to augment long-term resources of the Company for meeting funding requirements for its business purposes, and as a reflection of confidence that promoters have in the future of the Company, the Board of Directors , at its meeting held today, i.e. 28.03.17(which was commenced at3:15PM and concluded at 4:15PM), has approved preferential offer & issue of up to 3,38,00,000 convertible warrants to(a)Inuus Properties Pvt Ltd &(b)Inuus Developers Pvt Ltd, promoter group entities. These warrants are convertible into equivalent number of equity shares of Rs.2 each at an exercise price of Rs.43.75 per share. Total equity investments by these two investors would aggregate upto Rs.147.875 Cr in the Company, post conversion of warrants. Offer & issue of these warrants is in accordance with Chapter VII of SEBI(ICDR) Regulations 2009, as amended. For seeking shareholder's approval, inter alia, to aforesaid issuance of warrants,Board has convened an EGM on Tuesday, 25.04.17. |
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