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| Exchange Disseminated Time 30/05/2016 20:51:20 | Sumeet Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016, inter alia, has considered and approved the following :
1. Recommended increase of the Authorised Share Capital of the Company from Rs. 100.00 Crores to Rs. 175.00 Crores subject to approval of the Shareholders.
2. Proposed and recommended to raise funds by way of issue of Global Depository Receipts (GDRS) / American Depository Receipts (ADRS) / Foreign Currency Convertible Bonds (FCCBS)/Equity Shares /Warrants and / or Instruments Convertible into Equity Shares for an aggregate sum up to USD 20 Million (Twenty Million US Dollars) approximately Rs. 140.00 Crores (Rupees One Hundred and Forty Crores) for general corporate purposes subject to approval of the Shareholders. |
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