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| Exchange Disseminated Time | Kajaria Ceramics Ltd has informed BSE the Board of Directors of the Company at its meeting held on October 08, 2013 has approved the following:
1. To increase the Fll Limit to 40% of the total paid up capital of the Company.
2. To accept an offer from WestBridge Crossover Fund, LLC (“Investor”), in terms of which the Investor has agreed to subscribe to, and the Company has agreed to issue and allot: (i) 2,000,000 equity shares of the Company at a price per Share of Rs. 250; and (ii) 3,885,420 warrants convertible into equity shares of the Company at an exercise price of Rs. 257.372433 per underlying equity share (together the “Securities”). The investment will be by way of a preferential allotment of equity shares and warrants, and is subject to customary conditions precedent including the receipt of shareholders’ approval, regulatory approvals required in accordance with applicable law and execution of definitive documentation.
3. To convene an extraordinary general meeting on November 06, 2013 at the registered office of the Company situated at A-27 & 28, Sikandrabad Industrial Area, Sikandrabad, District Bulandshahr, (U.P.) to seek the approval of the shareholders of the Company for the following:
i. to increase the Fll Limit to 40% of the total paid up capital of the Company
ii. pursuant to the provisions of Section 81(1A) of the Companies Act, 1956 and other applicable legal provisions, for the issue and allotment of the Securities to the Investor on a preferential allotment basis under Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.
4. To appoint of Mr. Sandeep Singhal as an additional director on the Board of the Company with effect from October 08, 2013. |
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