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| Exchange Disseminated Time | IL&FS Engineering and Construction Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 28, 2014, has resolved, subject to the approval of members of the Company, to issue up to 2,12,74,442 Equity Shares of Rs. 10/- each on a preferential basis at a price to be finalized as per the applicable SEBI Regulations to the following entities in view of its requirement of Capital to meet ongoing funding requirements :
1. Infrastructure Leasing and Financial Services Limited and/ or IL&FS Financial Services Limited - Promoter & Promoter Group;
2. SBG Projects Investments Limited - Public Category
The Board of Directors resolved to complete the process during the quarter ending March 2015 and authorized Executive Committee of Directors to undertake all steps required in this regard
Accordingly, the Board of Directors resolved to withdraw the existing proposal of Rights Issue of Equity Shares and the Draft Letter of Offer filed with SEBI on March 28, 2014. |
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