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| Exchange Disseminated Time | Jyothy Laboratories Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 22, 2013, inter alia, has approved :
1. Subject of necessary approvals, issue of 1,50,00,000 (One Crore Fifty Lacs) equity shares of the Company of Re. 1/- each to the Promoter and/or Promoter Group on Preferential basis in terms of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009;
2. Raising of funds upto Rs. 400,00,00,000 (Rupees Four Hundred Crores only) through issue of Non-Convertible Debentures to replace the existing borrowings.
3. To acquire 33,00,000 Compulsorily Convertible Cumulative Participatory Preference Shares of Rs. 10/- each (100% of preference capital) and 50,000 Equity shares of Rs. 10/- each (0.38% of equity capital) in Jyothy Fabricare Services Ltd, subsidiary of the Company, presently held by lL&FS Trust Company Ltd for TARA INDIA FUND IV TRUST. The Company presently holds 74.71% in Jyothy Fabricare Services Ltd. |
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