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| Exchange Disseminated Time 11/06/2016 12:31:00 | Intellect Design Arena Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 11, 2016, have approved the following
1. Raising of funds for an amount not exceeding Rs. 300 crores (Three Hundred Crores only) through issuance of securities including equity shares and/or other securities convertible into equity shares, including through public issue and/or on a private placement basis and/or preferential Issue or any other kind of issue by way of further public offer or Rights Issue or including through a Qualified Institutional Placement ("QIP") under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the "SEBI ICDR Regulations").
2. Obtaining the approval of the Shareholders for raising funds by way of any of the options mentioned above in the ensuing Annual General Meeting (AGM) of the Company.
3. Increase the Authorised Share Capital from Rs. 55 Crores to Rs. 75 Crores subject to the approval of the Shareholders.
The meeting commenced at 10:30 a.m. and concluded at 12:00 Noon. |
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