Granules India calls for EGM on Apr 30, 2007 to seek approval for preferential issue

Granules India Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on April 30, 2007, inter alia, to offer, issue, allot and deliver in one or more tranches on a private placement and / or preferential allotment basis, upto 22,11,200 equity shares of the Company of the face value of Rs 10/- each fully paid-up, to ISP Investco LLC, at a price of Rs 105.50/- per share (Including premium), being a price which is higher than the minimum price specified as per the SEBI (Disclosure and Investor Protection) Guidelines, 2000 ("SEBI DIP Guidelines"), and that the shares so issued shall rank pari-passu in all respects with the existing equity shares of the Company, subject to necessary provisions & approvals.

Source : Equity Bulls

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