ICSA India Ltd has announced that the Board of Directors of the Company at its meeting held on April 18, 2007, inter alia, has considered the following:
1. Allotment of 4,00,000 Fully Convertible Warrants issued at a price of Rs 1135/- (including a premium of Rs 1125/-), to Shri. G Bala Reddy, Promoter of the Company.
2. Allotment of 3,50,000 Fully Convertible Warrants issued at a price of Rs l135/- (including a premium of Rs 1125/-) to Goldman Sachs International.
The end use of proceeds raised by issue of above Warrants will be utilized towards:
(i) Infrastructure & R&D
(ii) Capital Expenditure
(iii) Working capital requirements
(iv) Acquisition of Companies Abroad
The stock closed the day at Rs.1043.45, up by Rs.2.90 or 0.28%. The stock hit an intraday high of Rs.1069 and low of Rs.1040. The total traded quantity was 3672 shares compared to 2 week average of 5914.