Swagruha Infrastructure Ltd to issue 50 lakh warrants

The Board of Directors of Swagruha Infrastructure Ltd at its meeting held on February 05, 2014, have discussed and unanimously decided to issue upto 50,00,000 (Fifty Lacs) Convertible Equity Warrants on preferential basis as per the applicable provisions of the Companies Act, SEBI [Issue of Capital and Disclosure Requirements), Regulations, 2009, and any other applicable provisions or regulations, if any, subject to the consent of the members.

The Board approved proposal to increase the Authorized Share Capital of the Company in order to accommodate the said issue, subject to the consent of the members and to alter the Capital Clause of the Memorandum of Association of the Company in order to give effect to the said Increase in the Authorized Share Capital of the Company, subject to the consent of the members.

The Board approved proposal to alter the Article 5 of the Articles of Association of the Company in order to reflect it as per the Capital Clause of the Memorandum of Association of the Company, subject to the consent of the members.

The Board also appointed Shri Shaikh Babu Sahebe as the member on the Board of the Company as an Additional Director, Executive.

Shares of Swagruha Infrastructure Ltd was last trading in BSE at Rs.115.90, up by Rs.5.35 or 4.84%. The stock hit an intraday high of Rs.116 and intraday low of Rs.111.

The total traded quantity was 0.36 lakh shares as compared to 2 week average of 0.40 lakh shares.

Source : Equity Bulls

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