Dr.Datsons Labs Ltd to consider fund raising

A meeting of the Board of Directors of Dr.Datsons Labs Ltd will be held on May 10, 2014, to consider increase in authorize capital of the Company from Rs. 500,000,000 to Rs. 800,000,000 subject to the approval of the Members of the Company.

The Board will consider the Company's fund raising program by way of issue of Equity shares on preferential basis to Non Promoters up to US$ 25.00 million, as per the Applicable provisions of the companies Act 2013 and SEBI Regulations, subject to the approval of the Members of the Company.

The Board will consider issue of Foreign Currency convertible Bonds [FCCBs], American Depository Receipts [ADR] and Global Depository Receipts [GDR] upto US$ 25.00 million as per the Applicable provisions of the companies Act 2013 and SEBI Regulations, subject to the approval of the Members of the Company.

The Board will consider the amendment in Other Object Clauses in the Memorandum of Association of the Company, subject to the approval of the Members of the Company.

The Board will consider conducting Postal Ballot of the Company for the above matters pursuant to Section 110 of the Companies Act, 2013 and Companies (Management and Administration) Rules, 2014 and to finalize the Notice of Postal Ballot for the same.

The Board will also consider appointment of Scrutinizer to oversee the Postal Ballot process of the Company.

Shares of Dr.Datsons Labs Limited was last trading in BSE at Rs.26 as compared to the previous close of Rs. 27.25. The total number of shares traded during the day was 403148 in over 6164 trades.

The stock hit an intraday high of Rs. 28.45 and intraday low of 25.25. The net turnover during the day was Rs. 10709253.

Source : Equity Bulls

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