Opto Circuits India Ltd to increase share capital, raise funds

The Board of Directors of Opto Circuits (India) Ltd at its meeting held on May 06, 2014, have subject to the approval of the share holders and other necessary regulatory approvals whatever required, approved the increase in authorised share capital and raising of funds.

The Board has approved the proposal for increasing the Authorised Share Capital of the Company to Rs. 700.00 crores from present Authorised Share Capital of Rs. 300.00 crores and also to make necessary amendments in the Memorandum of Association of the Company in this regard.

The Board also approved proposal to raise funds for the Company and/or for its Indian/Overseas Subsidiaries by way of issue of securities, including Global Depositary Receipts (GDRs) and or American Depository Receipts (ADRs) convertible into equity shares, or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc., convertible into equity shares, in one or more tranches, in Indian or Foreign Market(s) as applicable, whether optionally or otherwise or any combination thereof (hereinafter referred to as "Securities") up to an aggregate amount not exceeding US$ 250 million (Two hundred Fifty million US Dollars).

Shares of OPTO CIRCUITS (INDIA) LTD. was last trading in BSE at Rs.32.15 as compared to the previous close of Rs. 31.65. The total number of shares traded during the day was 878307 in over 9807 trades.

The stock hit an intraday high of Rs. 33.65 and intraday low of 32. The net turnover during the day was Rs. 28879388.

Source : Equity Bulls

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