IVRCL Infrastructures to raise funds for expansion

IVRCL Infrastructures & Projects Ltd has announced that the members at the Extra Ordinary General (EGM) of the Company held on August 07, 2006, have accorded authority to the Board to issue / offer and allot Equity Shares / Preference Shares / Convertible notes / Securities with or without detachable warrants / Fully Convertible Debentures (FCDs) / Partly Convertible Debentures (PCDs) or any Securities convertible into Equity shares whether optionally or otherwise / Euro Convertible Bonds (ECB’s) / Foreign Currency Convertible Bonds (FCCB’s) / Global Depository Receipts (GDR’s) / American Depository Receipts (ADR’s) / Secured Premium Notes (SPN), ("Securities") for an aggregate amount not exceeding USD 125.00 Million (with permissible green shoe option) or equivalent in Indian and / or in any other currency (ies) (inclusive of such premium, as may be fixed on such Equity Shares) or upon such limit as may be permitted by the Ministry of Finance or such other Authorities whichever is higher, directly to Indian or Foreign Investors whether institutions, incorporated bodies, mutual funds and / or individuals or Qualified Institutional Buyers under Chapter XIII-A of SEBI (Disclosure & Investor Protection) Guidelines or otherwise and whether or not such investors are members, promoters, directors or their associates of the Company through public issue(s), Right issue(s), Private placement(s), preferential allotment for cash or stock swap or acquisition of business/ Companies or a combination thereof at such time or times and in such tranches, at such price or prices, at a discount or premium to market price or prices in such manner and on such terms and conditions including security, rate of interest etc as may be decided and deemed appropriate by the Board at the time of such issue or allotment considering the prevailing market conditions and other relevant factors wherever necessary in consultation with the Lead Managers and Underwriters or through the subsidiaries, so as to also enable the Company to get listed at Indian Stock Exchanges and overseas stock exchanges such as Singapore, Luxembourg, London, Nasdaq and / or New York Stock Exchange and / or any of the other overseas stock exchanges, subject to necessary provisions & approvals.

Source : Equity Bulls

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