Ess Dee Aluminium to increase FII limit to 49%, to raise funds

Ess Dee Aluminium Ltd has announced that the Board of Directors of the Company at its meeting held on July 04, 2007, subject to the approval of the shareholders in the forthcoming Annual General Meeting and other statutory approvals / compliances, has decided the following:

1. Increase the Authorized Share Capital from Rs 30.O0 crores to Rs 35.0O crores.

2. Issue further shares / convertible Bonds / securities through FCCB / ADR / GDR route in the aggregate up to USD 150 million (equivalent to Rs 615 crores approx.).

3. Increase in limits for FII investment upto 49%.

Source : Equity Bulls

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