Bhagyanagar India to consider results, fund raising proposal

Bhagyanagar India Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 23, 2007, inter alia, to transact the following:

1. Take on record the Unaudited Financial Results of the Company for the Quarter ended June 30, 2007.

2. Consider the proposal of restructuring the Company's Business in order to separate the different activities presently being carried out by the Company such as manufacturing of Copper and Telecom Products, Real Estate & Infrastructure and Non Conventional Energy.

3. Consider the further issue of securities viz. Foreign Currency Convertible Bonds and or Equity Shares (through Depository Receipt mechanism), viz., GDR / ADR's and / or QIP's and / or any other Financial Instruments together with or without Warrants of the Company (the "Instruments") for an additional US$ 50 millions for part financing capital expenditure program undertaken by the Company.

Source : Equity Bulls

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