Nandan Exim to raise Rs.100 Crores through GDRs/FCCBs

Nandan Exim Ltd has announced that the Board of Directors of the Company at its meeting held on September 20, 2006, has approved the following:

1. To raise funds through FCCBs / GDRs / ADRs etc to the tune of Rs 100 crores.

2. To convene the Extra 0rdinary General Meeting on October 14, 2006 for obtaining approval of Shareholders for raising of funds through FCCBs / GDRs / ADRs etc. A fresh resolution in super cession of earlier resolution passed in the 11th Annual General Meeting.

Further the Company has informed that, the Board has approved the above in super-cession of earlier approval of resolution for raising fund through FCCBs / GDRs / ADRs, etc in their meeting and in the meeting of shareholders 11th Annual General Meeting held on September 29, 2005.

Source : Equity Bulls

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