Bihar Tubes EGM approves fund raising proposal

Bihar Tubes Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 06, 2007, inter alia, have unanimously approved the following:

1. The raising up to US $ 20 million by way of Foreign Currency Convertible Bonds, Global Depository Receipts (GDR) and / or any other security in the international market(s) subject to approvals as may be necessary / required by the Company in one or more trenches.

2. Borrowing power of the board increased up to a limit not exceeding in the aggregate Rs 200 Crores.

Source : Equity Bulls

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