Bartronics India to raise US$50 Million

Bartronics India Ltd has announced that the Board of Directors of the Company at its meeting held on July 30, 2007, has transacted the following business subject to the approval of the members of the Company at the Annual General Meeting to be held on September 10, 2007:

1. Approved the resolution for Increasing the Authorized Share Capital of the Company from Rs 40 Crores to Rs 60 Crores.

2. Approved the resolution for increasing the borrowing limits from Rs 250 Crores to Rs 500 Crores.

3. Approved the Resolutions for Issue of Foreign Currency Convertible Bonds (FCCB), Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) for an Aggregate sum of US $ 50 million.

Source : Equity Bulls

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