Vijay Shanthi EGM approves QIB issue

Vijay Shanthi Builders Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 30, 2007, have approved the following:

1. Placement of 65,00,000 warrants convertible into equity shares at later dates to Qualified Institution Buyers at a price to be determined by the board in accordance with Chapter XIII A of SEBI (DIP) Guidelines, 2000.

2. Amendment to main objects of the Company forming part of Object Clause of Memorandum of Association to include business to engage in generation and sale of electricity by installation and operation of windmills anywhere in India.

The stock was trading at Rs.197, down by Rs.2.45 or 1.23%. The stock hit an intraday high of Rs.200 and low of Rs.196. The total traded quantity was 6302 compared to 2 week average of 69720.

Source : Equity Bulls

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