Prajay Engineers to raise funds through QIP Issue

Prajay Engineers Syndicate Ltd has announced that the Board of Directors of the Company at its meeting held on October 22, 2007, inter alia, has approved the following:

1. To raise funds upto US$ 50 Million through QIP Issue.

2. Increase the Authorized Shares Capital of the Company from Rs 40 crores to Rs 50 crores.

3. To issue Stock Options to eligible employees as per the scheme to be approved by shareholders of the Company.

4. To convene an Extra Ordinary General Meeting of shareholders of the Company to be held on November 19, 2007, to consider and approve the above issues.

Source : Equity Bulls

Keywords