Bhandari Hosiery AGM approves preferential issue and QIP placement

Bhandari Hosiery Exports Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on September 29, 2006, inter alia, have approved the following:

1. Increase in the Authorised Share Capital of the Company from Rs 12 crores to Rs 25 Crores and consequent changes in MOA and AOA of the Company.

2. The issue upto 14 lac shares and 15 lac Warrants on Preferential Basis to Promoters Group and Other Specified Persons of public.

3. Qualified Institutional Placement (QIP) for upto an amount of Rs 20 crores.

Source : Equity Bulls

Keywords