Dover Securities to raise funds

Dover Securities Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2007, inter alia, has transacted the following:

1. The Board of Directors has approved to raise money by way of Public Issue / Right Issue / Warrants / QIP Issue / GDR Issue of any instrument to the extent of Rs 50.00 crores.

2. The Board has authorised the Company to borrow money for its business purpose in excess of its paid-up capital and free reserves to the extent of Rs 225.00 crores.

3. The Board has approved the calling of Extraordinary General Meeting of the shareholders of the Company on January 12, 2008.

Source : Equity Bulls

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