India Infoline to raise funds

India Infoline Ltd has announced that the Board of Directors of the Company at its meeting held on December 24, 2007, inter alia, has approved the Issue of 37,00,000 equity shares of the Company on preferential basis to Orient Global Tamarind Fund Pte Ltd as Rs 1500 per share aggregating to Rs 555 Crore, as per Chapter XIII of SEBI (Disclosure & Investor Protection ) Guidelines, 2000 and subject to the provisions of the Companies Act, 1956, and other regulatory approvals as may be applicable.

The Board also noted an investment by Orient Global Tamarind Fund Pte Ltd of USD 50 Mn to acquire a 10% post money stake in fully diluted equity of India Infoline Marketing Services Ltd (IIMSL), which is a wholly owned subsidiary of the Company.

For the purpose of 1 above an Extra-Ordinary General Meeting of the shareholders of the Company will be held on January 17, 2008.

Orient Global Tamarind Fund Pte Ltd is a Singapore based Investment Institution

Source : Equity Bulls

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