Shiv Vani Oil to raise Rs 1000 Crores

Shiv Vani Oil & Gas Exploration Services Ltd has announced that the Board of Directors of the Company at its meeting held on January 19, 2008, inter alia, has passed the resolution to raise funds for an amount not exceeding Rs 1000 Crores, by way of offering, issuance and allotment of any securities including instruments convertible into equity shares, GDRs, FCCBs, convertible bonds, debentures, equity shares, preference shares whether cumulative / redeemable / partly convertible / convertible at the option of the Company and / or at the option of the holders of preference shares, securities partly or fully convertible into equity shares and / or securities linked to equity shares and / or any securities with or without detachable warrants etc.

To raise funds by offering, issuance, and allotment of 60,00,000 warrants with an option to subscribe upto 60,00,000 Equity Shares of Rs 10/- each at a premium of Rs 650/- each to promoters' group.

To convene an Extra-Ordinary General Meeting of the members of the Company on February 18, 2008 for taking approval on the above stated matters.

Source : Equity Bulls

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