Salora International to raise Rs 50 Crores

Salora International Ltd has announced that the Board of Directors of the Company at its meeting held on January 30, 2008, has approved raising the funds from domestic and / or international markets by issuing equity / equity linked instruments by way of FCCB or GDR or Preferential allotment under chapter XIII of SEBI DIP guidelines or Qualified Institutional placements with Qualified institutional buyers under chapter XIIA of SEBI DIP guidelines.

Such raising of funds shall not exceed Rs 50.00 crore.

Centrum Capital Ltd., shall act as the advisor to the Company for the aforesaid funds raising.

Source : Equity Bulls

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