Jet Infraventure Ltd board approves issue of CCRPS

The Board of Directors of Jet Infraventure Ltd, subject to approval of shareholders of the Company and other regulatory / statutory authorities considered and approved to reclassify the existing authorised share capital of Rs. 3,00,00,000 (Three Crore) equity shares of Rs. 10/- (Rupee Ten) into Rs. 2,09,60,000/- (Rupees Two Crores Ninety Six Lakhs) equity share capital divided into 2096000 (Twenty Lakhs Ninety Six Thousand) Equity Shares of Rs.10/- (Rupees Ten) each and Rs. 90,40,000/- (Rupees Ninety Lakhs Forty Thousand) Preference Share Capital divided into 904000 (Nine Lakhs Four Thousand) Preference Shares of Rs. 10/- (Rupees Ten) each and consequent alteration of Memorandum of Association of the Company relation to Capital.

The Board of Directors, subject to approval of shareholders of the Company and other regulatory / statutory authorities considered and approved for issuance of 903000 12% Cumulative Compulsory Redeemable Preference Shares ('CCRPS') of the Company of face value of Rs. 10 each at an issue price of Rs. 325 including premium of Rs. 315 per share amounting up to Rs. 29,34,75,000/- in one or more tranches, on a preferential basis for cash and in such form and manner and upon such terms and conditions as the Board may in its absolute discretion deem appropriate to the persons belonging to Non Promoter category.

Source : Equity Bulls

Keywords

JetInfraventure CCRPS PreferenceShares FundRaising CCRPS