Champagne Indage to consider raising US$ 50 Million

Champagne Indage Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 10, 2008, inter alia, to consider the raising of long term / medium term financial resources upto a sum of USD 50 million in one or more tranches by issue, offer and allotment of securities including Global Depository Receipts / shares (GDR's), Foreign Currency Convertible Bonds (FCCB's ), Convertible Bonds / Debentures Euro-convertible Bonds, Preference Shares and / or Securities whether Partly Convertible or fully convertible into Equity Shares and / or Securities linked to Equity Shares and / or any instrument or Securities with or without detachable warrants, or such other type of securities representing either Equity Shares or Convertible Securities, in India or in one or more Foreign Market(s) to be subscribed in one or more Foreign Currency(ies) / Rupee by Foreign / Domestic Investors, or by existing shareholders as may be decided by the Board, whether or not such investors are members of the Company, through prospectus, offering letter, Circular, memorandum to the general public or on private placement basis and / or rights basis, and / or through any other permissible mode.

The stock closed the day at Rs.480, down by Rs.6.05 or 1.24%. The stock hit an intraday high of Rs.495 and low of Rs.475.

The total traded quantity was 6903 compared to 2 week average of 1705.

Source : Equity Bulls

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