AIA Engineering to raise upto Rs.150 Crores

AIA Engineering Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 28, 2006, to create, offer, issue and allot on behalf of the Company and / or to create, place and allot on behalf of the Company, in one or more tranches in domestic and international markets, on the basis of a placement document, Equity Shares or any such instrument convertible into Equity Shares or giving the holder a right to subscribe to Equity Shares including fully / partly convertible debentures, bonds, Warrants, whether attached to other securities or otherwise or any other securities subscribed to by Investors or Qualified Institutional Buyers (Securities) whether secured by way charge on the assets of the Company or unsecured as may be decided by the Board; whether or not such Investors or Qualified Institutional Buyers are members of the Company to an aggregate amount not exceeding Rs 150 Crores, at a price which is not lower than the price to be determined in accordance with the relevant applicable guidelines in this behalf, out of the unissued Authorised Share Capital of the Company and such offer, subject to necessary provisions & approvals.

Source : Equity Bulls

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