Videocon Industries EGM to approve fund raising proposal

Videocon Industries Ltd has announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on December 18, 2006, to consider and pass a resolution authorizing the Board of Directors to issues offer and allot equity shares or securities other than warrants which are convertible into or exchangeable with equity shares under Qualified Institutional Placement i.e., QIP Guidelines, for an amount not exceeding Rs 1,500 Crores. This is in supersession of the resolution passed on June 26, 2006 at an Extra Ordinary General Meeting of members.

Source : Equity Bulls

Keywords