Kalpena Industries EGM approves raising capital

Kalpena Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 26, 2009, inter alia, have approved the increase of Authorized Share Capital from existing 12 Crores to 15 Crores by creating additional 30,00,000 Equity Shares of Rs 10/- each. (Ordinary).

The EGM also approved the Change of Capital Clause (Clause V) in the Memorandum of Association by substituting new Authorized Capital Clause. (Ordinary) and the Amendment of Article of Association in the manner set out in schedule (1) of notice calling the EGM (Special).

The EGM also approved the issue of 9,50,000 Compulsory Convertible Debentures (CCDs) by way of Preferential allotment to (i) Banyan Tree Growth Capital LLC. (BTGC) (ii) Financierings Maatschappij Voor Ontwikkelingslanden N V (FMO) at a price of Rs 93.15 per CCD, subject to the approval of Stock Exchange and other regulatory authorities (Special)

The Stock closed the day at Rs.70, down by Rs.2.25 or 3.11%. The stock hit an intraday high of Rs.71.90 and low of Rs.62.60.

The total traded quantity was 508 compared to 2 week average of 1470.

Source : Equity Bulls

Keywords